Which Savings Account Will Earn You the Least Money? | Zi-Tng
Discover Which Savings Account Will Earn You the Least Money When it comes to choosing a savings account, most people focus on interest rates, fees, and convenience. But have you ever wondered which type of savings account will actually earn you the least money? Let’s dive into the details and explore your options. The Basics: Types of Savings Accounts Before we discuss which account earns the least, let’s review the common types of savings accounts: Traditional Savings Account : This is the standard savings account offered by brick-and-mortar banks. It usually provides minimal interest, but it’s a safe place to park your money. Online Savings Account : Online-only banks offer higher interest rates compared to traditional banks. They operate without physical branches, which allows them to pass on the savings to their customers. Money Market Account (MMA) : MMAs combine features of savings and checking accounts. They typically offer slightly higher interest rates but require a higher