Savings account is the account which is open in the financial institution. In savings account the official bank giving lot of interest for your deposited money. But we cannot use the money directly like writing the cheque. Savings account having the benefit of increasing the money in our account because of the interest they are giving. Some of the private banks are giving lot of interest to the savings account customer. Some of the banks giving different kinds of offers in the bank account to attract the customers by providing best cd rates . The high interested paid banks are having lot of restrictions. After end of every month the bank will send the interest details to you. In your account you are having huge amount means you will get a good interest not having that much money means you will get only low coast of interest. When the account is opened the bank will give you the detail information about the accounts and the interest details. They will also tell about the deposits and withdrawals made after the last statement. In this account you can transfer the money from any account holder all around the world. This is the main feature of the savings account.