What is the purpose of a savings account?

Correct option is B

The correct answer is (b) Earning interest on deposits.
A savings account has multiple purposes, including:
Saving money : A savings account is a safe and accessible place to store money that you won't be using regularly. It can be used to save for emergencies, shorter-term goals, or other financial contingencies.
Earning interest : Savings accounts typically earn interest on the balance, which can contribute to your income.
Streamlining transactions : A savings account can serve as a central place to deposit income and make payments, which can help you track your money.
Keeping assets safe : Savings accounts can protect your assets from fluctuations in the stock market and real estate values.