3. Advantages of Banking


It built a habit of setting aside money. There are various types of bank accounts like fixed deposit, current deposit etc which a customer can choose based on his need.

A savings account can offer the holder a small profit on her deposit for allowing a bank to use your money to make investments. In exchange, the bank will compensate you by paying you a small rate of interest.

In certain kinds of accounts, your money is placed in liquid money market funds, generating higher revenues.

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