Posts by Brian Murphy32

Wells Fargo is currently offering some promotional interest rates on fixed-term savings accounts, though they did include a caveat that they'll be charging account maintenance fees for the first three months at $2.25/mo👎

Kimberly Nguyen said:From what I can gather, there aren't really any hidden fees involved, unless you count getting some paperwork notarized for certain types of pawn loans... or if a specific bank decides to tack on a fee just for managing your credit account...

Or are you actually talking about the interest costs? 🤷

No, I was thinking more along the lines of notary fees and stuff like that.
Basically, there shouldn't be any if you're using a deposit as collateral.
In that scenario, if I've understood this correctly, it should just be the bank's processing fee for approving the loan, which usually runs between 0.5% and 2.0%.

Besides the standard loan origination fee, I wonder what other costs might be involved with a pawn loan?

Oh, right, I noticed yesterday that Wells Fargo is running a promotion at the moment. Here is the link

Out of all the options available back then, I opted for a home savings plan about six years ago. In a month, I should be receiving the payout, and then we’ll essentially be starting the process all over again.
Our bank actually suggested we just extend the current contract for another five years; apparently, they wouldn't charge us any fees if we went that route. But, honestly, we need that cash right now, so we're going to go ahead and open a new account. We'll end up paying the fees, I suppose, but even with those costs, it still seems to yield a better return than any of those open-market savings models out there.