what are the advantages and disadvantages of savings accounts?

Answer 1

Kind of vague but I will assume you mean Bank savings accounts.

Advantages is that Banks pay you interest for the privalage of using your money (while it is in the bank). So you money grows.

It is typically guarenteed up to 100,000 per account so you can't lose your money.

Disadvantages - You may not have immediate avialablility to your money - have to go to the bank to take it out.

Interest rates in banks are low so you may not be earning as muhc as you could with other investments

Answer 2

advantages: very low risk, and safe, Most banks are FDIC insured

disadvantages: low rates unless you can find an onilne bank with one

Answer 3

In short.
Pros-Easy acces to your money.You can withdraw money any time
with no penalties.
Cons.-Relatively low rates compared e.g to bank Cd.