Question about Finance

2 Answers

What are the different types of savings accounts?

Posted by Guy Bells on


2 Answers

Talent Magnifer

  • Level 2:

    An expert who has achieved level 2 by getting 100 points


    An expert that got 5 achievements.


    Visited the website for 3 consecutive days.

    New Friend:

    An expert that has 1 follower.

  • Expert
  • 36 Answers

With the exception of online banks, savings accounts can be expensive if you don't keep a large balance in your account. Banks charge monthly fees, and they pay little or no interest on small accounts. For students (who spend most of their time studying - not working), that's a problem. Some banks offer "student" savings accounts which help students to avoid fees until they get a job and can qualify for monthly fee waivers.
To Know more about related to dis topic you can visit us -

Join Income Tax Direct Indirect Taxation and Accounts Finance...

Posted on Feb 22, 2018


Brian Luiss

  • Level 1:

    An expert who has achieved level 1.

    New Friend:

    An expert that has 1 follower.


    An expert that has over 10 points.


    An expert whose answer got voted for 2 times.

  • Contributor
  • 5 Answers

Taken from
Banks usually offer two types of savings accounts: a basic savings account, and a money market account.
· The basic savings account (sometimes called a passbook savings account) will usually have either no minimum balance requirement or a low one, but will offer a very low interest rate (meaning your money won't earn that much). In April 2004, the average interest rate at banks for basic savings accounts was less than one percent. A typical basic savings account lets you withdraw your money whenever you want.
· Money Market accounts usually pay more money in interest, but will typically require you to have more money in the account. You also may be limited to how many withdrawals you can make in a month. Sometimes, in addition to the withdrawals, you can also write up to the three checks on a money market account each month.

Posted on Aug 14, 2013


Add Your Answer

Uploading: 0%


Complete. Click "Add" to insert your video. Add



Related Questions:

1 Answer

What is a Money Market Account at the bank?

A money market account is a type of savings account offered by banks and credit unions just like regular savings accounts. The difference is that they usually pay higher interest, have higher minimum balance requirements (sometimes $1000-$2500), and only allow three to six withdrawals per month.

Sep 01, 2014 | Computers & Internet


What is a Personal Savings Account?

For the average person, a personal savings account is the most common type of account other than a checking account for day to day banking activity.

Savings account are different as they provide you with a safe place to keep your money and earn some extra interest on it. Each bank has it's own rules as to whether you need to put a minimum amount in the account and how much interest they pay.

Savings accounts are a great idea for people who have extra cash that they kept around the house. Spare money is much safer in a bank account which is an insured environment, than stuffed under a mattress.

Studies have also shown that people who put money aside in a savings account are much less likely to spend it than those who don't.

Savings accounts are not hard to open. You just find out from your bank what the minimum desposit is and ask how and when you can withdraw money.

Higher interest accounts tend to have more restrictions ie you can only withdraw once a month without incurring a fine of some kind but these are details that you can work out with your bank.

on Sep 10, 2013 | Finance

1 Answer

What is a Money Market Account?

A money market account is a type of savings account offered by banks and credit unions just like regular savings accounts. The difference is that they usually pay higher interest, have higher minimum balance requirements (sometimes $1000-$2500), and only allow three to six withdrawals per month..

Sep 01, 2014 | Computers & Internet

1 Answer

Which is the best type of account to save money for a rainy day?

Check out this really informative video. It describes the difference between savings accounts and money market accounts. This should give you some helpful insight.

Aug 19, 2013 | Finance

1 Answer

Is there any difference between a regular savings account at a bank and an online savings account?

According to Wikipedia: "Some financial institutions offer online-only savings accounts. These usually pay higher interest rates and sometimes carry higher security restrictions. Online access has opened the accessibility ofoffshore financial centresto the wider public."

Aug 14, 2013 | Finance

2 Answers

What is a savings account?

A savings account is an account where you set aside money and earn a small amount of interest on the money every month. These types of accounts often need a minimum balance.

Aug 14, 2013 | Finance

2 Answers

I can't log in to my account.

Before windows loading pres f8 and select knowing good configuration

Jun 19, 2012 | Facebook Social Network

1 Answer

Password by default follows the id

Which browser are you using?
If you want a bit privacy, you could use mozilla firefox 3.5 or 3.6. It has an option for saving username and passwords. Plus, you could also enable the master password. Since you would be the only one knowing the master password, only you would have access to the saved passwords for different websites such as yahoo mail, twitter etc

Jul 08, 2010 | Yahoo Mail

1 Answer

I cannot sign in to yahoo messenger,it says,sign in problem,re-enter id and password and try again, pls help ,i just formated my pc but still not work my yahoo messenger.i use dial up connection

check the caps lock is on/off. turn it off to type the correct password.
reset the browser IE by typing inetcpl.cpl in run window and hit enter// click on advanced tab/ click on reset// wait till all parameters are green and then try//
try with different user account by creating the new one from control pannel user account icon/ and then creating the new user account// restart the computer and login with new account and if it works then be sure the old account has corruption. remove the old account after logging from the new account and save the folders of old account on the new account desktop so that u can reffer the old files and documents //

May 06, 2010 | Computers & Internet

Not finding what you are looking for?
Finance Logo

Related Topics:

1,210 people viewed this question

Ask a Question

Usually answered in minutes!

Top Finance Experts


Level 1 Expert

40 Answers

Arwind Sharma
Arwind Sharma

Level 2 Expert

43 Answers

Jack Levin
Jack Levin

Level 2 Expert

113 Answers

Are you a Finance Expert? Answer questions, earn points and help others

Answer questions

Manuals & User Guides