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At one time, people used to save their money in banks in an saving account to get interest on that money. But time has changed. At present time, it doesn't look any benefit in saving money in a saving account as the interest rate is too low.
Banks use people money to give other people loan on high interest and they get benefits. But that benefit doesn't add in your money. People don't get more interest.
So at present time people prefer to save their money by investing somewhere else like LIC, by purchasing shares or any other mode instead of having a saving account.
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