“Savings account” is an account that is used to spend on a daily basis. Or spend monthly each month Which is now able to do online banking transactions, easy to use, suitable for all ages Savings accounts are suitable for short-term savings. Or saving money for emergency use.
Most of the accounts of this type require a very low minimum deposit. Some banks may not even set a minimum. Many people view that depositing in a savings account is lower than any other type of investment.