A savings account is a type of bank account where you can deposit your money over a period of time. The bank safeguards your money and also pays you a certain amount of interest for the amount. If you are a student in the country, managing your finances is very important. Here are the benefits of savings accounts for students and the top reasons you should get a savings account right away:

1. Student savings accounts are easy to open:  Are you a student in the country? If so, it is very easy for you to open a savings account in the bank of your preference. All that a bank needs are a few basic ID proofs and an application form to be filled.
2. These accounts can be managed online:  Unlike when you had to constantly visit the bank if you wanted changes in your account, be it for withdrawing money or for requesting statements, your savings account can be managed online. This is one of the most important benefits of savings accounts for students.
3. There are usually no minimum balance requirements:  Most banks require their customers to maintain a minimum balance in their savings account. Having said that, this rule is quite relaxed when it comes to students, and most banks do not require a minimum balance to be maintained in a student savings account.
4. No minimum deposits:  Just as the minimum balance requirement is waived for students, there is also no need for a minimum deposit to start an account if you’re a student. You can even open your account with a zero deposit.
5. A savings account teaches you to start saving early:  One of the leading benefits of savings accounts for students is that they help you learn to save money, which will be useful throughout your life. By opening a savings account, you can learn to start saving whatever you can spare every month.
6. The money saved is available as liquid cash:  Unlike other accounts where you have to pay a charge to withdraw your cash or need to wait for a few days to make withdrawals, the benefits of savings accounts for students include easy access to cash when needed.
7. Preventing thefts:  Money going missing from dorm rooms or the wallet is quite common in student life, but this can be prevented by safeguarding money in a savings account. This way, your funds are protected as well as easily accessible.
8. Free transactions:  For student accounts, the first 5-10 transactions made in a month are usually free, which is among the most important benefits of savings accounts for students.

Having a savings account is extremely beneficial for students as it helps keep funds safe as well as accessible whenever they need them.