Step One - SAVINGS
DEFINITION of 'Savings Account'
A deposit account held at a bank or other financial institution that provides principal security and a modest interest rate. Depending on the specific type of savings account, the account holder may not be able to write checks from the account (without incurring extra fees or expenses) and the account is likely to have a limited number of free transfers/transactions. Savings account funds are considered one of the most liquid investments outside of demand accounts and cash. In contrast to savings accounts, checking accounts allow you to write checks and use electronic debit to access your funds inside the account. Savings accounts are generally for money that you don't intend to use for daily expenses. To open a savings account, simply go down to your local bank with proper identification and ask to open an account.
A deposit account held at a bank or other financial institution that provides principal security and a modest interest rate. Depending on the specific type of savings account, the account holder may not be able to write checks from the account (without incurring extra fees or expenses) and the account is likely to have a limited number of free transfers/transactions. Savings account funds are considered one of the most liquid investments outside of demand accounts and cash. In contrast to savings accounts, checking accounts allow you to write checks and use electronic debit to access your funds inside the account. Savings accounts are generally for money that you don't intend to use for daily expenses. To open a savings account, simply go down to your local bank with proper identification and ask to open an account.
Whatever you are saving for, be it a car, a house, a holiday or just for a rainy day – you can find a savings account to suit your needs with Sara Banks .
SARA Serious Saver Account:
SARA Serious Saver helps you reach your savings goals by rewarding you with Premium interest* if you can commit to making no withdrawals and saving $20 or more each month (not including credit interest). With an interest rate 21%
SARA Online Account:
Access your money as often as you like through SARA Internet Banking, Phone Banking and branches, and you’ll still earn the full rate of interest. You’ll pay no monthly account fee, and earn a competitive interest rate.
SARA Ready Saver Account:
SARA Ready Saver is a simple account that gives you a higher interest rate as your savings grow. It’s ideal to set aside money for upcoming expenses and still earn interest, while having the flexibility to access your money anytime you need. Interest rate 7%
SARA Select Account:
An interest bearing everyday account for customers who keep an average monthly balance of $5,000 or more.
SARA School Account:
A first bank account for school students and under 18s, with no monthly account or transaction fees.
More information:
For more information or to apply for any of the SARA savings accounts:
Call 0800 7272
Visit your nearest SARA Branch
SARA Serious Saver helps you reach your savings goals by rewarding you with Premium interest* if you can commit to making no withdrawals and saving $20 or more each month (not including credit interest). With an interest rate 21%
SARA Online Account:
Access your money as often as you like through SARA Internet Banking, Phone Banking and branches, and you’ll still earn the full rate of interest. You’ll pay no monthly account fee, and earn a competitive interest rate.
SARA Ready Saver Account:
SARA Ready Saver is a simple account that gives you a higher interest rate as your savings grow. It’s ideal to set aside money for upcoming expenses and still earn interest, while having the flexibility to access your money anytime you need. Interest rate 7%
SARA Select Account:
An interest bearing everyday account for customers who keep an average monthly balance of $5,000 or more.
- Your $15 monthly account fee will be waived if your average monthly balance is $5,000 or more.
- No transaction fees, non-standard fees (including fees for using non-SARA ATMs) may apply.
- Tiered credit interest rates on your transactional funds.
- Easy access to your account 24 hours, 365 days.
- Interest rate 7%
SARA School Account:
A first bank account for school students and under 18s, with no monthly account or transaction fees.
- An everyday and savings account all in one.
- No monthly account or transaction fees, non-standard fees (including fees for using non-SARA ATMs) may apply.
- Credit interest paid on all balances.
- Interest rate 7%
More information:
For more information or to apply for any of the SARA savings accounts:
Call 0800 7272
Visit your nearest SARA Branch