Low Interest Personal Loans Do Not Come Easy

Low Interest Personal Loans Do Not Come Easy

Some reasons to seek a personal loan may be to help yourself out of a financial bind of some kind or to make a purchase you do not have the cash for.When you are trying to decide whether or not to take out a loan for any one of these reasons it is important to know what you are getting into.

One thing to remember when using the funds from a personal loan to make a purchase of something is to be sure the loan you take out is a low interest loan.If you do not seek out a low interest personal loan you may be putting yourself into a very serious financial bind that is nearly impossible to recover from.

You should first of all know that most personal loans are not low interest loans and it is not always easy to get one with a low interest rate attached to it.Going through your local bank is the best way to receive a low interest personal loan, but you must have very good credit.You need to question your bank about the procedure you need to follow to improve your credit in order to get a personal loan through them, if your credit is not good enough at this time.Your possibilities of getting a personal loan from a bank may be limited if your credit rating is bad or less than perfect.

There is a website that is used by a company called Prosper to match an individual lender with an individual borrower online after a bank has denied them a personal loan.The Prosper website handles your request for a loan quickly after you sign on with them and receive a credit rating from them.Other individuals will be allowed to bid on your loan to help fund it and you will be able to tell your story, and even include pictures, of why you desire to be granted the loan.This is the best part about Prosper because these individual bidders typically are going to be more forgiving and understanding than the bank will be.

There is also the option of a payday loan or cash advance, but these are only for emergencies and these types of loans are not the low interest personal loans that you use to purchase something extra. Cash advance loans and payday loans have to be repaid quickly and there is a high interest rate on them.If money is needed to get you through an emergency situation of some sort then the payday loan may be the answer for you.This high interest personal loan option must be taken with extreme caution and with the understanding that it has to repaid completely and on time.

Since there are several different sources from which to choose a personal loan, and they all have their own interest rates and terms for repayment, it may take a little time and energy to find the suitable one for you.

By Expert Author: Alisdair Cosgrove
Article Source: http://www.articlesphere.com/

Small Personal Loans Bad Credit: Easy Finance To Take Care Of Needs

Small Personal Loans Bad Credit:
Easy Finance To Take Care Of Needs

It would be inappropriate to state that individuals with bad credit cannot get hold of any financial assistance. Of course to a certain extent, you will find it tough to cope with your needs with bad credit. But there are alternative too, from where these applicants can derive monetary assistance despite credit issues. This has been made possible with the introduction of small personal loans bad credit.

As the name refers, these loans are structured for those individuals with credit problems such as CCJs, IVA, arrears, defaults, non repayment etc. The loans are best to deal with needs which require small amount of finance. Since the amount required is relatively small, lenders approve the loans without asking for any collateral. This is quite beneficial as it paves the way for tenants and non homeowners to derive the loans. Moreover, homeowners too can avail the loans without putting their valuable asset as collateral.

The amount under these loans is approved on the basis of borrower’s income and repaying capability. it is here that loan providers may ask for certain documents like income and employment details, recent bank statements etc. Generally, the amount advanced is usually in the range of ?1000-?25000, which is sufficient enough to execute the various needs. This amount is usually made available for a term of 6months – 10 years.

Borrowers are free to utilize the loans as per the need and requirement. With the support of these loans, one can go for debt consolidation, home renovation, meeting wedding expenses, pursuing higher studies etc. Moreover by ensuring timely repayment of the loans, the borrowers have an opportunity to elevate the credit score.

The interest rate charged on the loans is slightly higher. This is due to the fact that the loans are approved without any collateral and that too with serious credit issues. However to get access to low rate deals, borrower can undertake a proper research by collecting and comparing the rate quotes of various lenders. In this regard, borrower can also take the help of online mode.

With small personal loans bad credit, it becomes extremely easy for a bad credit borrower to tackle their monetary needs without placing their asset under any risk.

By Expert Author: George Linken
Article Source: http://www.articlesphere.com/

Loans For Bad Credit: Erase Your Bad Credit Tags

Loans For Bad Credit: Erase Your Bad Credit Tags

Facing a financial odd in today’s world is a very common thing. Unlike the previous times people do not panic seeing an emergency moving closer. There are so many financial provisions to help each individual as per his or her needs or circumstances. One such assistance plan is loans for bad credit designed for the people with bad credit or no credit history.

A loan for bad credit is a source to procure financial support in form of a loan. This generally happens when a person is trapped with bad credit troubles and finds it hard to seek help from any other source.

With the loans for bad credit it has been made possible to obtain a loan for the purpose of dissolving the bad credit image. But with these loans, the bad creditors can easily borrow a loan amount to repay their due debts and unpaid bills. This helps them to discontinue the course of bad credit. By making timely repayments a borrower can easily reduce the number of creditors and bring down the value of borrowed amount to 35% of the credit limit.

The loans for bad credit are extended to only those individuals who have a bad credit score of 580 or even less than that. But the bad credit borrowers are required to fulfill certain terms and conditions in order to prove them a reliable applicant to attain these loans. The eligible borrower must be above 18 years of age and have a regular source of income.

Loans for bad credit are formulated for those people who have no credit or poor credit records. The loans for bad credit can be endowed in both secured and unsecured form. Through secured loans the borrower can apply for a loan ranging from ?5000-?75000 at low interest rates for a period of 5-25 years. However, the unsecured loans allow the borrower to apply for a loan ranging from ?1000-?25000 for a period of 6months to 10 years.

Thus, if an individual puts in his sincere efforts he can make the best use of loans for bad credit. These loans help in improving the credit history of the bad creditors.

By Expert Author: Charly Groom
Article Source: http://www.articlesphere.com/

Secured Home Improvement Loan: Give A Touch Of Personality To Your Home

Secured Home Improvement Loan:
Give A Touch Of Personality To Your Home

The only place that provides you solace and peace is your home. It is quite obvious that you will definitely want to add a bit of your personality to your abode. You want to make the home livelier by making some changes to it. But it is the lack of finances which is creating hurdles. Since the amount required is quite large, you cannot arrange it on your own. You have to rely on external financial support. However nowadays there are ways and opportunities to help you in this regard. Secured home improvement loan is one such beneficial loan scheme, which enables you to make the necessary changes to your home in a manner that suits you.

This loan is basically a collateral based loan scheme, which means to avail the loan you have to pledge one of your valuable assets as collateral. In most cases, it is your home which acts as a collateral. Placing collateral does not mean that your home is under risk. It simply provides an assurance to the lender that the amount borrowed will be repaid within the specified time period. Moreover, pledging the collateral helps you to avail the loan at very cheap interest rates.

Usually, the amount offered under this loan is large and is largely based on the equity value present in the collateral. In any circumstances, you can obtain amount in the range of ?5000-?75000. The reimbursement period is large and spans over a period of 5- 25 years. Those with imperfect credit history such as CCJs, IVA, arrears, defaults etc can also avail this loan. However for them, the interest rate charged will be slightly higher.

With the assistance of the loans, you can easily make certain changes to your home. You can use it for extending a room, construction of wall, erecting a swimming pool inside the courtyard, purchasing new furniture etc.

The most lucrative deals on the loan can be sourced by applying online. Not only this, the approval of the loan is fast as compared to other traditional lenders. Further by comparing the rate quotes, you can easily spot lenders offering this loan at cheap rates.

With secured home improvement loan, you have the finance to make the changes to your home according to your taste and sensibility.

By Expert Author: Simon P
Article Source: http://www.articlesphere.com/

Tenant Loans: Get Happy And Forget Your Pains

Tenant Loans: Get Happy And Forget Your Pains

The bad days are over for the tenants now. They will no more have to face lenders who refuse to lend money just because they do not have their own home. In fact, they will enjoy their loan term with these newly implemented tenant loans.

These loans are full of benefits and facilities which are meant only for the non-homeowners. The homeowners cannot apply for it. Keeping in mind the homelessness of the borrowers these loans are made to be collateral free. So, for getting money you will not have to risk your property. You will be provided a sound amount of ?1,000 to ?25,000 for 1 to 10 years. This amount is so sufficient that it will enable you to do lot many things.

What you can do is that you can pay off all your debts, can let your child take admission in the best college, can repair or modify your car or arrange your wedding. These problems often disturb a man and when you can get rid of it through these loans then what can be better than that?

For faster and tension free reception of loans you can get the online loans too. The benefits of going for the online loans are that you will not be harassed here and money, time and energy will not be wasted. Just fill a simple and free online form and get yourself the loan you want.

All kinds of tenants are considered to be eligible for these loans. Council tenants or those who stays with their parents can also apply for it. The same facilities are being provided to the bad credit holders too. They are never denied of the loan amount in the tenant loans, however poor their credit score is. County Court Judgments, arrears, skipping of installments, bankruptcy or defaults, whatever you carry, money will surely be provided to you.

By Expert Author: Peter Darwin
Article Source: http://www.articlesphere.com/

Loans For Tenants: Tenants Don’t Have To Look Any Further

Loans For Tenants: Tenants Don’t Have To Look Any Further

There was a time when tenants had a raw deal as far as getting loans was concerned. They were subtracted from the world of people who were acquiring funds easily by pledging their homes as collateral. Then came the introduction of loans for tenants and they experienced a new dawn. Why? Because these specialized loans can be sought to finance whatever personal projects that a tenant may have in mind.

Loans for tenants are unsecured loans that have done away with the demand for collateral. Whether you are a council tenant, an MOD tenant, a PG tenant or a non- homeowner living with your parents, you have a ready source of financial aid in these loans.
Purchasing a car, holidays, weddings, debt consolidation or renovating your apartment-one loan for tenants can make any of them possible in a short time.

Loans for tenants do have some eligibility criteria which are not really tough to meet:

• Being 18 years old or above
• Having a full time job with salary not less than ?1000
• Having a valid checking account with Direct Debit facility
• Having proof that you have lived at the current address for the past 12 months

The specific amount that you can borrow under a loan for tenant is dependent upon your financial status. Your credit record, income and repayment capability are three factors that influence loan approval. An amount in the range ?250-?25000 is generally available though. According to how much you get as your loan for tenants, your repayment term will be fixed for a period between 1 and 10 years.

High rate of interest is something that loans for tenants are accompanied by. For this, you will have to search the online sites for cheaper rates. You will have to request for the loan quotes of various lenders and compare them to figure out which offer is more suitable to your repayment capacity. Once you find your ideal loan for tenants, insufficient finance will become a thing of the past and your personal plans can be carried out with ease.

By Expert Author: Mary Jones
Article Source: http://www.articlesphere.com/

How The Credit Crunch Could Be Good News For Savers

How The Credit Crunch Could Be Good News For Savers

As anyone who has a passing interest in financial matters will be well aware of by now, the world economy is entering uncertain times. The so-called 'credit crunch', where banks are finding it harder and harder to finance their operations by taking out cheap credit with each other, is causing no small amount of alarm amongst analysts the world over.

While there isn't yet a consensus on what the final outcome will be, almost everyone agrees that we're in for choppy economic waters ahead - we're just not sure exactly how bad things are going to get.

However, amongst the doom and gloom, there is one group of people who might actually feel a benefit rather than the pinch: serious savers. To understand why, we first need to take a quick look at what the credit crunch is all about in the first place.

The basic operation of a bank is to make a profit by acquiring money cheaply, and lending it out again at a higher interest rate. The traditional way of doing this was to accept deposits from savers and investors, and then use these deposits to fund mortgages and other lending. By charging a higher interest rate on the mortgages than they pay on savings accounts, the whole endeavour becomes profitable. And if savings deposits were insufficient, banks could borrow from each other at cheap rates to make up the difference.

This sounds rather simple and straightforward, but in real life the financial markets don't like things so simple - it spoils the fun - and so a whole range of byzantine ways of financing loans and mortgages was devised. One such way was to split up liabilities for mortgages into parcels which were bought and sold between the banks, so theoretically spreading the risks around. This gave banks the confidence to lend to people with poorer credit ratings than would have been countenanced previously - in other words, the sub-prime market.

This was fine while times were good, but as the economy faces tougher times, more and more sub-prime borrowers are failing to keep up with their repayments, and defaults are growing.

And here lies the problem. Because of the intricate system of parceling up debts and trading them between banks, no one is quite sure how much each bank is going to suffer from a downturn. This means that the credit worthiness of each individual bank is somewhat open to question, and so lending between banks has all but dried up, leaving some banks over extended with no way of funding future lending at a profit.

The upshot is that many banks are desperate for money to continue trading in the way they have been doing. The central and reserve banks have done their bit by injecting billions of cheap funds into the industry, but banks are loathe to take up this option for fear of looking weak and under threat. So how else can they raise cash?

By encouraging savings deposits with higher interest rates, more flexible features, and rate guarantees into the future.

So, even though for many the financial future is at best uncertain and quite possibly bleak, for people with funds to deposit into savings accounts, there are opportunities ahead.

About the Author/Author Bio
Nicholas writes for Your Banking Guide, which features information on high interest savings and a savings account comparison feature.
By Expert Author: Nicholas Hunt
Article Source: http://www.articlesphere.com/

Smarter Ideas For Current Accounts

Smarter Ideas For Current Accounts

When we meet new clients and agree to work together, the number one aim we have for them is that they achieve their monetary and non-monetary goals in life.

You have probably heard us discuss some of the component parts to this, such as cash flow forecasting and smarter investing etc. However, one of the areas we cover is being smarter with the everyday issues, such as where do you keep your cash that is needed to cover everyday spending and direct debits etc.

Most clients tend to have ordinary bank accounts that pay very little if any interest, and yet the level of cash kept in these accounts can be many thousands or even tens of thousands of pounds.

So, what options do you have, and is this important anyway?

Well, first of all, we understand that some clients have an emotional attachment to their bank. After all, they may have been with them since they were a student, and the local branch is fine for them.

However, it could damage your wealth over time!

You have two main options.

Option 1 - Offset Flexible Mortgage With Current Account

Many of our clients have this type of mortgage. In recent years, the interest rates on these have reduced, meaning that the rates are almost as competitive as the cheapest deals.

If you are self-employed or have private practice income, this option is even more useful, since you can park your tax monies here.

For higher rate tax payers, this means that you are obtaining as an interest rate the actual mortgage rate of, say, 5.5%. But of course this is tax free, compared to a normal account being taxed at your highest rate.

However, just looking at a balance level on average of say ??7,500 in a given month, the savings could come to over ??400 a year. If you take this over 10 years, then we don't think ??4,000 is to be sniffed at.

Option 2 - Current Accounts That Pay Interest

If the mortgage option is not relevant, it makes sense to ensure that on any balances in your account, you get a decent rate of interest.

There are many more banks and building societies now offering competitive rates. Taking one offering from the Halifax, it gives 6.17% gross providing you pay in at least ??1,000 per month. So instead of recieving little or nothing on your account, you could earn ??462 a year.

This is taxable of course, which would mean net interest of ??370 for basic payers, and ??277 for higher rate payers. On a joint account it would be circa ??323. Still, over time this adds up, and we would much rather you had this than adding to the bank's profits!

The Financial Tips Bottom Line

Make sure you get the best value you can on each and every part of your financial planning, as it can soon add up to substantial amounts over time.

ACTION POINT

If you have a mortgage, investigate whether an offset loan would prove your best option. If not, and you are not being offered a decent rate on your current account, switch to a bank who will offer you this.

After all...it's YOUR money!

About the Author/Author Bio
Ray Prince is an Independent Financial Planner with Rutherford Wilkinson plc, and helps UK Resident Doctors and Dentists get the best deals on mortgages, protection and investments, as well as helping them achieve their financial objectives. Click here for Financial Advice for UK Doctors and Dentists and to get your free retirement guide, How To Avoid The 7 Most Common Retirement Planning Mistakes. Rutherford Wilkinson plc is authorised and regulated by the Financial Services Authority.
By Expert Author: Ray Prince
Article Source: http://www.articlesphere.com/

Tips to Become a Banks Preferred Customer

Tips to Become a Banks Preferred Customer

At age 18 you officially became - or will become - responsible for your financial life. Yes, that means flying solo and opening bank accounts. Although leaving the nest will bring with it many exciting benefits, there are also new things about banks that you should know to make life easier on you.

How you manage your bank accounts today will determine whether you're able to live the lifestyle you desire tomorrow. That's why it's important to open a bank account and establish a relationship with a bank as soon as possible. Opening a bank account will help you to develop a proven track record which can give you advantages when you need a student loan, a car loan, student credit card or a mortgage.

Why open a bank account?

1. Safety - Money that is held in a FDIC insured bank is safer than holding onto cash. Your accounts are insured by the government up to $100,000 so there is not a risk of losing money.

2. Interest - Everyday you have money sitting in a checking or savings account, the bank is paying you interest. Interest rates vary depending on the bank so when choosing a bank this is an important feature to compare.

3. Organizing your budget - A checking account is the hub of your finances. Money you deposit in there can be directed to pay bill, savings and investments.

4. Simplicity - Online banking allows you to automatically pay your bills. Once you set this up once you're done. You just need to make sure you have enough money in your account when your bills go out.

5. Tracking - Paying someone in cash can result in problems. That money can be pocketed instead of applied to your bill and there's no way for you to prove you paid them. Paying by check, credit card or debit card will leave a paper trail that will prove you paid the bill.

6. Deposits - Direct deposits from your employers to your bank offer you a paperless way to get paid. This saves you a trip to the bank and often you're able to access the money immediately.

7. Future services -Building a long-term relationship with a bank will benefit you more over time. As your banking needs grow you can get better terms on student loans, student credit cards, auto loans and other services the longer you have a relationship with a bank.

How to Open a Bank Account.

When you open a bank account you should be looking to build a long partnership with the financial institution. Building a long-term relationship with a bank means you will one day receive preferred treatment. The next time you need a student credit card or other type of loan, you will typically qualify easier and pay lower fees because of the relationship you have built. Think of it this way: the sooner you open your bank account, the sooner you will enjoy preferred treatment.

Find a bank that offers services you need now and may need in the future. Immediately, your needs just may be for a checking account. However think ahead to the services you will need in the future. You need a credit card, a student loan or another service the bank offers. It's much easier to locate one financial institution that can handle all your future needs.

In order to decide which bank is right for you and your money, you need to consider your expectations and purpose for opening a bank account: is it for business, pleasure, savings, wage-depositing, eventual loans, etc.?

Check out a few banks and compare bank fees, service charges, and interest rates. Also make sure their ATM's are convenient. If not you could rack up additional fees for using other bank's ATM machines.

When looking for a bank to do business with, select the bank that offers online banking. Online banking simplifies your life and makes all your banking transactions available at the click of a button. This allows you to check balances from the comfort of your own home and electronically pay monthly bills without ever writing a check. It also, it gives others the impression your bills are handled by a professional accountant.

Opening a bank account is the first step in building your financial foundation. The sooner you start developing a relationship with a bank or financial institution the more benefits you will receive now and in the future.

About the Author/Author Bio
To learn more practical banking tips visit www.FreeBy30.com for free video instruction. Vince Shorb, author of 'Financially Free by 30' and leading financial literacy advocate provides step-by-step instruction on how to automate your finances and reveals the secrets to wealth creation.
By Expert Author: Vince Shorb
Article Source: http://www.articlesphere.com/

Offshore Bank Account Tips and Issues

Offshore Bank Account Tips and Issues

Are you looking for a personal offshore bank account. Maybe you are looking for a corporate offshore bank account. Generally speaking, any bank account opened outside of one's native country can be considered an offshore bank account. The appeal of an offshore bank account is much more apparent during tax time, when assets and income must be reported to the IRS or other government revenue agencies abroad. This is why some companies and wealthier individuals prefer to open an offshore bank account in small sovereign states which allow account holders to remain virtually anonymous. For many years, an offshore bank account was indeed a convenient way to hide profits from illegal activities or underreported business earnings. Many people consider opening an offshore bank account for very legitimate financial reasons.

Bank

There is usually not much difference in service or benefits between the bank on the corner and a bank located in the Cayman Islands. These banks which are well established institutions offer an online corporate offshore bank account, with offshore credit card or debit card, and which can be operated via the internet, fax or phone. All bank accounts can be opened via courier post. None of the shelf offshore corporations have ever been in use or ever held a bank account.

Account

These banks which are well established institutions offer an online corporate offshore bank account, with offshore credit card or debit card, and which can be operated via the internet, fax or phone. The offshore banks were not obligated to report the existence of these accounts, and the account holders could legally pay little to no taxes to the host country. In recent years, however, the rules governing an offshore bank account have become much stiffer. Any bank account containing over $1,000 USD must be reported as income to the IRS, even if that bank account is in the Cayman Islands or Ireland. This is why some companies and wealthier individuals prefer to open an offshore bank account in small sovereign states which allow account holders to remain virtually anonymous.

Panama

One of the greatest advantages of having an offshore bank account in a favorable jurisdiction like Panama is that no one needs to know it exists. With a Panama bearer share corporation, wires moving through the wire system are not associated with any natural persons for more privacy. There is no capital gains tax in Panama on stock market trading gains making Panama a superb offshore stock brokerage jurisdiction. Bearer Share Corporations (Sociedad Anonima) Asset Protection with a full range of effective strategies including Panama Foundations and Corporations Providing corporate nominee directors and resident agent Offshore Bank Accounts in Panama with online banking Anonymous ownership of real estate anywhere Anonymous ownership of boats and planes anywhere Real Estate Investment (Panama real estate appreciating 58% per annum) Panama Passport Program Panama Residency, Citizenship, Visas Stock Trading Accounts in Panama with secrecy Offshore Visa, MasterCard from Panama Bank and other countries Offshore Merchant Accounts for high risk or low risk accounts. Bank secrecy laws in Panama call for prison sentences and/or fines for any bank employee, officer or owner who divulges any information about a bank account or account holder(s). The only way the bank can legally divulge any information about you or any bank account associated with you is by court order from a court in Panama.

Banking

It is important that the proper jurisdiction be selected when deciding which jurisdiction to use as an offshore banking jurisdiction. It may also be far more appropriate for an individual to consider structuring their offshore banking affairs through an offshore company so that they can gain greater confidentiality in their banking affairs. Offshore banking accounts are generally opened under the name of offshore companies or corporations. Offshore banking accounts need to be opened with an initial deposit to activate your account.

Tax

Companies incorporated in the Great Britain must pay tax on their worldwide income regardless of the country in which this income is generated. With the exception of charitable companies, there are no tax-exempt companies in the United Kingdom. Offshore companies or offshore trusts are not the illicit hideaways from tax authorities as sometimes presented. The tax-free status of the jurisdiction being used is always a major consideration. When selecting an offshore jurisdiction for your foundation one must take into account the following: freedom from taxes including inheritance taxation, anonymity of the foundation, ease of passing assets to beneficiaries, ease of operation and reasonable cost. Our overriding aim is to minimise your tax liabilities whilst maximising your company's income.

Companies

As more and more people worldwide discover the risk-free benefits of placing their business and personal financial-affairs well away from their own countries, offshore companies are being created on their behalf at a rate of over 150,000 per year. Many owners of offshore companies tend to operate the companies directly by themselves. It is absolutely critical that any client seek the information necessary to make a strong decision when opening an offshore account and forming offshore companies. Offshore banking accounts are generally opened under the name of offshore companies or corporations. To assure complete privacy, the shares of International Companies are often held by a discretionary trust.

Offshore banking has been routinely and legally used for many years by individuals and organizations worldwide. As with any type of bank account you have a choice when it comes to determining which offshore bank account best suits your needs and requirements. An offshore bank account will allow you to safely and privately explore, with few restrictions, the far reaches of the vast and diverse financial universe; from the bond markets of Korea to the stock exchanges of Eastern Europe; from ultra-private Liechtenstein trust arrangements to the most successful funds; from unique commodity investments to Caribbean corporations; from Israeli nanotech start-ups to age-old European blue-chips; from the mysterious and secretive world of offshore mutual funds to tax-free Swiss gold accounts; from Isle of Man Insurance contracts to Danish multi-currency investment accounts; from uniquely structured tax-free Austrian funds to Bulgarian mortgages; and much more beyond.

About the Author/Author Bio
To learn more about the Offshore Bank Account and other Offshore Banking issues, visit Offshore Legal
By Expert Author: Doug Snistola
Article Source: http://www.articlesphere.com/

The Different Kinds Of Savings Account

The Different Kinds Of Savings Account

It's always advisable to try and put some money aside for a rainy day, so that if you meet an unexpected expense or repair bill you'll be able to cope financially. It's also prudent to save some of your income as an investment for your future, especially in these days of uncertain pension prospects. Many people choose to invest in stocks and shares as over time this is likely to provide the best return, but for the majority of us the security of a bank savings account is more attractive. That being said, what kind of savings account should you choose?

The first kind of account we'll look at is known as a regular saver. With these accounts, you deposit a certain amount every single month. In the past, this amount tended to be fixed at a specified figure, but these days most accounts allow you to deposit an amount within a specified range. These accounts are a good choice for people with no capital but some surplus income, and usually pay a good rate of interest.

The other kind of account is the deposit account, which has no stipulation as to how you pay money into it. You can put in small amounts as and when you can afford it, or you can deposit a large amount when you open the account and leave it there, or a mixture of the two. These accounts come in three basic flavours, depending on how easily you need to get at your money.

Firstly, the instant access type of deposit account places no restrictions on when you can withdraw your cash. Next, the interest penalty type of account will let you withdraw as you wish, but won't pay any interest for the months in which a withdrawal is made. Finally, a notice account requires you to give thirty, sixty, or even ninety days notice before you make a withdrawal, or you'll be hit with substantial interest penalties.

In general, the easier it is to get at your money, the less interest you'll earn. Of course, this will vary from bank to bank, and you might be able to find an easy access account with a better interest rate than a notice account with a different bank, but the general rule holds. For these accounts, you need to trade off the likelihood of needing access to your money against the extra gains you could make by locking it away.

There's one other kind of savings or investment account which takes this idea of access restrictions to the extreme, namely bonds. With these accounts, you invest a lump sum in the account which is then locked away for a specified number of years, with no access at all. In return, you'll either get a preferential fixed interest rate which is much more attractive than normal accounts, a variable rate guaranteed to be better than average accounts over the length of the term, or a return linked to stock market performance with a guaranteed minimum return, These accounts will almost always give the best return out of all the types, but are only suitable for long term investments where you are certain you won't need to access your funds before the term is up.

About the Author/Author Bio
Nicholas writes for Your Banking Guide, where you can compare savings accounts, and read tips to help you earn high interest on your investment.
By Expert Author: Nicholas Hunt
Article Source: http://www.articlesphere.com/

Are You Looking for an Online Banking Services Without Fees Attached? Try ING Direct

Are You Looking for an Online Banking Services Without Fees Attached? Try ING Direct

ING Direct is an online banking web site that is very convenient for people. Since it is not the kind of bank with branches, but rather an online bank, ING Direct offers services without fees attached.

One kind of service that ING Direct provides is savings accounts. Savings accounts on ING Direct typically have higher interest rates than other banks, simply because they don't have the overhead fees of banks with local branches. There are no fees, no minimum deposits, no withdrawal charges, and you can have multiple accounts with different names for saving for different purposes. ING Direct savings accounts are linked to a checking account at your local bank for the purposes of making transfers back and forth. They do not use snail mail.

ING Direct does not offer checking accounts. They do, however, offer mortgages, home equity loans, mutual funds and also CDs of varying lengths. There are very low closing costs and no application fees for mortgages. Home equity loans have a large amount you can borrow, at a low rate, and have no application fees, no annual fees and no prepayment penalties. You can purchase a certificate of deposit (CD) from ING Direct for as short as a 6-month period and get a very good interest percentage on your money. CDs also have no minimums, so anyone can afford them. If you can keep money in for as short as 6 months, ING Direct offers one of the best interest rates around.

ING Direct allows you to schedule direct-deposit transfers to your savings accounts which will automatically be taken from your checking account. It is very easy to use, and easy for anyone to find a way to save money at a decent interest rate.

There are even rewards for referring friends to ING Direct. If you refer a friend and they sign up for a new account, ING will deposit $25 into your account. It's a good way to make extra money, and a legitimate way to save money.

ING Direct is FDIC insured, and has strong security measures in place to keep your information private and confidential. The web address is www.ingdirect.com .

By Expert Author: Muna wa Wanjiru
About the Author/Author Bio
Muna wa Wanjiru is a Web Administrator and has been researching and reporting on Internet Marketing for years. For more information on online Banking, visit his site at Online Banking