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Why is it important to choose checking and savings account that suits you best?
A checking account is that account which is for day to day spending. This is the account where the money is kept in order to meet the day to day spending of life. These types of accounts earn fewer interest rates as compared to the savings account and generally have zero maintenance charges (varies with the bank to bank). Cheques and Debit Card are the widely used measure to maintain and manage the checking account activity.
A Savings Account is an account that is open to save money for the future. This is the account where the idea to keep money in order to grow the money in the future as this account earns a high-interest rate with limited withdrawal.
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