EGG SAVINGS INTEREST RATES, FEES AND AGREEMENTS

2007-04-17 04:46:40

( Financial )



Egg Savings Account

Egg savings account is internet banking savings account which offers convenience in handling your savings accounts. Internet banking has no office; hence, it is termed as stand alone bank. It saves operation costs by handling transactions online. Thus, it distributes the savings they get from its operations to its clients through provision of higher interest rates for savings accounts for example.

Interest Rates Computation

Egg Savings Account computes interest rates on a daily basis. The amount of interest is computed based on the balance of the savings account at the end of the day plus the amount of accumulated savings interest. Egg savings account earns annual interest rate every anniversary date. Check deposits will earn interest three days after its deposit into Egg savings accounts. Interest paid adjusts for every payment debited from the savings account.

Fees Charged

Egg Savings do not charge traditional fees for its operation and management. However, it might charge fees for non standard services as necessary. Its special services section in the account's term of service incorporates such fees to make it legal.

Customer Relationship Service Agreement

The customer relationship service agreement on Egg Savings Account stipulates clearly the things that Egg Company wants its depositors to know and what these depositors need to do with regards to their savings with the bank. Clients are required to sign this agreement prior to commencing with their banking relationship with them.

Supplemental agreements between clients and Egg Banking Company on special conditions annex to the main customer relationship service agreement. The bank creates special conditions whenever clients avail of new products under Egg Finance that require the creation of special conditions customized for such products availed.

Also, clients sign application forms that form part of the customer relationship service agreement. This might be the online application form or a paper application form as required by the bank.

Internet banking is convenient and offers higher interest rates compared to traditional banks. Clients are starting to take advantage of this type of banking services. It is actually gaining wider market support nowadays. However, it is best that you check out the authenticity of internet banks you stumble on net before you consider opening an account with them.


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