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Savings and Investment - Savings Account

 

Savings Account - Savings and Investment


About Savings Accounts

A savings account is usually set up through a bank. A savings account allows you to put money aside and earn interest, at present between 2-3% because you are in fact lending money to the bank.

You can also withdraw or deposit money into the account as you want to. You can sign up for a checking account, which allows you to write checks from your bank account. The portion of the money in the checking account does not earn interest or if it does, you have to pay a monthly fee.

You can open up a savings account at any bank. Banks now have ATM cards which allow you to withdraw and deposit money at a machine outside or inside the bank, rather than with a person called a Teller.

 

List of Savings Account Providers

 

OCIS provide general financial information, we urge you to consult an Independent Financial Adviser ( IFA )
before making any important decisions about your finances.

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