When savings interest rates are low, like now, opening a new account may not be at the top of your to-do list. And with the uncertainty that comes with the COVID-19 pandemic, you may be thinking about keeping your savings close at hand. However, opening a traditional savings account may be the right solution if you need to find a place to keep your savings.
An FDIC-insured savings account can provide security, earn a modest interest without exposure to the volatile stock market, and allow easy access if you need it. While the current rates won't reap huge dividends, you won't need to do anything once they start to go back up. And opening accounts has never been more effortless. Most banks offer simple online account opening and access, which is especially valuable during the COVID-19 pandemic.
If you have the money to put in a savings account, now is the time to do it. Even though rates are low, they will eventually go back up, and when they do, you will be prepared.
If you would like to learn more about opening a savings account at NASB, call 1-800-677-6272.
