Day 36

Lesson Objectives

  • Determine what to look for when choosing a savings account
  • Understand the four different types of savings accounts
  • Determine what type of savings account you would choose
  • Identify savings tips as well as why keeping your money in a bank is a good thing

Assignment BAU3.3

  1. Watch this video to identify the the three basic questions one should ask themselves when choosing an account as well as the four types of savings accounts available at most banks.  Identify the pros and cons of each type of account. 
  2. Create a Google Document titled Types of Savings Accounts-(Your Initials).  In that document, create a 5×5 table that lists the four types of savings accounts on the left, pros for the accounts in the second column, and cons for the accounts on the third column.  For the fourth column, you need to go find a bank online that offers all four types of accounts.  In column four, you will provide the current savings rates that that bank offers for those accounts.  In column five, you will provide a direct web link to that information you found for column four.  It should look like the table below:
Type of Savings Account Pros Cons Interest Rate Web Link

Assignment BAU3.4

  • Part I
    1. Create a new Google Document titled My Choice-(your initials).  
    2. Using the information you gathered from the video above and using the table you created, write a paragraph explaining what type of account you would choose and why.  
    3. Then use the internet to find a local bank (non-regional or national) offering that type of account.  Create a table like the one below that showcases the details about that type of account and the requirements to be able to use that type of account.  

**Be sure to provide the website where you got your specific account information for the bank you chose.

Account Details (Name of Account)
Monthly service fee  
Minimum opening deposit  
Features and benefits  
Current interest rate  


  • Part II
    1. Watch this video and make a list of the 3 tips that are mentioned for saving as well as why you would want to keep your money in a bank instead of at home.
    2. Read through these money saving tips for students.  In your My Choice document, make a list of some items that would help you save more.

Assignment BAU3.5

  1. After completing the assigned tasks in Lesson 3 above, share your Lesson 3 folder with your teacher.  These are the files you should have in your Lesson 3 Folder:
    • Checking vs Savings
    • Types of Savings Accounts
    • My Choice

Lesson 3 Quiz-BAU

  1. Complete the Lesson 3 Quiz for the Banking Unit.