. What is a Current Account Savings Account (CASA)? A Current Account Savings Account (CASA) is a type of savings account that allows account holders to earn interest on their deposited funds. What is current account and savings account? A current account is a type of bank account that allows customers to deposit and withdraw … Read more
A passbook loan is a type of savings account that allows you to borrow money against the balance in your account. The interest rate on a passbook loan is usually lower than the interest rate on a credit card or personal loan. To take out a passbook loan, you will need to have a passbook … Read more
The Annual Equivalent Rate (AER) is the rate that shows what the interest rate would be if interest were paid and compounded once each year. This is a standard way of showing the interest rate so that you can compare products easily. The AER is always lower than the interest rate. What effective rate is … Read more
. Types of Sweep Accounts and How They Work Can you withdraw from a sweep account? A sweep account is a type of account that automatically transfers funds from a primary account to a secondary account when the primary account reaches a certain balance. The funds are typically transferred to an account with a higher … Read more
Savings Accounts: How They Work. What are the 4 types of money? 1. Traditional Savings Accounts – These are the most common type of savings account and usually offer relatively low interest rates. However, they may offer some additional benefits such as a sign-up bonus or ATM access. 2. High-Yield Savings Accounts – These accounts … Read more
