Your money needs to be safe. It is up to you to choose where you want to deposit your money. There are banks, savings and loan associations and credit unions. They offer a variety of services.
Savings accounts A savings account is an account that earns interest.
Interest is what the bank pays you for keeping your money in your account. You can open a savings account with a few dollars. Interest you are paid. How much you can take out at one time. How often you can take money out of your account.