High Yield Savings Account – Switching to a Local Community Bank for Higher Rates
Posted on | February 25, 2010 | No Comments
If you are looking to get a high yield savings account then you may want to consider switching to a local community bank for higher rates. At the present time there are many local community banks that are offering yields above 4%. By doing your research online you could find a very high savings account yield.
It is very important to note that you must live in a specific area of the country to lock in to these high savings account rates. Most local community banks only accept applications from individuals who live in specific counties. If you do not live in that specific county you may have to continue your search.
It would be wise to start your search in your area as there may be a high yield savings account bank just down the road. It is very possible that there are many community banks in your area that can offer a better yield than national banks. There are some restrictions that you must meet to get these high yields from local banks.
Most of these accounts require you to use an ATM or debit card at least 10 times a month. They also require you to have at least one electronic transfer into the account once a month. If you can meet these requirements you can get a very high yield on your savings account.
Author: Jeremy North
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