Bank Savings Accounts
Saving accounts (UK: savings accounts) are accounts maintained by retail financial institutions that pay interestbut cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing acheque). These accounts let customers set aside a portion of their liquid assets while earning a monetary return. For the bank, money in a savings account may not be callable immediately and, in some jurisdictions, does not incur a reserve requirement. Cash in the bank’s vaults may thus be used, for example, to fund interest-payingloans.
The other major types of deposit account are the transactional account (usually known as a “checking” (US) or “current” (UK) account), money market account and time deposit.
Solon
Solon (soh-lin) is a city in Cuyahoga County, Ohio, United States, and is a suburb of Cleveland. It is part of Northeast Ohio‘s combined Cleveland-Akron-Canton metropolitan area, the 15th-largest Combined Statistical Area in the country. According to the United States Census Bureau, in 2012, the city population was estimated at 23,160.[6]
The city has been recognized by Money in its list of “Best Places to Live” multiple times, placing 23rd in 2009,[7] 3rd in 2011,[8]and 10th in 2015.[9][10] The city has been rated as one of the safest in Ohio,[11][12] has a highly rated public school system,[13]and was ranked as one of the “best places to raise kids” by Bloomberg Businessweek.[14]
Solon has a strong economy and in 2013 and 2014 was granted a Google eCity award, recognizing it as the city with the strongest online business community in Ohio.[15]