what are the advantages of depositing money in the bank
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). It is the safer place to keep money as compared to the house or a working place.
ii). People can earn interest on the deposited money.
iii). People have the provisions to withdrawn the money as and when they require.
iv). People can also make payment through cheques.
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Low returns. Savings accounts typically earn less over a period of time than the cost of inflation. These low returns can make saving in a bank a poor financial decision for the future. It may be a better choice to save money long term by investing it in mild and safe mutual funds.
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