What is the primary advantage of a savings account?

A savings account is designed primarily to provide a secure place for individuals to store their money while earning some interest. The primary advantage is its accessibility for funds that may be needed in the near future but not immediately. This aligns perfectly with the nature of a savings account, which offers liquidity and relatively safe storage for cash.

While savings accounts do earn interest, the rates are typically lower than other investment avenues, making option A less relevant since long-term growth is not the primary focus of such accounts. The intent behind a savings account is not to maximize returns, as in option C, but rather to provide a convenient and low-risk way to manage funds for upcoming expenses. Additionally, while some savings accounts may have fees, the main goal is not to avoid fees related to investments, which makes option D less relevant in context.

In summary, the primary function of a savings account is to hold money that may be used in the near term, thereby making option B the most accurate representation of its primary advantage.