What should you know to choose a financial institution?
When you compare banks and other financial institutions, you should ask these questions to help choose the best one:
- Where can you get the highest rate of interest on your savings?
- Where can you obtain a savings or checking account with low (or no) fees?
- Will you be able to borrow money from the institution with a credit card or another type of loan when you need it?
- Do you need an institution that offers free financial advice?
- Is the institution covered under Deposit Insurance and Credit Guarantee Corporation (DICGC)?
- Does the institution have convenient locations?
- Does it have online banking services?
- Does it have any special banking services that you might need?