If you are not interested in savings accounts then you should start right now, because they are good way to hold on to the extra cash you want to leave aside for darker times. These accounts are maintained by financial institutions that will pay you interest for keeping your money safe, but that money will be excluded from immediate cash flow which means that you will not be able to buy things with that money. Even if you request that money bank might be unable to provide it in exact moment. But there are reserves that will cover that. The reason behind the lack of your money is in financial markets. Banks will use money from those accounts in order to invest in financial markets and thus create source of income which will cover interest that you get and to get some profit as well.
There are no limits on maximum amount of money you can withdraw from saving account, but in return withdrawal from these accounts might be costly and time consuming. Same thing happens with online banks that offer savings accounts as well, because that request for withdrawal must be approved by Automated Clearing House, and only after that it is transferred to your normal brick and mortar bank from which you can withdraw it.
Holding on bigger amount of money without investing it might be good way to accumulate it and use it sometimes in the future, but leaving that money on your account to “gather dust” is not smart. If you have that kind of money then you should create a savings account and get interest on that money. And in this age of technology that bank doesn’t have to be some local bank that offers low interest and has high cost, it can be online bank that has high interest and low to none costs.
The best interest yields are found in online banks, which are less known to wider populace. Those online banks can work with high rates because they don’t have expenses brick and mortar banks have (for example they don’t have large network of branches they must manage). It might take a while to locate one such bank because they don’t have adds all over internet. But do search for Ally Bank, Capital One 360, Synchrony Bank and FNBO Direct and in them you will find some good and reliable banks that offer good interest rates. I can’t go in those interest rates too much, because they change over time, but average interest rate right now is around 0.9 percent.
Interest rate changes as financial market fluctuates, but that shouldn’t be a reason for making a savings account with fixed interest rate. That rate is already low, and keeping it on one amount is not smart in the long run. This is due to the fact that any change that happens can hurt your interest yield a bit, but it can also increase that yield a lot if interest rate sharply increases due to events that affect financial market.