EXPLANATION: Money in savings account can grow in mainly by interests. Banks and financial institutions provide interests for the money we keep. These interest rates differ according to the different plans and tenures of how many days or months the money is been kept in the account.
Money in savings accounts can grow many ways. The largest way used is interest. Compound or simple interest can cause saved up money to grow. What is interest? You may be asking, well interest is the money your saving account makes just by being there.
