ShoreBank’s High-Yield Savings Account has many pluses such as a high annual percentage yield. This great rate is possible because these accounts are opened and managed completely online.
It has a few advantages such as:
Manage savings online by making electronic deposits and withdrawals
Online access to bank statements
No monthly fees
$1 minimum deposit
Being able to make email inquiries – (in order for ShoreBank to provide such a solid rate, they are pushing customer service to online support)
Deposits at ShoreBank are FDIC-insured to the insurance limit which means individual and joint accounts are covered separately so those who have a ShoreBank joint account and a single account will receive the maximum FDIC coverage which is $500,000.
It’s also good to note that the online savings account application must be approved.
For more information about this online savings account, visit ShoreBank.