Types of Savings Accounts

Can access money when certificate matures.

• Traditions Savings at Local Bank

• Money Market

• Certificate

  od Deposit

• Online Bank -Savings Account

Juan saved $1,000 from his summer job cleaning pools. Which of these savings vehicles would work best for him if he doesn't need access to the money for a number of years AND wanted to earn the highest interest rate?

• Regular savings account

• Money Market account

• Checking account

• Certificate of Deposit

Which of the following will give you a higher interest rate.

• Traditional Savings Account

• Money Market

Can access money at anytime as long as you stay above minimum balance

• Certificate of Deposit

• Money Market

Low to no fees, but limited withdrawals per month

• Traditional Savings Account

• Certificate of Deposit

High interest rate and a high minimum deposit

• Traditional Savings Account

• Money Market

High interest rate, but money must stay in the account for a certain amount of time

• Online Bank - Savings Account

• Money Market

• Traditional Savings Account

• Certificate of Deposit

Higher interest rate due to lower expenses

• Traditional Savings Account

• Certificate of Deposit

• Online Bank Savings Account

• Money Market

No or low minimum balance required

• Certificate of Deposit

• Money Market

• Online Bank - Savings Account

You can take money out of your savings account at a local bank each month as often as you would like without any fee?

• True

• False