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Types of Bank Accounts

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Checking Account

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A deposit account for everyday transactions, typically offering a low or no interest rate.

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Savings Account

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A deposit account that earns interest over time, intended for storing money for future use.

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Certificate of Deposit (CD)

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A time-bound deposit that holds a fixed amount of money for a set period, with a higher interest rate than savings accounts.

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Money Market Account

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A type of savings account that typically requires a higher minimum balance but offers a higher interest rate.

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Individual Retirement Account (IRA)

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A retirement savings account with tax advantages, subject to certain conditions and limitations.

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Joint Account

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A bank account shared by two or more individuals, usually offering equal access to funds to all account holders.

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Business Account

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A special type of account for managing a business's finances, often coming with additional services and fees.

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Student Account

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A checking or savings account with features and fees tailored to meet the needs of students.

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High-Yield Account

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A savings or checking account that offers a significantly higher interest rate than standard accounts.

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Trust Account

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A type of account managed by one party for the benefit of another, governed by trust agreements.

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