Savings account: profitability and availability of your money

We tell you what a savings account is and what its advantages are
A savings account is a type of deposit that generates a return in the form of interest, and always depending on the period over which it is held in the bank. It is an excellent way of getting a return on your savings, as they grow simply by having them deposited in the bank, without having to invest them; let's say that the bank gives you a return for holding your money. This is why a savings account is such a popular product; almost all of us have one or several of them.
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Moreover, when you cancel this account, the funds are available immediately. In other words, the money can be withdrawn at any time, at any BBVA bank branch or at any BBVA ATM. To do so, the account holder should present a supporting document, called a debit note.
On the other hand, a savings account is usually subject to fees for service and maintenance, although actually it is something that the banks tend to waive, most notably in the case of online banking. They also offer associated services, which the account holder can enjoy: deposits, payments of checks and transfers, associated credit or debit cards, etc.
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Income generated by a savings account is associated with the duration of the deposit, but it can also be of different types: depending on the frequency of the collection of interest, it can be monthly, quarterly or annually. Likewise, it can vary depending on whether it is received uniformly (always the same percentage), or by account balance bracket (progressively).
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