Should I leave my money in a savings account?

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exBanker
Expert
Answers: 1

#1

 

We at most times have the habit of leaving our extra money in savings accounts when there are alternatives like high-yielding fixed deposit, treasury bills and call deposit accounts. . Is it best to you leave your money in a savings accounts?
savings account.jpg
There's this thing called time value of money. Also, banks pay small interests on money saved in savings accounts.

Question is: is it profitable to leave your money in savings account?

Are savings accounts economically wise?

Share your opinion.

:thinking:
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Deon
Verified
Answers: 2

#2

 

Investing your funds in a profitable business is better than leaving it in a savings account.
Banks make more money as interest rates rise due to the higher yields that they earn by investing their depositors money.
An eye for an eye left thousands blind,
Remember that.........
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