Choosing a Savings Account | Texas Title Loan Blog

Choosing a High-Yield Savings Account

Now that you're paying down your debt and saving money, it's time to learn how to use a high-yield savings account. Making sure you get the most out of your savings will make the saving process faster and easier.

If you're still in the hole and need some fast cash, a title loan in Texas can get you the money you need in less than 24 hours with no credit check. After you use the loan pay it back as soon as possible and get your savings back on track. We don't charge prepayment penalties so you can pay it off as soon as you get back on track.

First Step to Picking a Good Savings Account

The best way to pick a savings account isn't too difficult. Just like anything in life you need to compare prices of different banks to see who is offering the best APY and benefits. APY stands for annual percentage yield and this is the interest you will receive on your savings account. As you can guess, the higher the APY the more money you will receive just for having money in your account.

Savings accounts are a great option for saving money that you will need access to immediately. Some of these accounts have minimums in order to collect interest so it's a good idea to keep an eye on how much you have in there if you need to take out money for any reason. If you look around enough, you can find accounts that have a balance between minimum account balances and interest rates.

If you're just starting out, you have a few options for accounts to look into. You can either put your money into an account with no minimum, in which case you'll probably sacrifice some interest, or you can find an account that pays tiered interest rates. Tiered interest rates pay you a different APY based on the amount of money you have in your account.

Title Loans in Texas

If you're in a hole right now and don't have enough money to pay bills let alone save money, you might want to consider Texas title loans. These loans can help you get over your financial hump and get your finances back on track.