Savings Accounts
A savings account is a type of deposit account that is offered by banks and other financial institutions. Savings accounts are designed for consumers who want to save money, and they typically offer a higher interest rate than a checking account. Continue Reading Below
Encyclopedia Articles
Discover the definition of financial terms related to savings accounts.

What Is a Savings Account? Definition, Types, and Benefits
Andrew Latham

High-Yield Savings Account (HYSA): Definition and Mechanics
Andrew Latham

What Is a Certificate of Deposit (CD)? Definition and How CDs Work
Andrew Latham

What Is FDIC Insurance? Coverage Limits and How Deposit Protection Works
Andrew Latham

What Is a Credit Union? How It Works and How to Join
Andrew Latham

What is the annual equivalent rate (AER)? Definition, How It Works, and Examples
Abi Bus

What Is APY And How Is It Calculated?
SuperMoney Team

What Is a Rainy Day Fund? (And How It Differs From an Emergency Fund)
Andrew Latham

What Is A Share Savings Account?
Ossiana Tepfenhart

Account Balance: What It Is and How to Effectively Manage It
SuperMoney Team
Learn About Savings Accounts
Savings Accounts Pay 4.20% While the Average Pays 0.38%. Move Your Cash Before the Fed Meets
SuperMoney Team
Inflation Rose to 3.7% in September. Gas Is Up 34%, and That's Where Your Budget Is Getting Hit
SuperMoney Team
Your Bank Pays 0.37% While Inflation Runs 3.4%. After the Fed's Hike, Here's Where Your Cash Should Sit
SuperMoney Team

Current Savings Account Rates November 2024
Benjamin Locke

Trump Accounts Are Live: How to Claim the Free $1,000 for Your Kid (and What It's Really Worth)
SuperMoney Team

What Role Can Alternative Investments Play in Retirement Savings?
Michelle Jones

The Best Money Saving Challenges to Try in 2026 (Ranked by What You'll Actually Save)
Andrew Latham

Savings vs. Money Market? Which Account Fits You Best?
Jessica Walrack

How Much Should I Have in Emergency Savings?
Camilla Smoot

Best Places To Keep Your Emergency Fund
Jamela Adam

Checking vs. Savings Account: Which Do You Need?
Andrew Latham

How To Open A Savings Account: A Step-By-Step Guide
Lacey Stark

Should I Open a Savings Account and Why?
Erin Gobler

APR vs. APY: What's the Difference?
Bryce Sanders

How To Calculate Interest on Savings Account Funds
Sarah Sharkey

Savings Account vs. Roth IRA: Differences, Pros & Cons
Lacey Stark