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What is the advantage of using a savings bank instead of keeping one's money at home?
Wiki User
∙ 10y ago
Most importantly, security. If one keeps one's money at home, and their house should happen to burn down, their money is simply burnt up. Also, most banks offer at least a small percentage of interest earned on money they hold for one.
Wiki User
∙ 10y ago
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What is the advantage of keeping your money in a savings account?
Some of the benefits are:You get an easier way to save moneyYou get a Debit card that you can use for shopping instead of having to carry cash in your purseYou earn an interest on the money you keep in your accountYou get a check book that you can use for paying for services like telephone bill, grocery bills etc.
One advantage of a savings account?
you wont spend as much money
Why does it make sense for consumers to deposit their savings in a bank instead of keeping it home?
Banks pay interest on deposits - in return for investing their customers money in high risk returns.
How can you calucate financial savings?
you can caclucate by keeping trackn of what you do and save some money
What is one advantage of saving money in a savings account at a bank?
One can withdraw money anytime, can be used as a liquid cash.
What are the ways of keeping money for future use?
savings
What are the uses of a savings account?
a savings account is were you put money for future use if need be and for safe keeping
One advantage of a savings account?
you wont spend as much money
What is the advantage of keeping your money in a savings account?
Some of the benefits are:You get an easier way to save moneyYou get a Debit card that you can use for shopping instead of having to carry cash in your purseYou earn an interest on the money you keep in your accountYou get a check book that you can use for paying for services like telephone bill, grocery bills etc.
Why does it make sense for consumers to deposit their savings in a bank instead of keeping it home?
Banks pay interest on deposits - in return for investing their customers money in high risk returns.
How can you calucate financial savings?
you can caclucate by keeping trackn of what you do and save some money
What is one advantage of saving money in a savings account at a bank?
One can withdraw money anytime, can be used as a liquid cash.
Why should you treat savings as an expense in your budget?
To guarantee you save instead of spend the money.
What are the advantages and disadvantages of personal savings?
•Advantage: unlimited, the more you save the more you have to spend •Advantage: You have full control of your personal savings and you decide what to do with it. •Advantage: no interest •Disadvantage: it takes time to save up money • disadvantage: temptation to spend some of your savings is never too far away.
What does it mean keep the stoke?
Keep the money advantage as if you're working in your job and you think about quitting but someone tells you to keep the stoke, hence keeping the job = keeping the money.
Does my bank offer a high interest savings account, and is it a good way to save my money?
You will have to check with your specific bank to see if they offer high interest savings accounts but most major banks do. A high interest savings account can be a great way to invest your money. One advantage you have with a high interest savings account over a certificate of deposit is that your money is available at no penalty if you need to withdraw it.
What is an example of interest-bearing account?
An Interest bearing account is a bank account in which, the banks pays you an interest for keeping your money deposited in that account. Ex: Savings Bank Account - You usually get around 3.5% rate of interest on the money you hold in your savings account in India.
