Savings Made Simple

Learn about saving for your future. Explore relevant articles, get answers to frequently asked questions, and discover Citi’s savings products and tools.

Savings Accounts: Frequently Asked Questions

A savings account can help you save for everything from a new bike to a vacation to a new house.

If you have questions about savings accounts, check out the following frequently asked questions for more information, tips for success and guidance for online application forms.

In general, savings accounts allow you to earn interest on your money while most checking accounts do not. Checking accounts are designed to hold money for your everyday expenses, like utility bills and rent, while savings accounts are designed to store and grow money you’re not planning to use in the short term.

Because checking accounts are designed to hold money for everyday expenses, they can offer more flexibility in accessing your money. For example, you can typically make unlimited withdrawals from your checking account as long as you have the funds to cover the withdrawals while still meeting any balance requirements to avoid fees. Some savings accounts may limit the number of transfers or withdrawals you can make.

  1. Deposits are FDIC insured up to $250,000 per depositor, for each account ownership category. To learn more visit www.fdic.gov.

Disclosure: This article is for general educational purposes. It is not intended to provide financial advice. It also is not intended to describe or indicate the availability of any Citi product or service. You should refer to the terms and conditions financial institution provide for various products.

Additional Resources

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