Liquid Savings Account

The article may contain affiliate links from one or more partners. Learn how we make money to continue our financial wellness mission.

A liquid savings account is a type of savings that is easily accessible. Cash can be withdrawn when needed at any time.

Liquid savings accounts differ from other savings types such as a certificate of deposit (CDs) or club savings accounts which are less liquid. CDs and club savings are held in accounts that are locked in for a set time period before funds can be withdrawn without penalty.