What are the Different Types of Saving Accounts? |
Posted: November 18, 2022 |
Various banks and financial institutions offer different kinds of savings accounts. Below are the variants of the best digital savings account offered by banks and financial institutions- Regular Savings AccountThis savings account type is the most common one. With a regular savings account, you need to maintain a minimum balance, which varies from bank to bank. Moreover, this kind of account is beneficial for day-to-day transactions. Zero Balance AccountAs its name suggests, the zero-balance account is a type of savings account where the user isn’t required to maintain a minimum balance. A debit/ATM card is issued for this type of account for regular transactions. Moreover, this account type offers other benefits of a regular savings account. Women’s Savings AccountThis savings account is for women and comes with customised benefits according to their needs. A minimum balance is required for this account. Moreover, savings account for women offer special benefits for shopping and transactions at different terminals. Family Savings AccountThe whole family enjoys benefits from a single savings account. This kind of account is beneficial for managing family expenses and needs. Senior Citizen’s Savings AccountThe senior citizen’s savings account is solely designed for senior citizens and comes with investment and health insurance policies. Moreover, senior citizen account holders get a high-interest rate on fixed deposits. Many different types of saving accounts are available, each with its own benefits and drawbacks. Ultimately, the best account for you will depend on your specific needs and goals.
|
|||||||||||||||||||||||||||||||||||||||||||
|