These accounts are helpful for people aiming to save money over a more extended period. Most banks will offer an interest rate for funds in a savings account. An interest rate of 1% means that for every 100 dirhams in an account, the bank will add 1 dirham to the total. Banks can do this because they use that money for other transactions and pass some profit back to the customer.
Savings accounts often require a minimum balance to be maintained. There may be restrictions on how often you can withdraw money from the account. Before opening a savings account, you have to be confident that you will not need to access the money in the short term.