A savings account is a good place to keep small amounts of money that you do not intend to use immediately.
See some common questions and answers below
A savings account is an account at a bank or credit union that allows you to deposit money for future use. Savings accounts accrue more interest than a checking account. Online savings accounts tend to have higher interest rates than do brick and mortar financial institutions.
A savings account is a great place to keep money. Because the interest rates are generally low, you do not want to hold a lot of money in a savings account.
If you have an income, you should have a savings account.
Savings accounts are generally free to open but you may need a minimum amount to open one ($5 to $20) and some accounts require you to keep a minimum balance.
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