Sovereign Bank Online Banking
This is the third in our four-part series on Sovereign Bank Online banking. Today, we here at Online Banks Blog are going to look at what Sovereign Online has to offer in savings accounts: both savings and money market.
There are four types of savings available from Sovereign Bank online banking: Statement savings, Passbook savings, Club account, and Money Market savings. Each has something to offer.
Statement Savings is a standard savings account from Sovereign Bank Online, with a low minimum balance requirement and rates of return about average for the nation. Savings for minors are also available in this type of account, tailored specifically for children learning to save for their futures.
Passbook savings offers the security of a savings passbook to Sovereign Online banking customers, though it has a higher mnimum balance requirement per savings tier.
A Club account is a Sovereign Bank Online banking account with structured savings made to meet specific goals such as remodeling, vacations, a new vehicle, and so forth. These can be tailored in a way similar to a certificate of deposit, though the interest is not always guaranteed.
Finally, Money Market savings are available to Sovereign Online customers. These are standard money markets with tiered interest rates according to the amount on deposit. They include limited checking per month and have competitive rates of return.
All of these Sovereign Online banking accounts are available right now and are FDIC insured to the fullest extent of the law.
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Personal Finance New Carnival – September Edition on
Fri, 18th Sep 2009 5:38 am
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