Investing money in a savings account is something very common in Portugal! This is because saving your money and investing are two of the best techniques for good financial health.

In fact, it is very easy to open a savings account. The vast majority of Portuguese banks have a savings option for their customers. So, if you have a current account, know that you can open your savings account!

Anyway, are we going to discover more reasons for this popularity? How about learning some tips on how to invest in a savings account and the advantages it offers? Continue reading the text for complete information!

Firstly, savings accounts are very safe, which is why the yield can often be lower! Furthermore, they remain among the most interesting options for those who want to keep their money.

If you are in doubt whether you should put your money in a savings account, we can tell you to do it as soon as possible!

In fact, opening a savings account is the first step towards good financial education. So, take advantage and pass on all these tips to your children and help them develop this habit of care.

So, with all the necessary information you can decide for yourself which is the best option for you!

The main point in favor of a savings account is the fact that it works as an investment. In other words, the capital deposited will earn interest that will accumulate and yield an increasingly higher amount.

So savings work with capitalization, the longer your money stays in the account, the more it will yield. Likewise, it is important to constantly reinforce investments, maintaining a higher return each time.

Despite this, as mentioned, the return on savings is low. However, some income is better than leaving your money to constantly depreciate in value.

Another highlight of choosing to invest in a savings account is the flexibility in moving your money. So, you can move the amount you want, whether partial or total, at any time.

In other words, this point brings confidence and security that if you need the money it will be available to you. Some other types of investments require that your money remains for a minimum amount of time without withdrawals.

However, this flexibility can also be a problem. This is because, with money more accessible, you can be tempted and withdraw the money without complete need.

Furthermore, this flexibility influences lower profitability.

Unlike the vast majority of investments, savings accounts offer few risks. This way, you have practically zero chance of losing the money you invested. In other words, you can continue making profits without any headaches.

Another important point is that savings accounts are guaranteed by the Guarantee Fund. So, this is an additional guarantee of the refund of bank deposits of a maximum of 100 thousand euros per depositor.

Following our balance, this can also be seen as a negative point, as security is one of the points that reduces the potential profitability of savings.

Many investments do not allow you to continue depositing and reinvesting. In other words, investing in a savings account makes it possible to increasingly increase the amount that will be capitalized.

This is an ideal way to save money monthly without it depreciating in value! Furthermore, the more money you have in your savings account, the more financial return you will get!

One more advantage of investing in a savings account is that it does not require a minimum amount. In other words, you can invest cents of euros or even thousands. So, anyone from any social background can invest!

This is a safe and guaranteed way to make your money count. On the other hand, remember that proportionally the more you invest, the greater the financial return!

Furthermore, it is worth pointing out that there are different types of savings accounts to invest in banks. Thus, these models are related to incorporation deadlines, which can vary between one to twelve months, for example.

Although you won't lose the initial money, withdrawing the amount prematurely may mean you don't take advantage of all the interest possibilities! This way, check all the details with your bank.

Therefore, depending on your profile and your objective when saving money in your savings account, you can set a different constitution deadline. In fact, if your profile is conservative, a savings account is the ideal investment!

Now that you know all the advantages you get from investing in a savings account, how about finding out about some exclusive options to put what you learned into practice?

Therefore, one of the best current options is the D savings account offered by Freedom Finance Europe. Therefore, this is a savings account that can only be opened by those who have a trading account on this platform.

In other words, Freedom Finance Europe is not a bank, but an investment platform. However, your money in the D Savings Account yields much more than in a normal bank.

Furthermore, if you want to better understand how the D savings account works and why you should choose it, check out more details in our review. Access the link below now!