A | B |
Certificates of deposits (CDs) | Long-term deposits that have certain restrictions and pay higher interest rates than regular savings accounts. |
Individual retirement account (IRA) | A taxsheltered retirement plan that allows certain workers to invest up to $2000 annually and pay no tax either on that sum or on its earnings until the money is withdrawn. |
Money market account | A special account that pays a variable interest rate based on rates paid to holders of short-term government debt. |
Savings account passbook | A record that shows your deposits, withdrawals, interest earned, and the balance of your savings account; the bank teller records each transaction. |
Savings account register | A record in which you must record each deposit or withdrawal as it is made from your savings account; you must also add the interest when the bank reports it to you. |
Super NOW accounts | Special savings accounts that require higher minimum deposits and pay higher rates of interest. |
Withdrawal slip | A written request to take money out of your account. |