Opening a savings account and signing up for automatic transfers from each paycheck is one of the best ways to develop a regular savings habit and build an emergency fund.
SmartyPig, a free online savings management tool, offers customers an opportunity to set savings goals and then link the SmartyPig online savings account with an external checking account or savings account for automatic transfers. Customers earn 1.35 percent APY and can make additional deposits at any time.
This type of financial tool works well for meeting specific savings deadlines for a vacation or a wedding or a down payment fund. Funds can be redeemed by transferring to an external account or getting a prepaid debit card.
Compare savings account terms and rates to find one that meets your needs.
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