Question

can there be any difficulties or disadvantages in keeping money in the bank? Think and write

Answer 1

they are:

1.Low returns/low interets : Savings accounts typically earn less over a period of time than the cost of inflation.Fight Inflation – By investing in equity or mutual funds 

.2.Bank charges : Banks will charge you a certain amount of fees for using their servicesATM, debit card,minimum balance etc.

3. Can tempt you to spend your money.

4.. Are insured only up to a certain amount.

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