Make your savings work harder
An online savings account is an effective way to make your savings work harder for you. Typically, online savings accounts offer higher interest rates than those available in bank branches. Plus, you've got the ability to manage your account 24/7. It's quick to set up and you can bank online whenever it's convenient. Also consider different types of accounts for different goals.
You could have an "instant access" account for shorter-term goals and day-to-day spending needs. This might pay a lower rate of interest than an account you set up for your longer term goals. In exchange for paying higher interest, longer term accounts can have certain restrictions on how quickly you can withdraw your money.
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