Understanding The WaMu Savings Accounts
When attempting to save money possibly the most fundamental step is locating an institution to save with. The institution must be reputable and have a strong asset base before you decide to trust in it. You must also research the bank to ensure that you are aware of any contingent liabilities that the institution might have. One of the most reputable institutions that we recommend is the WaMu or Washington Mutual Statement Savings Accounts. Not only does it have the added convenience of many local branches and Automated Teller Machine across the country offering withdrawals and deposits 24 hours a day there is also online account access.
The Basics of the WaMu Statement Savings Accounts
The Statement Savings account offers:
- A very competitive 3.30% Annual percentage yield on all balances since May 2008
- Attractive Rates are only available online.
- There are no minimum balance requirements,
- You can open an account with USD$1.00
- You can easily do an instant transfer to/from the WaMu Free Checking Account
What is the most attractive thing about the WaMu Savings is the ease with which it is integrated with the free checking account along with the attractive APY of 3.30%. Opening an account is a five minute process and all you will need is identification, (state id or drivers license), social security number and your permanent address.
There are other savings services offered by WaMu, the most beneficial being the certificates of deposits or CD’s as they are popularly known. The bank offers three types: Traditional CD, Online CD and the Liquid CD. A certificate of deposit is actually a short to medium term interest bearing investment that offers a fixed APY. These accounts are highly recommended by us and though they differ slightly in services they are sound investing options for individuals trying to achieve any savings goal.
Conclusively we believe that the WaMu savings options offer a sound investment plan despite your long term goals and needs and helps in what ever endeavour you are trying to save towards.
Today’s Word: Acceleration Clause
This is a clause that is found on the deed of mortgage document and it allows the mortgagor to declare or CALL the entire balance (principal and outstanding interest) due and payable for immediate payment in the event of default of payment or breach of contract by the mortgagee.
[tags]savings accounts,investments,certificate of deposit,acceleration clause,APY,Annual percentage yield[/tags]
