Compound Interest

You earn Interest on the money put in the bank, and then you earn interest on your interest this is compound interest. This helps people who save money early and often richer faster.

How does it work

If you deposit $1000 in the bank and it earns 5%, you will earn $50 in interest in the first year. In the second year not only will you earn interest on the principal you will also begin earning interest on the interest in the account. In year 2 the 5% interest will be credited against the full $1050 you have in the account and your total interest for year 2 would be $52.50

Automatic Deduction

Automatic deduction helps Canadians save money by automatically putting a percentage of their paycheck into a savings account when you get paid, because the money comes right out of your account before you get it you don't notice it's missing and it doesn't seem like you're saving money but then you have it when you need it later.

http://www.investopedia.com/terms/c/compoundinterest.asp
http://www.finweb.com/banking-credit/automatic-payment-deductions.html#axzz4BekmrF6b