Different Types of Savings Account

Euro Savings Account

Euro savings account gives users a chance to make the most of the relative strength of this currency against their home versions. There is reduced administrative costs and exchange rate when you are dealing with Euros. For fixed rate, fixed term deposits there is an added protection from variable interest rate of the currency.

Health Savings Account Banks

Health savings account banks offer an individual chance to save amounts for future medical expenses. Once you reach the age of 65, however, it is possible to use this money as you see fit. Such accounts provide cover for an expansive range of healthcare issues, such as those related to purchase of contact lenses and even acupuncture treatment.

Medical Savings Accounts

Such accounts are a type of the Advantage Plan related to medical care combining health high-deductible plan with medical savings accounts. Users here have the flexibility to choose their health care providers than services. Those who enroll, can use this saving account amounts towards medical expenses. Once the deductible is reached, they get coverage via high deductible plans.v hi

Orange Savings Account

This savings account pays variable rates of interest with minimum 2% yearly yield, paid monthly and compounded daily. The prerequisite for this is the availability of a checking account in any bank. Your existing checking account acts as the money-funneling source in such arrangements.

Business Savings Account

Those wishing to keep aside extra funds from their business for the rainy day can opt for a business savings account. Small business owners, NGO, government, and public agency managers can earn interest via this method and gain satisfaction in the process. The main benefits of such accounts include competitive rates of interest, ready access to funds, higher balances signify higher amounts, and cash withdrawal whenever needed. you can also reconcile transactions using detailed statements.

Savings Accounts For Children

It is never too early to help your children start saving money and savings accounts for kids is the perfect way to get them on the road to grow money wise. They can choose from two options, including

• Statement account
• Passbook account

Statement account as the name indicates offer monthly statements on the status of an account and with a passbook account, your child needs to post every deposit in the booklet provided.

Student Savings Account

For any student savings account is the best way to keep aside money for a rainy day. Your money can substantially increase the interest rates paid by the bank. However, there are federal regulations in place that require the presence of a minimum amount in the account with limit to the number of monthly transactions possible.