Savings accounts at banks and credit unions often come with a choice of interest rates, but some also offer deposit rates that are slightly better than the competition. For example, the interest rate on a savings account at BB&T is 0.
05% above the rate on a similar account at Wells Fargo. In addition, BB&T offers a tiered account structure with higher bonuses for depositing more money.
However, one of the best features of BB&T savings accounts is that they do not charge monthly maintenance fees. This means that if you make only modest deposits, your balance will stay relatively stable over time.
When comparing BB&T savings accounts to other banks and credit unions, it is important to consider the minimum deposit requirement as well as the interest rate offered. For example, the interest rate on a $2,000 deposit at BB&T is 0.05%, but the minimum deposit requirement is $25,000.
The interest rate on a $2,000 deposit at Wells Fargo is 0.15%, but the minimum deposit requirement is only $1,000.
Overall, BB&T savings accounts are a good option for those who want low-cost access to their money and don’t require high-yield investments or complex withdrawal procedures.
