One advantage to aging is the number of discounts businesses and organizations make available to seniors. Some might not realize major banks provide significant perks for those age 50 and older. Money surveyed the 25 largest retail and 15 biggest online banks to determine which offer the best services.
Here are the top banks for seniors:
- TD Bank: Best Overall. The 60 Plus Checking Account has no opening balance and earns interest on what’s deposited. Home equity and personal loans both are discounted. The only drawbacks are a $10 monthly fee and a lack of retail branches.
- Axos: Best for Low Fees. Axos Golden Checking has no fees on many services and the account earns interest. Checks are free and up to $8 in ATM fees are reimbursed monthly. It’s an online bank with no branches, and a minimum opening balance is required.
- Citibank: Best for Interest Rates. The Basic Banking Package offers interest on savings accounts, free unlimited checks, and no monthly maintenance fee. Customers have access to Citibank’s Identity Theft Solutions.
- US Bank: Best for Perks. The Easy Checking account has a low opening deposit and free checks. A discount is offered on safe deposit box rentals. The monthly fee is waived for those 65 and older.
Council of Seniors Wants Your Benefits to Grow
Here at Council of Seniors, we know Congress must pass The SAVE Benefits Act to help grow your bank account. Because Social Security annual cost of living adjustments (COLAs) were inadequate in recent years, this bill is crucial to return $581 to seniors.
Signing our petition right now will let Congress know this bill must become a priority.
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