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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

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Encyclopedia Articles

Discover the definition of financial terms related to savings accounts.

What Is a Savings Account? Definition, Types, and Benefits Thumbnail

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

Andrew Latham

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

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

Andrew Latham

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

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 Thumbnail

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 Thumbnail

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 Thumbnail

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

Abi Bus

What Is APY And How Is It Calculated? Thumbnail

What Is APY And How Is It Calculated?

SuperMoney Team

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

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

Andrew Latham

What Is A Share Savings Account? Thumbnail

What Is A Share Savings Account?

Ossiana Tepfenhart

Account Balance: What It Is and How to Effectively Manage It Thumbnail

Account Balance: What It Is and How to Effectively Manage It

SuperMoney Team

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Learn About Savings Accounts

Thumbnail for Blog Article: Savings Accounts Pay 4.20% While the Average Pays 0.38%. Move Your Cash Before the Fed Meets

Savings Accounts Pay 4.20% While the Average Pays 0.38%. Move Your Cash Before the Fed Meets

SuperMoney Team

Thumbnail for Blog Article: Inflation Rose to 3.7% in September. Gas Is Up 34%, and That's Where Your Budget Is Getting Hit

Inflation Rose to 3.7% in September. Gas Is Up 34%, and That's Where Your Budget Is Getting Hit

SuperMoney Team

Thumbnail for Blog Article: Your Bank Pays 0.37% While Inflation Runs 3.4%. After the Fed's Hike, Here's Where Your Cash Should Sit

Your Bank Pays 0.37% While Inflation Runs 3.4%. After the Fed's Hike, Here's Where Your Cash Should Sit

SuperMoney Team

Thumbnail for Blog Article: Current Savings Account Rates November 2024

Current Savings Account Rates November 2024

Benjamin Locke

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

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

SuperMoney Team

Thumbnail for Blog Article: What Role Can Alternative Investments Play in Retirement Savings?

What Role Can Alternative Investments Play in Retirement Savings?

Michelle Jones

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About 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. Savings accounts may have a minimum balance requirement, and they may limit the number of transactions that can be made each month. The interest rate on a savings account will vary depending on the specific account and the current market conditions. Savings accounts are a safe and convenient way to save money, and they can help you to reach your short-term and long-term financial goals. It is important to compare the terms and fees of different savings accounts before choosing one.