Savings Square Savings Account Review
The Savings Square savings account is one of the best high interest savings accounts in the country. Savings Square online banking is a savings account product offered by Kirkpatrick Bank.
The Savings Square savings account is Kirkpatrick’s online banking savings account designed to pay a higher interest rate than a traditional banks could pay. Why can Savings Square pay a higher yield interest rate than a traditional bank? Well, this online bank has very low overhead costs. Kirkpatrick Bank does not need to maintain branch locations and bank tellers. Therefore the Savings Square savings account can pay a higher savings rate.
What are the Savings Square Interest Rates?
As of December 30, 2008 the Savings Square savings account interest rate is 3.60% APY. This yield savings account interest rate is not the higher than the Dollar Saving Direct Savings Account. But, a 3.60% APY is still a great savings account interest rate. Much higher than my ING Direct savings account.
What is the minimum deposit required on the Savings Square Savings Account?
Savings Square does not require any minimum balance to be maintained in order to qualify for its high interest savings rates. I love being able to open an online savings account with no minimum balance requirement. This allows me to move money into this account, whenever it is paying the highest interest rates.
Is the Savings Square Savings Account FDIC Insured?
Yes, the Savings Square Savings Account is FDIC insured. In today’s uncertain times, I would never open a savings account with an institution that is not FDIC insured.
So, if you are looking to open a high yield online savings account, you might want to check out the Savings Square Savings Account.
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