A savings account is an account maintained by a bank for other depository (1) from which withdrawals can be made, (2) interest accrues on the account balance, (3) does not have any maturity date, and (4) usually does not require a minimum balance.
A savings account is an account maintained by a bank for other depository (1) from which withdrawals can be made, (2) interest accrues on the account balance, (3) does not have any maturity date, and (4) usually does not require a minimum balance.