3. You can't simply pull out a card and access cash from a savings account via an ATM. You may be offered a passbook or access to money via a cash machine, but you will not be able to have a credit card connected to a savings account.
4. Regular savings account carry a variable interest rate, the rate can (and will) change according to the stance of your bank. Therefore, it is vital that you keep an eye on the interest rate of your account.
6. A longer term will usually receive a higher interest rate, except in the case of an inverted yield curve If you want to save up money for A purchase in the future, then A savings account can help you.
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8. Checking accounts are some of the simplest – and least lucrative – financial products out there. They’re the best vehicle for actually using and spending your money, but as an investment tool, checking accounts usually offer low interest rates compared to savings accounts, CDs, and other places where you can grow your cash.
9. You should only use your checking account for money that you need to easily access for monthly bills and everyday purchases. Keep additional funds in another account with a better interest rate, such as a CD or high-yield savings account.
11. Use your checking account to hold only the money that you use for paying bills and making day-to-day transactions. Put the rest of your money in a savings account or CD, which grows your money at a higher rate.
12. Online banks and credit unions often offer competitive interest rates on checking accounts.
18. Fixed rate mortgage the interest rate and hence the periodic payment remains fixed for the term of the loan.
19. Adjustable- rate mortgageinterest rate is generally fixed for a period of time, after which it will periodically adjust up or down to some market index.
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22. It has a specific and fixed term and has fixed interest rate.
23. It is intended that the CD be held until maturity, at which time the money may be withdrawn together with the accrued interest.A larger principal should receive a higher interest rate, but may not. A longer term will usually receive a higher interest rate, except in the case of an inverted yield curve (i.e. preceding a recession) Smaller institutions tend to offer higher interest rates than larger ones. Personal CD accounts generally receive higher interest rates than business CD accounts.
![Savings Account ,[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)