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9 months ago

When selecting a savings account, you should consider the interest threshold. O True O False

Business

1 answer:

ElenaW [278]9 months ago

8 0

True. You should consider the interest threshold while selecting a savings account.

Interest thresholds are the maximum amount that you can keep in your savings account, also referred to as the threshold limit. This means that it is important to choose an account that holds the threshold at an amount that is convenient and suitable to your needs.

The other criteria that need to be taken into account while choosing a savings account are:

fees and penalties
lowest balance
interest rates and interest caps
fluctuating interest rates
(APY) annual percentage yield
(APR)

Simple financial transactions are one benefit of a savings account, as well as interest payments, ATM and debit card services, chequebook and passbook services, net banking and mobile banking, and a minimum average balance.

Learn more about a savings account here: brainly.com/question/4089097

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