Umpqua Bank Savings Account Rates April 2011

Umpqua Bank is one of the well-known banks in the country and they offer many kinds of products and services to their customers. Some of their popular products include checking account, high interest savings accounts, CDs and money market accounts. Each of these products come with varied features that are suited to meet the needs of different people.

The savings account of Umpqua Bank comes with a lot of convenient features. The minimum amount required to open an account is $100 and it comes with free online banking. It is also tied to a checking account for protection against overdraft. There is a monthly service fee of $3 and it is waived with a minimum daily balance of $200. The current Umpqua Bank savings account rates are 0.05% APY for all balances. The interest is compounded quarterly, but these earnings may be reduced due to additional fees.

Besides knowing the savings account rates at Umpqua Bank, a potential customer should also understand the other fees charged by the bank. The withdrawal fee at other ATMs is $2 while for balance inquiry, it is $1. The expedited debit card fee is $37.50 and a debit card replacement fee is $10. Its important that every customer understands these rates and fees before deciding to invest in the Umpqua savings accounts. Also, a maximum of six free transactions are allowed in a statement period and when this limit is exceeded, there is an additional fee of $5 per transaction.

In short, the Umpqua Bank savings rates are reasonable in the given market conditions and the features are good. This makes it ideal for anyone looking to earn some money on extra funds.

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