Saving money is a cornerstone of financial health, but if you’re stashing away your hard-earned cash in an old-fashioned piggy bank, you’re missing out on the features and benefits of an interest savings account.

An interest savings account is a type of bank account that pays interest on the money you keep in it. In addition to helping your savings grow faster, interest savings accounts come with several other advantages.

Perhaps the most obvious benefit is that interest savings accounts are both convenient and secure. Unlike cash or gold, your money is safe from robbers and other criminals in an interest savings account. Your funds also won't be affected by inflation or any other factors, so you can rest assured that the value of your savings will remain intact. Furthermore, you can access your funds at any time, and send funds to descendants easily, making interest savings accounts the obvious choice for long-term savings.

Interest savings accounts are also a great way to save for retirement. As your savings build, so too will the interest you receive. This means your retirement savings will be growing faster than with a regular savings account, and over time, that can lead to a much more comfortable retirement.

Many interest savings accounts also come with additional features that can help you manage your money more effectively. For instance, you can often set up automatic transfers that will move funds from your checking or savings account to your interest savings account on a regular schedule. This can make it easier to save money for a long-term goal, such as saving for a house or your retirement.

While interest savings accounts can be a great tool to help you build your wealth, make sure you read the terms and conditions before opening an account. It’s important to know what fees and penalties may be associated with your account and any other restrictions that may apply.

Overall, interest savings accounts provide a number of important benefits for savers, from convenience and security to retirement savings and more. With an interest savings account, you can start earning money on your savings right away, and watch your wealth continue to grow over time.