Latest news with #savingsaccount
Yahoo
4 days ago
- Business
- Yahoo
NBKC Bank review (2025): Simplify your financial life with convenient, fee-free online banking
Summary: NBKC is a Kansas-based online bank that offers consumer banking products such as CDs, money market accounts, and a combination checking and savings account. NBKC Bank provides products and services to individual, business, and fintech customers and is an established lender offering a wide range of loan products, including mortgages, personal loans, and auto loans. NBKC offers a combination checking and savings account that allows customers to spend and save money with one account. Customers can set up autopay for their regular bills, create savings goals for future expenses, and track their progress and spending along the way. This account currently offers an annual percentage yield (APY) of 1.75%. NBKC's money market account doesn't charge any fees and has a minimum balance requirement of just $0.01 to earn interest on your balance. NBKC's CD terms range from seven months to five years and require a minimum opening deposit of $250 or $1,000, depending on the term you choose. It also offers personal IRA CDs. Homebuyers and owners can benefit from NBKC Bank's mortgage offerings, which include conventional loans and VA loans, refinancing options, and home equity loans. NBKC also offers other types of financing options like auto loans, personal loans, bridge loans, and land loans. This embedded content is not available in your region. NBKC doesn't charge many fees, but here's a closer look at the account fees NBKC customers can expect to pay: Outgoing domestic wire: $5 Incoming and outgoing international wires: $45 There are a few major perks and drawbacks customers should be aware of before deciding to bank with NBKC. Offers ATM reimbursement: NBKC customers have free access to more than 90,000 ATMs worldwide, and the bank will reimburse up to $12 per month for out-of-network ATM fees. Low minimum balance requirements for checking/savings and MMA: NBKC does not require a minimum opening deposit for its Everything and money market accounts, and the minimum to earn interest on those balances is $0.01. No monthly fees: NBKC does not charge any monthly maintenance fees for its deposit accounts. Short-term CDs require $1,000 to open: NBKC's CDs offer competitive rates, but CD terms of a year or less require a $1,000 deposit to open an account. This is on the higher end compared to other banks. Doesn't offer Zelle: NBKC Bank is not currently on the Zelle network. No standalone checking pr savings accounts: NBKC only offers a combination checking and savings account; it does not offer standalone accounts for customers who only need one of those products. NBKC Bank representatives are available via telephone Monday through Friday between 7 a.m. and 6 p.m. CST. Live chat is available Monday through Friday from 7 a.m. to 6 p.m. CST and Saturday from 9 a.m. to 1 p.m. CST. NBKC also offers customer support via email. To report a lost or stolen debit card, representatives are available 24/7. To inquire about an online account application, representatives are available Monday through Friday between 8 a.m. and 5 p.m. CST. Home loans support specialists are available Monday through Friday from 8 a.m. to 7 p.m. CST, and for any questions related to NBKC mortgages, support is available Monday through Friday between 8 a.m. and 5 p.m. CST. NBKC's mobile app is available for download on the Apple App Store and Google Play and has a rating of 4.5 and 4.4, respectively. Customers can use the app to move money between accounts, set savings goals, deposit checks, check balances, and more. NBKC encourages its customers to donate to worthy causes by partnering with Spiral, a donation platform that streamlines charitable contributions. Customers can submit donations directly from their online banking account and will receive annual tax paperwork detailing their monetary gifts. Previously, NBKC Bank partnered with Shop Local KC in the redesign of its Leawood branch. The shared space features a retail shop showcasing accessories, home goods, and artwork from local artists and small businesses. Yes, NBKC's deposit accounts are FDIC-insured up to the federal limit of $250,000 per depositor, per institution, per ownership category. Yes, NBKC is a legitimate and reputable bank. It was founded in 1999 and is an FDIC-insured institution. Yes, NBKC Bank offers a mobile app that's available for download in the Apple Store and Google Play. NBKC Bank operates primarily online. However, if you live in the Kansas City, Missouri area, you can visit a physical branch. NBKC is owned by Ameri-National Corporation.
Yahoo
26-05-2025
- Business
- Yahoo
Best high-yield savings interest rates today, May 26, 2025 (Earn up to 4.44% APY)
Today's savings account rates still hover well above the national average. The Federal Reserve cut the federal funds rate three times in 2024, which means deposit account rates are also on the decline. It's more important than ever to ensure you're earning the highest rate possible on your savings, and a high-yield savings account could be the solution. These accounts pay more interest than the typical savings account — as much as 4% APY and higher in some cases. Not sure where to find the best savings interest rates today? Read on to find out which banks have the best offers. In general, high-yield savings accounts offer better interest rates than traditional savings accounts. Still, rates vary widely across financial institutions. That's why it's important to shop around and compare rates before opening an account. As of May 26, 2025, the highest savings account rate available from our partners is 4.44% APY. This rate is offered by Peak Bank and there is no minimum opening deposit required. As you'll see, the majority of top savings rates come from online banks. These institutions have much lower overhead costs than traditional banks, so they can pass those savings on to customers in the form of higher rates and lower fees. Here is a look at some of the best savings rates available today from our verified partners: This embedded content is not available in your region. A high-yield savings account can be a good fit if you're looking for a secure place to store your money and earn a competitive interest rate while maintaining liquidity. Traditional savings accounts and certificates of deposit (CDs) have some of the highest interest rates we've seen in more than a decade, thanks to recent interest rate hikes by the Federal Reserve. Even so, the national average for these rates is fairly low compared to the top offers available. For example, the average savings account rate is just 0.41%, while 1-year CDs pay 1.77%, on average, according to the FDIC. The Fed is also expected to lower its target rate again in 2025, which means now might be the last chance for savers to take advantage of today's high rates. Taking the time to compare accounts and rates from various financial institutions will help you secure the best deal available. However, interest rates aren't the only factor to consider when choosing a savings account. For example, some banks may require that you maintain a minimum balance to earn the highest advertised rate and avoid monthly fees. Other factors to evaluate include customer service options and hours, ATM and branch access, digital banking tools, and the overall financial stability of the institution. Additionally, before opening a savings account, be sure that it's insured by the Federal Deposit Insurance Corporation (FDIC) — or the National Credit Union Administration (NCUA) if it's held by a credit union — so your money is protected in case the institution fails. Read more: How to open a savings account: A step-by-step guide
Yahoo
24-05-2025
- Business
- Yahoo
How To Create and Execute a Savings Plan
If you're trying to build an emergency fund, save for a vacation, or put money aside for a new laptop, having a savings plan can make it much easier to hit your goal without feeling overwhelmed. Read More: Find Out: Here's how to create a savings plan that works and how to follow through until you reach your savings goal. First, get clear on your goal. The more specific you are, the better. Instead of saying 'I want to save money,' say 'I want to save $2,000 for a trip to Italy next summer' or 'I want $1,500 for a new computer by the end of the year.' Giving your savings a purpose helps keep you motivated. You'll also want to decide when you need the money. Your timeline plays a big role in how much you'll need to set aside each week or month. A short-term goal may require tighter contributions, while a longer timeline gives you more flexibility. Once you know your goal and timeline, it's time to do some math. Take your total savings goal and divide it by the number of weeks or months until your deadline. That's your savings target for each period. For example, if you want to save $1,200 in six months, you'll need to save $200 a month or $50 a week. Breaking it down like this makes it feel more doable since it's easier to commit to $50 a week than to come up with a lump sum at the last minute. Keeping your savings in a separate account makes it easier to track your progress and harder to spend the money on something else. You can open a free high-yield savings account online or use one through your current bank. If possible, nickname the account based on your goal, like 'Mexico Trip' or 'Emergency Fund.' That visual reminder can give you a little extra push when you're tempted to dip into the money for something else. The easiest way to stick to your savings plan is to remove the decision-making. Set up automatic transfers from your checking account to your savings account right after payday. That way, you're paying yourself first before your money gets eaten up by everyday expenses. Even if you can only start with a small amount, you'll see a pretty big difference in your savings if you stay consistent. For example, saving just $25 every week can still add up to $1,300 in a year. And you can always increase the amount later when you have extra cash to contribute. There isn't only one way to reach your savings goal. You can also boost your savings with windfalls or extra income like tax refunds, birthday money, or side hustle money. You can also look at your spending and see where you can cut back temporarily. For example, you could consider canceling a subscription for a service that you barely use or cooking at home more often. Saving money is a long game, and it helps to see how far you've come. Use a tracker app, spreadsheet, or even a printable savings chart you can color in as you go. Watching your savings grow is motivating, especially when you hit key milestones. If your goal is $1,000, you could treat yourself to a $10 coffee when you reach the halfway point. These small rewards keep the process enjoyable and make you more likely to stick with it. According to the Federal Reserve's recent report on the economic well-being of U.S. households, 30% of adults indicated they could not cover three months of expenses by any means. That's why having a clear savings plan is so important. It helps you afford a future expense and gives you space to breathe when things go wrong. So if you haven't already, follow the above-mentioned steps to create and execute your savings plan. And if you need help with it, contact a financial advisor to help you map out the best course of action. More From GOBankingRates 8 Common Mistakes Retirees Make With Their Social Security Checks Sources:Board of Governors of the Federal Reserve System, 'Report on the Economic Well-Being of U.S. Households in 2022 – May 2023' This article originally appeared on How To Create and Execute a Savings Plan Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
13-05-2025
- Business
- Daily Mail
My simple strategy to avoid ending up with a dud account as banks furiously cut rates: SYLVIA MORRIS
If you want to get a top rate on your savings, make a note in your diary now to act in two weeks' time. Rates have started to tumble since the Bank of England base rate was cut from 4.5 per cent to 4.25 per cent last week, its lowest level for two years.
The Independent
13-05-2025
- Business
- The Independent
Trump's ‘big beautiful bill' proposes a MAGA bank account for kids. What does it mean?
What President Donald Trump has referred to as his 'big beautiful bill,' currently being shepherded through Congress, includes a proposal for a 'MAGA' savings account for children. The savings account name stands for 'money account for growth and advancement,' but shares an acronym with the Trump slogan, 'Make America Great Again.' The bill's own name also harkens back to what Trump has called it. The legislation is called 'the one, big, beautiful bill' in all capital letters and includes a number of Trump's campaign pledges. House Republicans have come under pressure to pass tax reform, which Trump pledged to do during the campaign. The MAGA account is a tax-advantaged account that can be opened for children aged eight and under. They then won't be able to access the account until they turn 18, Newsweek noted. The legislation says that the federal government would add $1,000 to the accounts of children born between 2025 and 2028; however, contributions are limited to $5,000 a year. Eligible children must be U.S. citizens 'at birth' and have a Social Security number. Republican Texas Senator Ted Cruz has been a proponent of the idea of a savings account for children. 'The case I made to my colleagues is: We should ask ourselves in this bill, what will be the legacy that people will remember and talk about 10 years from now, 20, 30, 40 years from now?' Cruz told Semafor earlier this month. The legislation would create accounts for 'every child born in America to help them begin the journey of savings and benefit from the wonders of compound interest,' he added. In the House legislation, the proposal is listed as the "MAGA Accounts Contribution Pilot Program." The accounts would be "exempt from taxation,' the draft of the House bill states. Democratic New Jersey Senator Cory Booker has previously put forward the idea of 'baby bonds,' which also suggested putting $1,000 in savings accounts for U.S. babies. The savings account is a small part of a massive bill that currently suggests tax cuts of $4.9 trillion to aid tipped workers and those working overtime, as well as retired Americans. The cuts would partly be funded with cuts to Medicaid, food stamps, and green energy initiatives. It would also hit private universities with a new endowment tax of as much as 21 percent. For instance, Harvard remains reliant on its endowment amid a legal battle with the Trump administration. The Trump White House has removed Harvard's federal funding and said that it will remove the university's tax-exempt status. Harvard has said the effort has 'no legal basis.' The bill would also increase the federal debt ceiling by $4 trillion. Trump has spoken about the matter in private for months, noting that he wouldn't want to be pushed into a spending agreement with Democrats to avoid a default, Politico reported. 'When I return from the Middle East, where great things will happen for America, we will work together on any and all outstanding issues, but there shouldn't be many — The Bill is GREAT. We have no alternative, WE MUST WIN!' Trump wrote on Truth Social on Monday. 'I sure hope House & Senate leadership are coming up with a backup plan,' Texas Republican Rep. Chip Roy wrote on X on Monday. 'Because I'm not here to rack up an additional $20 trillion in debt over 10 years or to subsidize healthy, able-bodied adults, corrupt blue states, and monopoly hospital CEOs.'
