| 19-11-2007: StanChart e$aver advocates flexible banking
KUALA LUMPUR: Standard Chartered Bank Malaysia Bhd has launched an online banking product, the e$aver, which is designed to complement regular savings or checking accounts. The e$aver offers high interest rates of up to 3.5% on savings while providing the flexibility of managing funds online with no lock-in period. Without the need for a minimum amount, it comes with no maintenance fee, no minimum balance fee, no over-counter fee as well as no StanChart ATM withdrawal fee. “With this latest initiative, we expect a total of 40,000 new sign-ups which would further strengthen our targeted 10% growth rate," said Shyam Srinivasan, StanChart Malaysia country head of consumer banking. An early bird bonus interest of 0.25% per annum will added onto the account for customers who sign up before Dec 31, 2007.
NuUnion Credit Union reinvents the checking account
LANSING � Credit union members know the benefits their credit union can offer that most banks cannot. But one Michigan credit union is providing unprecedented returns with its newest checking account. The account, known as SoSMART� Checking, provides NuUnion members with free ATMs nationwide and an impressive 6 percent interest on balances up to $25,000. "Our members have been telling us they're tired of paying ATM fees and want to earn interest on their free checking account," said Steve Winninger, president and CEO of NuUnion. "And we've been listening. We introduced SoSMART� Checking on Sept. 24 - a free checking account with a premium interest rate and free ATMs nationwide. SoSMART� is a unique product that allows our members to earn high interest while eliminating expensive fees.
New Money-rates.com Reports that Online Banks Continue to Offer the Best Deals
Money-rates.com is reporting that the rate decreases of interest rates by the Federal Reserve has not diminished the attractive deals on online checking accounts that online banks are offering. (PRWEB) November 12, 2007 -� Money-rates.com is reporting that the rate decreases of interest rates by the Federal Reserve has not diminished the attractive deals on online checking accounts that online banks are offering. A recent survey by the site indicated that the nation�s 100 largest banks were offering a rate on their basic checking account almost four points below that of the online bank checking rates posted by money-rates.com. According to web site editor, Clark Schultz, �The amazing part of online banks is that not only are online banks offering higher rates and lower fees than brick-and-mortar banks, but 2007 has seen large growth in the rewards programs offered by online banks which are largely unavailable at your local bank.
Diana Clement: Good old-fashioned bank account hard to beat
Most of us think of "cash" as being the folding stuff we keep in our wallets. Cash investments, however, can range from simple savings accounts to highly leveraged cash funds. Cash investments are liquid - or short term - and relatively safe investments. Many, such as simple bank deposits, offer a guarantee that your principal will be returned. Depending on your definition (and they vary) "cash" includes term deposits, cash management accounts and short-term, fixed-income securities (similar to debt securities but much shorter in duration). Closely related are fixed-interest investments for a specified term, says Philip Macalister, publisher of the website depositrates.co.nz. Over the long term, the return from cash investments doesn't keep pace with other investment classes.
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