What would be the best Savings account deal in my town?

I live in El Dorado, Arkansas. I am shopping around for a savings account for my local clubs funding. Which is the best?





First Financial Bank


鈥?Opening deposit of $25.


鈥?No monthly service charge unless balances falls below $100, service charge is $3 per month.


鈥?Unlimited transactions in person, by messenger or by mail.


鈥?Transfers from a Business Statement Savings account to another account or to third parties by preauthorized, automatic, computer, or telephone transfer are limited to six per month with no transfers by check, draft, or similar order to third party. An excessive transaction fee of $3.00 will be charged for each electronic transfer to a third party in excess of six during the month.


鈥?Interest compounded and credited quarterly.


鈥?Complete quarterly statement.


鈥?Free Internet and Telephone Banking.


Business Statement Savings may be used alone or in combination with Business Checking. It will help you conveniently keep track of your money while earning interest.


Timberland bank


Offers tiered interest. Your interest rate increases as your savings grow.


Funds are insured to the limits established by the FDIC.


Opening deposit is only $50.00.


Simmons First Bank


鈥?Earns interest, compounded quarterly.


鈥?Quarterly statement.


鈥?FDIC insurance.


鈥?Free direct deposit of Social Security and Retirement Checks.


鈥?Free notary service.


Unlimited deposits. Benefits and features subject to customer qualification and approval by Simmons First.


*$100 required to open account.





Bancorp South


鈥?No minimum balance to maintain or monthly service charge


鈥?Immediate access by making deposits and withdrawals at any time


鈥?Interest is calculated on the daily collected balance and credited semi-annually


鈥?Also, ideal for a child's first savings account


Six debit transactions during the semiannual statement cycle are allowed. A $5 withdrawal fee will be assessed for each excessive withdrawal over six.


Regions Bank


Compare Accounts - Savings


Features %26amp; Benefits Regions LifeGreen Savings








Opening Requirements LifeGreen Checking account


$5 with an automatic recurring monthly savings transfer from a Regions checking; Otherwise, $50


Interest Bonus 1


Interest Calculated Compounded daily, paid monthly on collected balances


Interest Tiers $0 - $2,499.99


$2,500 to $9,999.99


$10,000 to $24,999.99


$25,000 to $49,999.99


$50,000 +


Use as Overdraft Protection Yes


Service Charge None


Service Charge Waived When N/A


30% Discount on Safe Deposit Box2


Regions LifeGreen Savings





Accounts subject to the Regions Bank Deposit Agreement


1. A monthly automatic transfer of $10 or more from your Regions Checking Account to your LifeGreen Savings account is required to earn a 1% interest rate bonus. The bonus is paid on the average monthly balance for the year and paid on the anniversary of account opening. Maximum annual savings bonus of $250.


2. Subject to availability.|||You left out the most vital information: What are the interest rates? A good deal isn't so much of one if your money isn't doing anything for you. A bank that doesn't pay doesn't appreciate having your funds on deposit.|||You are looking at entirely the wrong things.





1) What is your short-medium goal for the funds?


2) What is you long term goal?





Do you want checking privileges, are you looking to maximize your overall wealth or get regular dividend payments (maximize cash on-hand), etc? And most important,





3) What is your risk comfort level for the cash?





My guess is that your best bet is a combination of a money market and series of short-medium term bonds. You can do all of that through Fidelity or Vanguard (my preference). My guess is that being creative will allow you access to all the cash on-hand that you need, while doubling the interest rate of the overall funds in instruments that are just as secure as any bank.