5 advantages and disadvantages of bank money
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Explanation:
ADVANTAGES
The banks provide financial assistance or loans to people in need.
Although the debtor has to pay interest for the loan amount,
during emergencies such loans can solve a lot of problems.
Technology has also helped in making the banking sector better.
DISADVANTAGES
Chances of Bank going Bankrupt
Risk of Fraud and Robberies
Risk of Public Debt
Low returns : Savings accounts typically earn less over a period of time than the cost of inflation.
Fight Inflation – By investing in equity or mutual funds
Bank charges : Banks will charge you a certain amount of fees for using their servicesATM, debit card,minimum balance etc.
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