BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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keeping
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spending
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counting
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loaning out
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Detailed explanation-1: -Savings accounts can be safe places to keep the money you don’t intend to spend right away. These accounts are useful when planning for short-term needs, such as an emergency fund, and longer-term goals like stashing away cash for a down payment on a home.
Detailed explanation-2: -A savings account is a good place to keep money for a later date, separate from everyday spending cash, because of their safety, liquidity and interest-earning potential. These accounts are a great place for your emergency fund or savings for shorter-term goals, like a vacation or home repair.
Detailed explanation-3: -Savings accounts allow you to deposit money for safekeeping and earn interest on your balance. You can open these accounts at a bank or credit union.