Question

John has finally gotten to the point where he can put away some money and start a rainy day fund. He wants to have access to his savings and doesn't have enough to meet a large minimum deposit requirement. What would be his best option for a savings account?
Certificate of Deposit
Regular Basic Savings Account
High Yield Savings Account
Treasury Bill

Answer 1

Answer:

Regular basic saving accounts

Explanation:

Rainy day fund is called a type of basic regular saving accounts. This account contains around 500 dollars to 1000 dollar It is like a payday loan. It is a type of liquid or we can say that it is like cash.

It is best in a bank account. such as saving account to pay the daily basis debts. Here people can access their money very quickly. When it is spent, you can again start to save for the future happening again.