Investment accounts are a type of account held with a financial institution for the purpose of building on or increasing your investment. Some types of investment accounts include term deposits, debentures and online savings accounts.
The advantage of an online savings account over some other types of investment accounts is that your money is accessible whenever you need it, allowing you to transfer money either to or from your everyday transaction account as required.
An online savings account can earn a higher rate of interest when compared to everyday transaction accounts so you can reach your savings goals sooner. The table to the right shows some everyday online savings accounts currently available.