Savings products are financial tools offered by banks and credit unions that help individuals save money while earning interest. Common types include savings accounts, certificates of deposit (CDs), and money market accounts. These products are designed to encourage saving by providing a safe place to store funds and typically offer higher interest rates than regular checking accounts. Many savings products have specific features, such as minimum balance requirements and withdrawal limits. They are generally low-risk options for individuals looking to grow their savings over time. Understanding the different types of savings products can help consumers choose the best option for their financial goals.