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There are two main disadvantages:
* No. of transactions per month/per year are limited.
* Rate of interest on the money held in the account is very meager. 4% is not even enough to beat the inflation rate of the country which is somewhere around 7% or more.
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∙ 14y ago
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What is the difference between saving account and salary account in bank?
In Salary Account 0 balance is allowed and in saving account minimum balance required
How can your account in sbi?
saving account SBI ETAWAH branch mandi
What is free checking accounts?
My saving account
Difference between current account and call deposit account?
A call deposit account is a hybrid form of Current account and general saving account which allows us to withdraw money at any time as in current account and provides us interest on the deposit amount as in other saving account.
What is home safe saving account?
Home Safe Saving Account is a small portable safe provided to the depositors by the bank.Not many people are aware of this type of an account and therefore it is very rarely used.
What are the types of bank accounts in Pakistan?
1.fixed deposit account 2.saving account 3.current account 4.home saving account 5.family saving account
What is Free account?
My saving account
What account is similar to a saving account?
Current Account
What is the difference between saving account and salary account in bank?
In Salary Account 0 balance is allowed and in saving account minimum balance required
Best saving account interest rates?
saving account interest rate is now 4% that is best
What is meant by saving bank account?
saving accounts earnings
Can you get a loan with a saving account?
No! You must have a credit account!
You want your account balance in saving account your account no 10553294698?
yes
What are disadvantages of saving money in bank?
Saving money in banks is always a good thing. You can use the money for an emergency requirement like hospitalization of a family member or your retirement etc. The only disadvantage or downside I can think of is the fact that, banks don't give a great interest rate on money saved in a savings account. So in the long run, putting the money in a fixed deposit or investing it in equity instruments would give you better returns than keeping the money in your savings account. Nonetheless, saving money is never a disadvantage no matter what.
Is a bank saving account a good place fo save money?
yes, hence the name saving account.
How could you check your Saving account balance?
iob saving balenc
What is main objective of a saving bank account?
Saving money. Obviously
