Two types of saving money in the school coopertive thrift society Guyana?

Answer 1

In the school cooperative thrift society in Guyana, two common types of saving methods include regular savings accounts and fixed deposit accounts. Regular savings accounts allow members to deposit money at their convenience and earn interest, promoting consistent saving habits. Fixed deposit accounts, on the other hand, require members to lock in their funds for a specific period, offering higher interest rates as a reward for the longer commitment. Both methods encourage financial literacy and help students develop responsible saving practices.