Savings accounts can be valuable tools for building a nest egg and ensuring that you meet your financial goals. Opening a joint savings account is an easy way for two or three people to manage their finances together. While a savings account in general can provide a stable method of putting funds away for projects, purchases and emergencies, a joint savings account is a way for people to save funds for the future together.
Interest earned on a savings account can definitely add up as savings grow over time. Interest accrued on savings accounts is compounded on a regular basis; the frequency of compounding depends on the bank. At Ally Bank, we compound interest daily, so your balance grows faster. Moreover, opening a joint savings account can make the balance grow even faster if both of you contribute to it on a regular basis.
Opening an Account
You usually can open a joint savings account online from your own mobile, tablet, or computer at your own convenience. To find an account that fits your financial needs, pay attention to restrictions and fees in addition to interest rates. You can compare banks and rates by visiting Bankrate.com Once you find the online bank that is right for you, open your joint savings account in a few easy steps and enjoy the advantages they offer. Keep in mind, however, that when you open a joint savings account, each person listed on the account has complete and full access to the funds, so it's important to open a joint account with someone you trust.
Learn more at Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.