What is savings account - Definition and Meaning

Savings Account :

Savings account is a deposit account held in a bank or any financial institutions that aids an individual to secure their liquid assets along with the modest interest rate. Based on the type of saving account, the account holder may not be provided option to write checks or holders may be provided with the limited number of free transfers/transactions. Saving account generally holds money that are not intended to be used for daily purposes. One can also use electronic debit cards to access their funds.

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Learn what is savings account. Also find the definition and meaning for various math words from this math dictionary.

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