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The main way to get money is to get paid work. However, appropriately invested money can also multiply itself. Actually, not alone, but with the help of bankers who invest them wisely. In this case, it is mainly about banking products, such as bank deposits and savings accounts.

By depositing funds into such accounts or a deposit, after some time, they are obtained from the interest paid by the bank. By giving money for the deposit, we enable the bank to invest them, and thus the opportunity to bring profits to both him and us. For example, the bank grants loans from these funds.

What is the difference between bank deposits and savings accounts?

What is the difference between bank deposits and savings accounts?

First of all, flexibility of payment. It is true that the possibility of withdrawing funds always exists in both cases, but in the case of a deposit such a withdrawal before the deadline is associated with the loss of what has already been worked out – the deposit remains.

Their interest rates also vary, especially for those deposits established for longer periods is simply higher. Therefore, these two banking products are designed for people with different preferences and needs. Savings accounts are primarily intended for those who want to have money always at hand to choose, and deposits for those who focus more on far-reaching savings and greater profit.

When deciding on a deposit


You should find out whether it has a fixed or variable interest rate. Each of them has its pros and cons. Fixed interest primarily protects against lower profits in the event of a reduction in interest rates by the Monetary Policy Council of the NBP, while on the other variable interest rate does not block the possibility of higher profit, when the choice of the type of interest increases along with raising these rates will therefore also depend on certain predictions.

In addition, it should also be noted how often interest capitalization occurs. This applies to both a savings account and a bank deposit.

The more frequent it is, the greater the profit can be


Because each interest earned in a given period will be included in the basis from which the interest rate for the next period is calculated, etc.

The choice of whether a bank deposit will be better or a savings account may not be the easiest, but certainly, if it is a good choice, it will generate profits in the future. Sometimes it is also worth consulting an expert in finance in matters of buoyancy in a bank deposit or savings account, or use the professional information available on websites on finance, for example. Then it’s easier to find one in the rich offer and make the best choice.

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