Savings Accounts

Savings accounts are used by people to save the extra money they have, after all the expenses are met. Money in savings account can be used at times of financial crisis or may be to save and buy something in the future, without taking a loan. Hence it is a good practice to own a savings account and start depositing in it.

WaMu is one of the institutions that provide customers with various Savings Accounts options such as Online Savings, Statement Savings, Traditional CD, Online CD, Liquid CD etc. Through Online Savings and Online CD, one can open an online savings account and can manage it online; with online statements. The checking account of a person can be linked to the savings account with Automatic Savings Plan through which extra money will be transferred to the savings account which will earn extra interest income on the otherwise idle money.

Certificate of Deposits (CDs) yield a higher interest rate as the deposits are made for longer terms. It also has the option to be managed online, which is through the Online CD. To provide the much needed liquidity to the customer, there is a Liquid CD as well. Thus, CD is an attractive option available to people if they can plan upfront for a huge purchase, as it gives a higher return. Due to the vast range of options available, I guess WaMu Savings Accounts are the best bet for people who want to save and invest.