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What are the 3 types of savings accounts?
Rounding it up
There are multiple types of savings accounts in Canada, the most common of which are the Tax-Free Savings Account (TFSA), High Interest Savings Account (HISA), and Joint Savings Account.
There are definite advantages to any of these savings accounts. They’re easy to open, plus your deposited money is safe and accessible.
A HISA can be a great investment vehicle thanks to the interest it accrues.
If you’re a couple looking to save for a house, car, child, or other big financial decisions, consider a joint savings account.
Yekaterina Galanova
Yekaterina Galanova enjoys writing about personal finance, as well as aesthetic topics, though she is open to discovering new niches. She enjoys reading, traveling and beautiful landscapes.
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