Savings
Account - Savings and Investment
About Savings Accounts
A savings
account is usually set up through a bank. A savings account allows
you to put money aside and earn interest, at present between 2-3%
because you are in fact lending money to the bank.
You
can also withdraw or deposit money into the account as you want
to. You can sign up for a checking account, which allows you to
write checks from your bank account. The portion of the money in
the checking account does not earn interest or if it does, you have
to pay a monthly fee.
You
can open up a savings account at any bank. Banks now have ATM cards
which allow you to withdraw and deposit money at a machine outside
or inside the bank, rather than with a person called a Teller.
List
of Savings Account Providers
OCIS
provide general financial information, we urge you to consult an
Independent
Financial Adviser ( IFA )
before making any important decisions about your finances. |
