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Savings accounts are one of the most common types of bank accounts -- and potentially one of the most valuable. Why? Because they let you earn interest on your savings just for leaving your money in the account. But choosing the best one for you isn't always easy because there are so many options out there. This guide will walk you through the types of accounts and how to choose a savings account that's right for you.
Here are some common account types to consider when looking for a place for your savings:
When choosing the right option for you, keep the following things in mind:
If you're looking for more in-depth information on savings accounts, here are a few we've reviewed:
Savings accounts are a useful way to grow your wealth while keeping your funds easily accessible. They're protected by the FDIC. Savings accounts are offered by the safest banks in the U.S. They're also helpful for growing an emergency fund so you're prepared for unexpected expenses. If you're not sure how to choose a savings account, use the above information to help narrow down your options. You can also check out The Ascent's picks for the best savings accounts if you'd like to save yourself some time.
Here are some of the other questions we've answered:
Our Banking Expert
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