Question

Savings account

Answer 1

A savings account is a bank account where you can deposit your money and earn interest on it. It is designed for storing funds that you don't need immediate access to, such as an emergency fund or money you are saving for a specific goal, like a vacation or down payment on a house. Savings accounts typically have lower interest rates compared to other types of investments but are considered safer and more liquid. They also often have restrictions on the number of withdrawals you can make each month.