What is MADB Savings Account?

A saving account is an account at a bank or credit union that is designed to hold your money. Savings accounts typically pay a modest interest rate, but they are considered safe for parking cash that you want available for short-term needs. Some savings accounts pay a higher yield than other savings accounts. They may have some limitations on how often you can withdraw funds. Generally, savings accounts offer flexibility that can be ideal for building an emergency fund, saving for a short-term goal like buying a car or going on vacation, or simply earning a little interest on your savings.