answersLogoWhite

0


Best Answer

There are times when you run out of money, such as when you have been laid off from a job. It is extremely important to be able to put your hands on cash. When that happens, it is important that you have a savings account. Of course you can borrow money, but when you are down and out, you must pay extremely high interest. Savings accounts help you when you really need money. While most people do not, everyone should have a savings account with six month's salary for major emergencies. People who worked at the Pontiac factory who lost their jobs, would still lose their houses but would have the money to move and get reestablished.

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Why should you have a saving account?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What should be the minimum balance PNB saving account?

1000/-


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


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