Benefits of Interest-Bearing Accounts: Are You Interest-ed?
For most people, having a simple checking and savings account is about all they really need. No need to make things complicated, just provide easy-to-access to safely save and access money, and they’re happy.
|Interest-bearing accounts are an easy way to increase the|
size of your piggy bank securely.
Simple checking and savings accounts are great financial tools that we at Lincoln Savings Bank believe everyone should have. However, for those who have a larger amount of funds or want to see their money work for them, an interest-bearing account is a safe and secure option to earn a return in a marketplace full of riskier investment options.
Lincoln Savings Bank offers one interest-bearing checking account, the “Abe” account, and three FDIC-insured savings options that pay interest:
- Savings account
- Money Market account
- Certificate of Deposits (CD)
However, these accounts shouldn’t be looked at only because they earn interest.
In a volatile economic climate, these are great financial tools. If you are risk-averse, now may not be the best time for you to take on more risk or committing to long-term investments. An interest-bearing account from LSB gives your money a safe place to live while also earning a little something on the side.
The best part is that these accounts are protected by the FDIC for the maximum amount, so if the worst does happen, your money is secure. These accounts are also easy to open! With LSB’s secure online account opening system, you can open any of these accounts in just minutes! Visit www.mylsb.com/opennow for current rates and to start the account opening process.
While the “Abe”, Money Market and CD accounts have a higher minimum balance requirement to open them, they also provide the greatest return. That being said, these accounts aren’t ideal for everyone. You can learn more about our checking and savings options to see if an interest-bearing account is right for you.
You can also call or come by one of our many locations for assistance, and our knowledgeable and friendly staff will be able to help.