Website: http://www.bb&t.com

Authority: Branch Banking & Trust Company or commonly abbreviated as BB&T is a US domestic bank that has a presense in 12 states with 1789 branches(FDIC 2012) and 2483 ATMs (2011). It has origins from 1872 and is a publicly listed company on the NYSE:BBT.

How to open a BB&T Savings Account:

- You can apply for this account online on the website at : http://www.bb&t.com

- For questions on opening this product you can call them by telephone on 800-BANK-BBT

- While it has a large branch network in 12 states, it especially has its most number of branches in VA, NC, FL, GA, MD. You can open an account directly at a BBT physical branch office.  You can locate your nearest branch office by using the website branch location search tools. 

What details are requested or required when opening a BBT Savings Account on the website:

BBT stipulates that it requires a SSN, Driver's License Number with its expiration and issue date, DOB, home address and a check or current bank account number for funding this account. It also asks for an email address, employment status, phone number and full name.

For assistance opening this account you can call - 800-BANK-BBT or 800-226-5228 and select Option 4.

Information on BB&T Savings Account Interest Rates:

BB&T like other banks across the country take into account a number of factors when determing the rates they set for their deposit accounts.  BB&t savings accounts are offered as a part of broad range of deposit instruments provided by banks that are interest bearing products like CDs and money market accounts. The rates set by the Federal Reserve have a significant infuence as well as funding costs and liquidity requirements, regulations and competition for deposits.

For a bank, net interest margin is an important element in determining whether a bank is profitable as it is the difference between the interest of loans and investments with interest paid on deposits. A reduced rate compared to competition could be because a bank may decide to reduce its costs by deliberately not pursuing expensive CDs and not compete with other banks for deposits and focus on noninterest bearing types of deposits. 

The interest rate APY applicable to this account is for the 'BB&T esavings' product and requires no minimum opening deposit or monthly maintenance fees.