High interest savings accounts are bank accounts that have the potential to pay a higher rate of interest as a reward for keeping money in your savings account. High interest savings accounts are different to transaction or everyday accounts that would usually pay low or no interest and are typically used for day-to-day bank transactions. Term deposits usually have a fixed rate of interest and a known rate of return for an agreed duration of time. The term (the length of time your money is locked away) can vary. You often need to provide notice if withdrawing funds from a term deposit before the end of term. High interest savings accounts usually have a variable rate, that is, the interest rate has the potential to change month to month.

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interest savings accounts?

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