Savings Account bears a combination of current account benefits (availability of funds) and term deposit (higher appreciation). You can withdraw your finances from your savings account at any time without restrictions, just as you do with your current account. The bank charges fees for violations that it has set itself.
The valuation is often at the level of term deposits
The valuation is often at the level of term deposits, where it is tied to the savings account. That is why a savings account will pay off more than low-interest time deposits.
Quality savings accounts have the following benefits:
- free of charge
- without commitment,
- selections at any time
- no minimum deposit
- without the need for regular deposits
- Internet access.
On the contrary, the disadvantage is that you can not deposit cash on online bank savings accounts. You must first deposit it into your current account and transfer it to your savings account from there.
Binding and savings account fees
There are no ties on savings accounts and are free of minimum balance. These are the main benefits of all savings accounts. Although some restrictions are sometimes found, it is very easy to bypass competition with such accounts.
Good savings accounts are completely free of charge. You can make transfers in unlimited amounts and do not really pay anything. However, they also have their toll siblings.
The bank charges fees for violations that it has set itself
Most often, the bank charges fees for violations that it has set itself. Eg exceeding the maximum number of transfers per month or card withdrawals. Use these accounts carefully, or rather choose save accounts completely free of charge.
Either you choose the right product to save yourself and rely on your experience or you can reach your financial intermediary to help you choose the right product.