Business and Personal Finance Dictionary

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• SAVINGS ACCOUNTS
  
  Liquid account that generally offers low or no minimum balance requirements, often carries a monthly service charge and generally pays a low rate of interest. The account usually has no restrictions on the number of transactions. It's wisest to open accounts at FDIC-insured institutions. Savings accounts may be opened at banks -- on and off the Web, credit unions and other financial institutions. Account holders will receive monthly or quarterly account statements showing activity during the statement period.
  
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