17. Savings Account

The Savings Account is one of the most well-known and used types of bank accounts. This modality is characterized as a demand deposit account, where the money deposited earns interest. For many people, the Savings Account is the first experience with the banking system, being a simple and safe option to save money and start learning about finances.

The Savings Account is an excellent option for anyone who wants to start saving money, as it offers a number of advantages. First, it is free of maintenance fees, making it a cost-effective choice. Furthermore, the money deposited in the Savings Account earns interest, which means that the amount deposited will increase over time, even if the account holder does not make any further deposits.

The interest on the Savings Account is calculated based on the Referential Rate (TR), which is defined by the Central Bank. In addition, the remuneration is 0.5% per month, provided that the savings anniversary date is respected. The anniversary date is the day of the month the deposit was made. If the money is withdrawn before that date, there will be no income for the period.

Another advantage of the Savings Account is the daily liquidity. This means that the deposited money can be withdrawn at any time, without having to wait for a specific deadline. This makes it an interesting option for those who want to have a reserve money for emergencies.

In addition, the Savings Account is guaranteed by the Credit Guarantee Fund (FGC). This means that, if the bank where the account was opened goes bankrupt, the account holder will receive back the amount deposited, up to the limit of BRL 250,000.

To open a Savings Account, you must go to a bank branch with your personal documents (RG, CPF and proof of residence). Some institutions also allow you to open an account online. After opening the account, the holder will receive a card that can be used to make withdrawals and deposits. In addition, most banks offer the option of managing the account via the internet or mobile applications, which facilitates financial control.

Despite all the advantages, the Savings Account also has some disadvantages. The main one is the low profitability, especially when compared to other investment options. In addition, the Savings Account does not have the same flexibility as a Checking Account, as it does not allow carrying out some operations, such as payment of bank slips.

In summary, the Savings Account is a safe and simple option for anyone who wants to start saving money. Despite the low profitability, it is free of fees and has daily liquidity, which makes it an interesting option for those who are starting to become familiar with the banking system. In addition, it is an excellent option for those who want to have a reserve money for emergencies.

For concurseiros, understanding the Savings Account is crucial, as this is a recurring theme in public tenders, especially those focused on the banking area. Therefore, it is important to study and understand well how this type of account works to ensure a good performance in the tests.

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