Tuesday, October 31, 2006

Saving account, super charged!

Okay people, it doesnt get any easier than this. Who here wants to make money just by having money laying around in their checking account? Well i just opened an account from gmac bank and let me tell you its perfect for anyone who wants to earn a higher interest rate than the average savings account and still having access to their money 24/7. So i basically transferred all my money from my checking account from suntrust to this account and using it as my checking account, its great!

Who doesnt want to earn that extra 5.25% while doing nothing, i mean your gonna have your money just sitting there whether in a checking or saving account, you might as well make that extra 5.25% interest rate. I mean 5.25% is not gonna buy you a new car but its better than not making 5.25% right?

So here are the benefits for this account:

*A higher yield on your deposit than a traditional savings account
*Easy access to your money through checks and a Check Card
*Standard Money Market restrictions of six transactions per statement cycle will apply
*A minimum opening deposit of only $50
*No monthly service fees when you maintain a $500 minimum balance
*FDIC-insured up to $100,000 per depositor (How to maximize your FDIC insurance)
*Fees may reduce earnings

The only draw back to this is that you cant go into a branch because everything is done online. (which to me isnt necessary a drawback because i never go in the branch anyways, i do everything either online or over the phone).

There is a useful savings calculator you can check out also on their site. You enter in your starting amount and how much on average you intend on putting in every month (if any) and for the number of years then hit calculate, this will tell you how much money you made just from letting it sit in the account(if you didnt put anything in your account). Whats there not to like about this? I encourage everyone to check it out, its Awesome!

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