FINANCE TIP: Never keep your cash savings at a regular type bank accounts such as Chase/Wells Fargo/etc. Make sure you use online banks (or some credit unions) which offer much higher interest rates. Bannkrate.com does a good job of showing who's currently got the best rates. Just for example Chase banks and Bank of America (the worlds two largest banks)savings accounts have an annual interest rate of .01%. Ally Bank has an annual interest rate of 4%. One is keeping up with inflation and one isn't even close..ie you're losing money in it! INSANITY
I agree, there are online/digital banks that are offering better rates for an annual rate if you ever choose them to deposit your money. And the catch is that you're also free to withdraw it anytime at your own will.
Before, I was a fan of time deposits but I've learned it all along that it's good to get into it if the rate defeats the inflation rate that your country is experiencing. Otherwise, it's much better not to keep it there and find a better asset or investment that will earn more than the inflation rate so that you'll retain your wealth and its value.