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Maximizing Savings in Opening New Account

I currently have an account with a credit union and want to open accounts at another bank. What should I be looking for in order to maximize my savings?

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You should ask about the annual percentage yield on other banks' accounts, and about any fees that might be charged. Generally, time deposits (CDs) pay more than regular savings accounts at any given bank.

Compare the rates and fees for various deposit types at banks in your area. Add to the mix the friendliness and helpfulness of the banks' staff, as well as the location convenience, if those things matter to you, then make your choices.

Published on BankingQuestions.com 3/05/08