This guide will provide you with the information you need to start a savings account. We will discuss the different types of savings accounts available, the benefits of having a savings account, and the steps you need to take to open one. We will also discuss the importance of setting financial goals and how
A savings account is a bank account at a retail bank. Common features include a limited number of withdrawals, a lack of cheque and linked debit card facilities, limited transfer options and the inability to be overdrawn. Traditionally, transactions on savings accounts were widely recorded in a passbook, and were sometimes called passbook savings accounts, and bank statements were not provided; however, currently such transactions are commonly recorded electronically and accessible online.