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Answered 2009-05-18 21:38:18

Generally a savings account pays interest, and a checking (current) account doesn't.

Also, a savings account cannot be overdrawn, but with permission, it is possible to overdraw a checking (current) account. The previous person is correct, a savings account simply lets you save your money and make a little bit at the same time. With a savings account it is a little harder to spend it since they are not typically tied to a checkbook.

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I think what they mean is interest income earnt from having money saved in a savings account.

You may be able to add someone to your savings account the bank where you have the savings account for details

For you can put money in it. Like it is an savings account.

It's like cosigning a loan. It puts you at partial responsibility for the account.

No, the Egg savings account called "Egg Savings Account (internet) Issue 2" does not have a monthly service charge. This type of savings account is accessible online.

Its where your savings account earns interest on the interest.

A CD savings account might earn money for you. This type of savings account earns interest for the person who purchases the CD.

The main difference between a savings account and a checking account is that a savings account has an interest rate. A savings account is also mostly used for saving money, although, both accounts allow you to take money from them as you please.

You first need to sign up for a savings account through a local bank and get a savings account number. Then you can go online and access your account on there.

A business savings account his connected to a business. While a personal savings account is connected to an indvidual.

I don't get interest in my salary account so I want to change it to savings account

A savings account at a credit union is generally called a share account.

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.

A bank account, savings account, or family trust fund are a few options, it depends what you mean when you say 'in'.

Typically - you will not be able to find the "best" savings account, due to the fact that savings account do not generate a lot of income regardless. Your best bet would be to use the savings account with your bank, or try out a Certificate of Deposit.

You can open a savings account at any bank or credit union. There are online bank savings accounts, too.

If the savings account gives you interest, your savings will grow a little.

A CD savings account is the same as a regular savings account, but for a fixed term such as 6 months or a year or five years. The interest rate on a CD savings account is typically higher than a standard savings account because you are keeping your money in the account until maturity. Once it matures, you can withdraw the amount plus interest accrued.

If you have a savings account at a bank, then it is a bank account. If you have it in another kind of institution, such as a Credit Union or Savings and Loan, then it is not a bank account, although some people use the term "bank account" loosely and apply it to any savings account anywhere.

A savings bank account is an account that is designed to store savings. You cannot draw money out of it using a debit card or checks, but it pays a higher interest rate than a checking account.

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.

A mutual savings and loan is the best place to have a savings account. There are plenty of good and reputable savings and loan banks out there. You can just look for them.

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