What Can I Expect From a Savings Account?įrom an everyday, run-of-the-mill savings account, you can expect: Think of it as a safer version of your beloved childhood piggy bank. but that’s okay! With this savings account, you’re not worried about your rate of return. If we’re honest, it’s nothing to write home about. But on top of having your checking account’s back in case of an overdraft, the savings account can actually earn you money. Think of it this way: Checking accounts and savings accounts are inseparable best buds.
#Money market account free#
You might be asked to keep a minimum balance in your savings account at all times, but your bank could throw in a free checking account.Ĭalculate the growth of your money market account with this free tool. It gives you a safe place to put your hard-earned money that you won’t (or shouldn’t) be touching for a while. What Is a Savings Account?Ī savings account is a free account you can open with your local bank. You’ve probably heard that your best two options for saving are money market accounts and savings accounts.īut which is better? Don’t worry-we’ve got the scoop on when it’s right for you to use a money market versus savings account. But you also need a better place to park your money.
#Money market account how to#
Whether you realized it or not, that hard-to-open piggy bank was teaching you how to save your money.Īnd now that you’re older and saving for things that are much more expensive than an ice cream sandwich, you really can’t afford to pull the plug on the piggy bank. So when the ice cream truck came around, it seemed impossible to get your money out-and for good reason. The plug in the bottom was hard to open, and the slit at the top was too small for your chubby little fingers to fit through. You should consult your personal tax and/or legal advisor concerning your individual situation.When you were little, saving money looked like putting every dime of your allowance in a piggy bank. Nothing on this website should be considered investment advice, or a recommendation or offer to buy or sell a security or other financial product or to adopt any investment strategy.įirst Horizon Advisors does not offer tax or legal advice. The contents of this website are for informational purposes only.
#Money market account license#
Arkansas Insurance License # 100110355.įirst Horizon Advisors, Inc., FHIS, and their agents may transact insurance business or offer annuities only in states where they are licensed or where they are exempted or excluded from state insurance licensing requirements. The principal place of business of FHIS is 165 Madison Ave., Memphis, TN 38103. (“FHIS”), a Tennessee corporation, and a subsidiary of First Horizon Bank. Insurance products are provided by First Horizon Insurance Services, Inc. Investment management services, investments, annuities and financial planning available through First Horizon Advisors, Inc., member FINRA, SIPC, and a subsidiary of First Horizon Bank. Trust services provided by First Horizon Bank.
Insurance Products and Annuities: May be purchased from any agent or company, and the customer’s choice will not affect current or future credit decisions.įirst Horizon Advisors is the trade name for wealth management products and services provided by First Horizon Bank and its affiliates. Insurance Products, Investments & Annuities: Not A Deposit | Not Guaranteed By The Bank Or Its Affiliates | Not FDIC Insured | Not Insured By Any Federal Government Agency | May Go Down In Valueīanking Products and Services provided by First Horizon Bank.
APY is variable and subject to change without notice. APYs listed are for accounts opened in the Tennessee market and can vary in other markets. *** Standard Annual Percentage Yields (APY) are as of. ** Federal law requires that we convert a savings account to a checking account if you exceed six preauthorized or automatic debits or withdrawals per month, including transactions by check or similar order payable to a third party. Balances are considered together for purposes of FDIC insurance coverage.
* $250,000 FDIC coverage refers to the total of all deposits that an account owner has at each FDIC-insured bank in different ownership categories. The account balance determines the Annual Percentage Yield (APY) paid for all funds in the account.įor additional information, please refer to the Depositor Agreement and Disclosure Statement. For additional information on service fees that may apply to this account, please visit our Account and Service Fee Summary page.
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