High Yield Money Market Accounts :: Scottrade vs. E-LOAN

High Yield Money Market Accounts: Scottrade vs E-LOAN

E-Loan, Inc. is a leading financial services company which offers home mortgage, home equity, and auto loans. In addition, the website also provides online high yield savings and certificates of deposit (CDs). E-LOAN offers different kinds of mortgage options including 40, 30, 20 and 15-year loans as well as loan choices such as those with zero down or no Private Mortgage Insurance. Such loans are extremely popular among customers who finance a home loan in those locations where housing costs remain above the national average.

Besides, first mortgage loans and home equity loans, E-LOAN also provides auto, commercial, debt consolidation, student, and unsecured personal loans. The company funds the loans it originates mainly through warehouse lines of credit and then sells them in the secondary market.

The website offers an extensive range of refinancing options for customers. Customers can file an application for a mortgage refinance with a cash-out refinance or a home equity loan. E-LOAN provides two kinds of home equity loans namely; a home equity line of credit (HELOC), that extends a credit line which could be conveniently accessed whenever the borrower chooses. A home equity loan (second mortgage) provides lump sum cash, at the same time retaining the borrower's existing first mortgage. In addition, E-LOAN also provides car, truck, and motorcycle loans for both dealers and non-dealers as well as loans for lease buyouts and auto refinance loans for borrowers who are on the look out for better rates than their current car loans. The website offers approved vehicle loan applicants with a "PowerCheck," which operates mostly like a regular check. Besides, E-LOAN also offers high yield savings and CDs.

Scottrade, the frontrunner in private discount retail brokerage firms, enables investors to safely and securely place online trades. Scottrade.com showcases a broad range of features including research and analysis of the current stock market scenario and an exclusive range of products and financial services such as stocks, IRAs, bonds, CDs and a web trading platform which helps members to conveniently carry out online trading.

Besides, customers can conveniently manage their accounts, trade, find stock research, and get live streaming quotes, news, top ten lists and interactive charts. Some of the other major tools include personal stock lists and quick quotes which assist customers to track individual stocks and make timely trades during online investment. One of the special feature of the website is the ScottradeELITE, a sophisticated trading platform built exclusively for active traders. ScottradeELITE offers TotalView, which helps traders get an in-depth view of every bid and ask for every market participant, enabling them to make more effective trading decisions.

Nayanathara. S

Hi-Tech Editorial Division