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Chapter 37. Banking > Savings Accounts

Savings Accounts

If your employer's business has excess cash available, a variety of accounts can help save those funds for the future: a regular savings account, certificates of deposit (CDs), jumbo CDs, individual retirement accounts, savings bonds, automatic savings plans, and other retirement accounts.

A savings account is an ideal place to deposit cash or checks, providing a safe way to save for any purpose. In addition, excess funds earn interest while in the account. Unlimited withdrawals are permitted, but no checks may be written against the account. Interest rates may vary from one period to the next; the compounding of interest also varies among financial institutions.


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