Savings Accounts

Savings Accounts are accounts opened with liquid funds that are placed on deposit with a retail financial institution — usually a bank or savings and loan corporation — without a given maturity date.

Difference between Savings Accounts and Checking Accounts

Although the terms of specific Savings Accounts can vary among financial institutions and countries, Savings Accounts tend to differ from checking accounts because they cannot usually be used as money by allowing the account holder to make a virtually unlimited number of withdrawals per statement cycle via check or debit card. For example, in the United States, only up to six withdrawals from a Savings Account can be made per statement cycle without incurring a penalty, although the number of deposits per cycle is generally not limited.

Which companies provide Savings Accounts?

Savings Accounts are provided by retail banks, savings and loan corporations and credit unions that are usually regulated within the country in which they operate. Savings Accounts are used by individuals and businesses around the world as a means of storing their liquid funds for future use.

How risky are Savings Accounts?

Substantial investment security is provided by Savings Accounts held with reputable and insured financial institutions, but as a result of this perceived lack of risk, they usually only offer a low nominal rate of return or interest to the holder on deposits. Higher returns on Savings Accounts can sometimes be obtained from online savings accounts, but the risks in doing so may be greater, especially if the financial institution taking the deposit is uninsured and/or poorly capitalized.

Who regulates and guarantees Savings Accounts?

In the United States, funds deposited in Savings Accounts are protected up to a certain amount by the Federal Deposit Insurance Corporation or FDIC when the deposit is made with a financial institution that is also an FDIC member.

Top Savings Accounts Rates around the world

Savings Account Type		Country	APY	Account Details
Santander Brazil Savings Account		brazil	6.17%	This account has a savings interest rate of 0.5% per month which works out to be (6.17% pa) + - BRL - Apr, 2012		More Info
MCB Savings Account		pakistan	5.00%	This interest rate is for the 'PLS - Savings Account' product  - PKR - Apr, 2012		More Info
Commercial Bank of Ethiopia Savings Account		ethiopia	5.00%	To open this savings account product requires a minimum Birr 25.00 .Interest is calculated on the - ETB - Apr, 2012		More Info
Capitec Bank Savings Account		south africa	4.75%	The 'Daily Savings Account' product has a Monthly administration fee on 4.50 and the savings rate - ZAR - Apr, 2012		More Info
HSBC Australia Savings Account		australia	4.75%	The following rates apply to the HSBC 'Serious Saver' Product and you will get the following inte - AUD - Apr, 2012		More Info
ANZ Savings Account		australia	4.25%	Rate is for the account type 'ANZ Online Saver Rate' - AUD - Apr, 2012		More Info
CBA Netbank Saver		australia	4.25%	- No bank fees but may be linked to your transaction account.- This for balances of $1 or mor - AUD - Apr, 2012		More Info
AIB Savings Account		ireland	4.00%	Rate is applicable for the 'Promotional Regular Saver Rate' type account and is for accounts open - EUR - Apr, 2012		More Info
Bank of India Savings Account		india	4.0%	- INR - Apr, 2012		More Info
MCB Savings Account		mauritius	3.65%	- The minimum deposit to open an account is Rs 1000 with a minimum balance of Rs 3000 to generate - MUR - Apr, 2012		More Info
ING Direct UK Savings Account		united kingdom	3.10%	The interest rate applies to new customers with the bonus fixed for 12 months from the opening of - GBP - Apr, 2012		More Info
HSBC Vietnam Savings Account		vietnam	3.04%	This product is a 'HSBC online savings account' denominated in the Vietnamese Dong currency and v - VND - Mar, 2012		More Info
NBNZ Savings Account		new zealand	3.00%	- Rate applies to the 'Online Account' type and you pay no monthly account fee or transaction fee - NZD - Apr, 2012		More Info
Societe Generale Algeria Savings Account		algeria	2.80%	This account applies to the 'Epargne Kenzi' savings account and  - DZD - May, 2012		More Info
Rabobank Savings Account		netherlands	2.50%	The savings account interest rates applicable for this account are for the 'Internet Sparen' or I - EUR - Apr, 2012		More Info
Maybank Savings Account		malaysia	2.30%	This interest rate applies to the 'm2u Savers' product and requires an initial deposit - MYR - Apr, 2012		More Info
Societe Generale Savings Account		france	2.25%	The product attracts an initial interest rate of 1.50%. It offers an additional loyalty bonus of - EUR - May, 2012		More Info
Stanbic IBTC Bank Savings Account		nigeria	2.125%	This rate is the savings average interest rate (which is also listed on the Nigeria Central Bank - NGN - Mar, 2012		More Info
ING Savings Account		netherlands	2.10%	The interest rate for this ING savings account applies to the 'Internetspaarrekening' or internet - EUR - Apr, 2012		More Info
HSBC France Savings Account		france	1.75%	This savings account or 'Compte sur livret' can be opened by any individual regardless of nationa - EUR - Apr, 2012		More Info
HSBC UAE Savings Account		united arab emirates	1.50%	This rate applies to the eSaver online savings product which requires no minimum balance and no a - AED - Apr, 2012		More Info
Riyad Bank Savings Account		saudi arabia	1.50%	The interest rates below are in the Saudi Riyal currency and are available to local Saudis as wel - SAR - Apr, 2012		More Info
Barclays Wealth Sterling Savings Account		united kingdom	1.35%	Applicable to the 'Barclays Wealth Bonus Saver' account with rates applying to accounts that are - GBP - Apr, 2012		More Info
Bank of Valletta Savings Account		malta	1.30%	- Rate is from the 'eAccount' with the minimum Balance in Euro - €1.00 - €12,000.00 - EUR - Apr, 2012		More Info
RBC High Interest eSavings		canada	1.20%	High interest on every dollar. You get free 24/7 online transfers from this accoun - CAD - Apr, 2012		More Info
Bank of Cyprus Savings Account		cyprus	1%	- This savings account is the 'traditional savings account' (tamieftirio) product for an Adult - EUR - Apr, 2012		More Info
First Bank of Nigeria Savings Account		nigeria	1.00%	The savings interest rate according to First Bank of Nigeria applies to 'savings' products which - NGN - Apr, 2012		More Info
HSBC USA Savings Account		united states	0.80%	This US HSBC 'online savings' product account requires a minimum of $1 to setup, FDIC insured and - USD - Apr, 2012		More Info
National Bank of Greece Savings Account		greece	0.75%	- Rates apply to balances between 50,000.01-150,000 Euro for the 'EUROPEAN SAVINGS' account - EUR - Apr, 2012		More Info
Bank of Ireland Savings Account		ireland	0.5%	- Rate provided from the 'EasySaver' account. - Balances up to €5,000 provides an EAR of 2.75 - EUR - Apr, 2012		More Info
HSBC Greece EUR Savings Account		greece	0.50%	This Greece HSBC savings account is for the ''Advanced Statement savings account' and is denomina - EUR - Apr, 2012		More Info
Bank of China Savings Account		china	0.5%	The interest rate for this savings account is from the 'BOC demand' deposit product. - RMB - Apr, 2012		More Info
HSBC Thailand Savings Account		thailand	0.40%	The Interest rates for this Savings account are in THB, Thai Baht and for 'General Customers - THB - Apr, 2012		More Info
Banco De Oro Savings Account		philippines	0.375%	The interest rate applies to the 'Peso Passbook Savings Account' product and requires a minimum d - PHP - Apr, 2012		More Info
HSBC UK Savings Account		united kingdom	0.25%	Product is the 'Online Bonus Saver' savings account with only £1 required to setup. - GBP - Apr, 2012		More Info
Citibank Indonesia Savings Account		indonesia	0.25%	The interest rate for the "regular savings account' is credited monthly and is in the curren - IDR - Apr, 2012		More Info
Bank of China USA CNY Savings Account		united states	0.15%	The minimum balance requirement for this CNY Savings Account is $100. - CNY - Apr, 2012		More Info
Nordea Finland Savings Account		finland	0.15%	This savings product is the 'InterestExtra Account' and the account is covered by the guarantee f - EUR - May, 2012		More Info
Wells Fargo Savings Account		united states	0.10%	Interest Rate is applicable to the 'High Yield Savings' Product and requires a Wells Fargo chec - USD - Apr, 2012		More Info
HSBC Korea Savings Account		south korea	0.10%	This HSBC Won savings account includes possibilities of opening other currencies with this accoun - KRW - Apr, 2012		More Info
HSBC Jersey Offshore Savings Account		channel islands	0.10%	This product from HSBC is called the &nb - GBP - Apr, 2012		More Info
OCBC Savings Accounts		singapore	0.080%	- Rate is for 'Passbook Savings' and savings from S$50001 to S$250000 - SGD - Apr, 2012		More Info
Bank of America Savings Account		united states	0.05%	Interest Rate is for the 'regular savings account' product. - USD - Apr, 2012		More Info
Citibank Savings Account		united states	0.05%	The current interest Rate was calculated for the Citi ' Day-to-Day Savings' product for the - USD - Apr, 2012		More Info
Chase Savings Account		united states	0.01%	The indicated rate displayed is 'Chase SavingsSM' product for the 10001 zip code or New York stat - USD - Apr, 2012		More Info
Citibank Checking Account		united states	0.01%	This checking account interest rate indicated applies to the 'Citibank Account'. This accoun - USD - Apr, 2012		More Info
HSBC Hong Kong Savings Account		Hong Kong	0.0010%	This HSBC HKD Savings account product has no monthly service fee if the balance is at more than H - HKD - Apr, 2012		More Info