Typically, you will find that savings account interest rates will be much higher than their
transactional account counterparts. There are two types of savings account that will help your money to grow over time.
The first is a regular
savings account. These are similar to an every-day account, but with a limit on your withdrawls. This limit allows you to gain a much higher interest rate than with a transactional account.
The second type of savings account is a
term deposit account. This type of account allows you to lock away your money for a set amount of time and let it grow. You cannot touch this money until it matures, but this also means that the money that you put in can grow at very high rates of interest.
To compare both types of savings account and to find the current savings account interest rates simply use Which4U and you could be well on your way to helping your money to grow within a couple of minutes.
Savings Accounts
