Living without our bank accounts would be a major problem. They help us save money. They provide a sense of safety and security. We do not need to fear that we will be robbed of all our money in a single day. In addition to both these factors, bank accounts also accrue interest for us on our savings. So there are so many advantages. It helps to be familiar with the whole banking process. After all, we will be using bank accounts almost all the time. So, it makes sense to be knowledgeable about the kinds of bank accounts that shall be available to us. This knowledge will help us make the best decisions about how to save our money.
There are many ways by which our money can create revenue for us. We can invest in bonds or in the stock market. We can even choose to buy some property. However, in a bank account, the expenses are too little to count. We can always make use of the money in the bank. Unlike in the case of property, the money is liquid. Of course, there is a certain minimum balance which may be required by the bank. Also, a savings account in a bank can never provide the kind of returns that are inevitable in case of other kinds of investments. However, the...
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