A person opening a regular savings account would expect to be able to deposit and withdraw funds as often as the depositor chooses to receive the highest savings account interest rate the bank offers O to need a large investment to open the account O to deposit funds for a specific amount of time

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Emergency Fund

The emergency fund is an amount that is kept aside to meet financial emergencies such as medical expenses and debt settlements. Emergency funds reduce the burden on people during their hardships. People save small portions of their earnings or paychecks as emergency funds to meet financial emergencies. Emergency funds should be saved or invested in such a way that they must be easily liquidated during emergencies. The main purpose of an emergency fund is its availability when required.