Respuesta :
Select each of the factors you should consider when selecting a savings account. Choose all that apply.
penalties and fees - this is something to take into account when opening a savings because there are penalties and fees that may be associated with a savings account. If there is too many transfers out of the account, too much money withdrawn there may be a penalty associated with it.
late fee - this is not a payment or credit card question, this is a savings account.
minimum balance - some banks require a minimum balance on a savings account
interest rates - different banks give interest back on the money in the account each month
interest thresholds - credit card
variable interest rates - credit card
annual percentage yield (APY) - credit card
APR - credit card
While selecting a saving account following factors should be considered.
- penalties and fees
- minimum balance
- interest rates
- interest thresholds
- variable interest rates
- annual percentage yield (APY)
- APR
Factor Of Saving Bank Account
- penalties and fees: this is something to take into account when opening savings because there are penalties and fees that may be associated with a savings account.
- minimum balance: some banks require a minimum balance on savings account out of the account, if too much money is withdrawn there may be a penalty associated with it.
- late fee: this is not a payment or credit card question, this is a savings account.
- minimum balance: some banks require a minimum balance on a savings account
- interest rates: different banks give interest back on the money in the account each month
- interest thresholds: upper limit for the amount you want to keep in your Savings Account, which is known as the threshold limit.
- variable interest rates: The interest rate paid on the account is variable and deposits can be invested and withdrawn at any time.
- annual percentage yield (APY): the percentage rate of the total amount of interest earned on a deposit account, based on the interest rate and the compounding frequency for one year.
- APR: The Annual Percentage Rate (APR) is the cost you pay each year to borrow money, including fees, expressed as a percentage.
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