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What Is a Savings Account?

Have you ever wondered what a savings account is? Here is an in-depth guide on how they work.

what is a savings account
  • A savings account is a bank account that lets you store your money and earn interest on it.
  • There are different types of savings accounts, such as traditional and high-yield.
  • Savings accounts keep your money safe but also offer lower returns than investing in the stock market.