As emergencies can arise without any prior intimation, one should be able to access the funds as and when required. That is why the Emergency Savings instrument shouldn’t have a (large) maturity period or a penalty on pre-mature withdrawal. Additionally, the initial investment or principal amount should remain intact and should offer fixed positive returns. It should not vary depending on any change in interest rates or market fluctuations. Thus keeping these points in mind, a Savings Bank Account is the safest and most easily accessible instrument to keep your funds.