Saving accounts are a type of deposit account kept by banks that pay interest. They let a person keep some of their money in the bank for immediate use. They also earn money through interest. Having a savings account in a bank allows a person to have money available for an emergency. Savings accounts may be opened at most banks, credit unions and trust companies.
References[change | change source]
- "Banking: Savings Accounts 101". Investopedia, LLC. http://www.investopedia.com/university/banking/banking7.asp. Retrieved 13 November 2015.
- "Savings account basics". Ontario Securities Commission. http://www.getsmarteraboutmoney.ca/en/managing-your-money/investing/bank-accounts/Pages/savings-account-basics.aspx#.VkYveb-ATIU. Retrieved 13 November 2015.