A savings account is a basic type of bank account that allows individuals to deposit money, keep it safe, and earn interest on the balance over time. It is designed to help people save money while providing easy access to their funds when needed. Savings accounts usually offer lower interest rates compared to investment options but are considered very low-risk. They often come with features like ATM access, online banking, and minimum balance requirements. Overall, a savings account is a secure and convenient way to manage and grow personal savings.