Question

When you open a savings account, how much money do you need for the initial deposit? A: Usually, the minimum deposit is low or none at all. B: No minimum deposit is required.

Answer 1

A would be the answer since Banks would usually have a required minimum amount of money that you must deposit into your new savings account so that it can be operational and earn interest as well. The interest earned on the deposit in your savings account will depend on the location of the bank, e.g. is the bank in USA or Canada, as USA may have a different interest rate than Canada. The minimum amount you have to deposit will be determined most likely by your respective bank, e.g. Bank of America may have a different initial deposit requirement than CHASE Bank.

Answer 2

I would choose A, it all depends where you open a savings account