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A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.
Money grows in a savings account because:
a. The account holder usually makes small deposits regularly into the account
b. The money in the account earns a small interest and hence keeps growing in value
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∙ 13y ago
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What happened when you leave money in a savings account for at least 6 months?
If the savings account gives you interest, your savings will grow a little.
How are money market savings accounts different from regular savings accounts?
A money market savings account is a special kind of savings account. Money market account holders receive more money on their return. Money markets are secure.
How can a savings account help in money saving?
A savings account is a very good account to open up if an individual would like to start saving money. It allows extra saved money to be transferred from the checking account to the savings account.
What does a CD savings account do for me?
A CD savings account might earn money for you. This type of savings account earns interest for the person who purchases the CD.
Is a savings account really going to help you save money?
Yes, a savings account will really help you save money if you remain loyal to the fact that it is a savings account. You still have access to your money, but it's up to you to keep it saved.
What happened when you leave money in a savings account for at least 6 months?
If the savings account gives you interest, your savings will grow a little.
How are money market savings accounts different from regular savings accounts?
A money market savings account is a special kind of savings account. Money market account holders receive more money on their return. Money markets are secure.
Why open an savings account?
A savings account is a good place to keep money safe for future needs.
How can a savings account help in money saving?
A savings account is a very good account to open up if an individual would like to start saving money. It allows extra saved money to be transferred from the checking account to the savings account.
Why do you want a savings account?
A savings account is a great place to save money towards a particular goal (like a car, boat, home, etc) while letting the amount grow in interest income.
What is a type of savings account?
money market account
What is the purpose of a savings?
A Savings Account is a type of account that is designed to promote savings among the general public. You can deposit and withdraw money from this account but at the same time the bank offers you an interest on the money deposited into the account.
How can you get money that was in a savings account with stockport and district trustee savings bank in 1967?
To get money from a savings account from 1967, you will need some information proving that the account is yours. Contact the state unclaimed funds department in the state where the account was held and request your money.
What does a CD savings account do for me?
A CD savings account might earn money for you. This type of savings account earns interest for the person who purchases the CD.
Is a savings account really going to help you save money?
Yes, a savings account will really help you save money if you remain loyal to the fact that it is a savings account. You still have access to your money, but it's up to you to keep it saved.
Why do you need to have a savings account?
you dont NEED one, but its good to have one because when you grow older and you need some money you have some money saved up
What is best a money market account or savings account?
madhu
