What is a bank savings account?

A bank (or credit union) savings account is one of the most basic financial products available. Bank accounts provide a safe place to deposit your money and earn interest at a modest rate. In the U.S., bank and credit union savings accounts are federally insured for up to $250,000 per account.

What is the difference between interest rate and APY (Annual Percentage Yield)?

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What are dividends, and how are they different from interest?

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