Which of the following are common types of savings accounts?

The correct choice highlights two widely recognized types of savings accounts: high-yield savings accounts and traditional savings accounts.

High-yield savings accounts typically offer a higher interest rate compared to traditional savings accounts, making them an attractive option for individuals looking to grow their savings more effectively. These accounts are often found at online banks, which can afford to provide higher rates due to lower operational costs. Traditional savings accounts, on the other hand, offer basic savings features with usually lower interest rates but with access to funds and consumer familiarity.

Both account types serve basic savings purposes, allowing individuals to store money while earning interest, which is essential for financial planning and building an emergency fund.