Individuals often use savings accounts for a home down payment, a vacation, a wedding, a car, an emergency fund, or other near-term expenditures. Savings accounts are a good place to keep money for unforeseen expenses, as well as money that you may be preparing to use and want to keep safe. Savings accounts offer depositors flexibility along with the stability of FDIC insurance (assuming your deposit amounts are within FDIC limits – see below).
