For attracting more customers, the banks may offer different features of the bank accounts. For example, if you go for the high interest savings account, then you may get more interest than average however; the high interest savings accounts may have more restrictions.  If you are planning to open a bank account, therefore, before taking any decision you need to consider the following features of savings account. 

First, the most appealing feature of the savings account is that it bears interest. At the end of each, a statement is sent to you that hold the information about the interest earned on the deposited amount in the savings account. The more the value of deposited money in your account, the higher interest you get paid. 

Second, the detailed statements are issued to the savings accounts holders. The amount is showed on the statement along with the information about the deposits and withdrawals made after the last statement. Moreover, the statement also gives you information about the fees, fines and costs deducted from your account. Some banks also show the special features of your account, if being availed by the customer.

Third, funds can be transferred to and from the savings account. It is not necessary that all banks are giving this feature; however, by availing this feature you can send money from your account to the other accounts very easily. Similarly, the other savings account holder can transfer the amount to your account. 

Fourth, for the prevention of the overdrafts, the savings account is linked to the checking account. The benefit of this feature is that if you write a check and you get the response that there is no sufficient amount in your account, then your check will be honored because the amount will be deducted from your savings account. Some banks charge some fee in the case of overdraft amount however; such charges are limited to one-time only. 

Finally, most of the banks are providing online savings account access. This feature of savings account, give you an opportunity to get all information related to your account online. The most common applications which you can use through online savings accounts include check balances, transfer funds and other such information. You can also get the electronic statements of the company online. Therefore, after getting online access you are not required to physically visit the bank every time you need any information.  

Another question which most of the people ask is that why they should go for savings account instead of the checking accounts. The idea is very simple that by savings accounts you can get an interest on your amount deposited while in checking account there is no interest. If you have hundreds of dollars in your account then instead of keeping the cash idle you can earn money on this amount. Moreover, your money is also saved and secured in the bank account. 

The features of the savings accounts may vary depending upon the offers of the bank therefore, before opening an account you need to ask the banker about the best savings account that matches your needs. For example, if you want to go for health savings accounts, then you must ask the banker about the features and requirements of the health savings account. Therefore, if you want to get high yield, then you should ask the banker for high yield savings account. The high yield savings accounts will have different features therefore, you must read the terms and conditions before deciding to open the account.