Question

Write about the Savings and their types in detail.​

Answer 1

Answer:

Saving is income not spent, or deferred consumption. Methods of saving include putting money aside in, for example, a deposit account, a pension account, an investment fund, or as cash.[1] Saving also involves reducing expenditures, such as recurring costs. In terms of personal finance, saving generally specifies low-risk preservation of money, as in a deposit account, versus investment, wherein risk is a lot higher; in economics more broadly, it refers to any income not used for immediate consumption. Saving does not automatically include interest.

Answer 2

Answer:

Types Of Savings Accounts

1. Traditional or Regular Savings Account. ...
2. High-Yield Savings Account. ...
3. Money Market Accounts. ...
4. Certificate of Deposit Account. ...
5. Cash Management Account. ...
6. Specialty Savings Account.