0
There are no risks in a savings account. The bank is entitled to pay you the money you have saved in your account anytime you wish to withdraw it. Even if the bank goes bankrupt, the central banks of the corresponding country would be able to pay you off till a certail limit. For example in India if your bank goes bankrupt, the RBI would pay you till a limit of Rs. 1 lakh. Hence saving accounts are pretty safe.
What else can I help you with?
When would it be a good idea to put your money in a savings account instead of investing it?
It would be a good idea to put your money in a savings account instead of investing it when you want to keep your money safe and easily accessible, and you are not willing to take on the risks associated with investing in the stock market.
What is a compound interest savings account?
Its where your savings account earns interest on the interest.
What does a CD savings account do for me?
A CD savings account might earn money for you. This type of savings account earns interest for the person who purchases the CD.
What is savings account called at a credit union?
A savings account at a credit union is generally called a share account.
Where can one get a Halifax savings account?
There are many places that one can get a Halifax savings account. A Halifax savings account can be researched through local newspapers in Halifax. One could also contact Halifax to learn more on how to obtain a savings account.
Can you change a savings account to joint account?
You may be able to add someone to your savings account ..contact the bank where you have the savings account for details
Is there a monthly service charge to have an Eggs Savings account?
No, the Egg savings account called "Egg Savings Account (internet) Issue 2" does not have a monthly service charge. This type of savings account is accessible online.
When would it be a good idea to put your money in a savings account instead of investing it?
It would be a good idea to put your money in a savings account instead of investing it when you want to keep your money safe and easily accessible, and you are not willing to take on the risks associated with investing in the stock market.
What is a compound interest savings account?
Its where your savings account earns interest on the interest.
What does a CD savings account do for me?
A CD savings account might earn money for you. This type of savings account earns interest for the person who purchases the CD.
Why open an savings account?
A savings account is a good place to keep money safe for future needs.
What makes a savings than a checking account account a better investment?
A savings account earns interest.
What is a savings account at a credits union?
A savings account at a credit union is generally called a share account.
What's one difference between a checking account and a savings account?
savings account earns interest.
What makes a savings account a better investment than a checkings account?
A savings account earns interest.
How does one get an Abbey Savings Account?
You can get an Abbey savings account through banks such as Santander. You can also compare the savings you would receive from using an Abbey savings account online at websites such as Monevator.
What is the primary difference between a business and a personal savings account?
A business savings account his connected to a business. While a personal savings account is connected to an indvidual.
