What Is a Savings Account?

A savings account is a basic type of bank account that allows you to deposit money, keep it safe, and withdraw funds, all while earning interest.

Savings accounts offered by most banks, credit unions, and other financial institutions are FDIC insured and typically pay interest on your deposits.1 2 Some savings accounts offer higher interest rates than others.

If you are looking to grow your money more quickly while still keeping your money safe, stay up to date with the best savings accounts and interest rates.

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