The real advantages of saving bank account

Fedebank23 Jan, 2023Finance

A saving bank account is essentially an account where you deposit your money into this account and therefore keep it securely. When you keep your money in this account, you will begin earning interest on it. In other words, the bank pays you for keeping your money in the saving bank account. This earning is in the form of interest earned on the entire amount kept with the bank. The bank looks after the deposited amount. If you could carry your cash with you, all the time or keep it in the home, you are expected to lose it in the form of theft or your house could be demolished accompanied by the money during disasters.