Question

Write your importance of saving account in your day to day life in 12 sentence

Answer 1

◦•●◉✿HERE IS YOUR ANSWER✿◉●•◦

A Savings Account is an excellent place to collect funds from different sources. There are no limits on cheques deposited or cheques issued or payments made from a Savings Account. This makes it free to own and operate.

Income generating account:

Unlike a current account, a savings bank earns interest. The balance earned in a Savings Account helps to improve the individual’s income. Some banks offer higher interest rates for maintaining a higher balance, while some offer in facility which helps earn higher interest income.

Can help plan your c h i ld’s financial future:

By opening a K i d s Savings Account, you can help your child understand the basics of how to operate a bank account. These valuable financial lessons can help your child manage their finances and learn the value of money.

A Savings Account may seem simple and plain, but it is an essential part of many lives.