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Can I earn rewards with a savings account?

Curious about Savings accounts

Can I earn rewards with a savings account?

In general, savings accounts are not designed to offer rewards like cash back or points, as their primary purpose is to provide a safe place to save and earn interest on deposited funds. Unlike credit cards or certain checking accounts, savings accounts typically do not have reward programs associated with them.

However, some banks may offer promotional incentives or bonus interest rates for opening a new savings account or meeting certain criteria, such as maintaining a minimum balance or making regular deposits. These incentives can be seen as a form of reward, as they provide additional benefits or higher returns on your savings.

Additionally, some financial institutions may have linked rewards programs that encompass multiple accounts, where you can earn rewards by meeting specific requirements across your banking relationship, including savings accounts, checking accounts, and other products offered by the bank.

It's important to review the terms and conditions of a savings account and any associated rewards programs or promotions offered by the bank. This will help you understand if there are any potential rewards or benefits available to you for using the savings account, as well as any requirements or limitations that may apply.

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