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  #1  
Old 11-01-2012, 02:35 AM
2bWed 2bWed is offline
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Default Savings Account?

With such low interest rates, is there any need to have a savings account today....or is a checking account just as good?
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  #2  
Old 11-01-2012, 02:40 AM
2bWed 2bWed is offline
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Default Re: Savings Account?

as long as you make sure to still save and not spend all the money.
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Old 11-26-2012, 10:37 PM
Therillah Therillah is offline
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Default Re: Savings Account?

If u have more than 5k you don't plan on spending the next 6 months, do a short term Bon no load fund. Get check writing privileges for free too.
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Old 11-27-2012, 06:15 PM
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thesimplemoneyblog thesimplemoneyblog is offline
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Default Re: Savings Account?

Even though interest rates are low, some interest is better than no interest (since most checking accounts do not pay any interest, but there are that pay some interest), so it is still worth setting up a CD, savings, or money market account.
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Old 12-03-2012, 02:40 PM
thelastsubject thelastsubject is offline
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Default Re: Savings Account?

Quote:
Originally Posted by 2bWed View Post
With such low interest rates, is there any need to have a savings account today....or is a checking account just as good?


5 years ago you could have earned 5% in an FDIC insured savings account. Today we are in the lowest interest rate environment in over 50 years. You are correct that a savings account is not nearly as beneficial as it used to be.

What you need good sir is a nice no load Short Term Bond Mutual Fund. Its a step up in risk from a money market, likely paying over 2% with minimal volatility and some even come with a checkbook. Just cant get it from a bank.
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Old 12-17-2012, 05:46 AM
mkenneth mkenneth is offline
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Default Re: Savings Account?

some interest is better then no interest so its good idea to save money.
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Old 12-20-2012, 03:35 AM
SMSF101 SMSF101 is offline
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Default Re: Savings Account?

well, it's up to you...if you say you'll save money then keep it, not swear then break it. we all needed extra funds for emergency situations and for business plans so saving money is good... but I believe you can't hold on to your money as tight as you could... whether it'll spoil to antiquity or you'll use it to exchange goods...
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Old 01-02-2013, 10:40 AM
Thoram Thoram is offline
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Default Re: Savings Account?

I think some of banks really offering some attractive interest rates for saving accounts, with which you can get some healthy profits at the end of year on your savings. But i think with a little lower interest rate, it still nice to have a saving account in bank as it could work for us in case of need or emergency time.
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Old 01-17-2013, 03:14 AM
fsna.hartley fsna.hartley is offline
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Default Re: Savings Account?

It is still good to have a savings account even though the interest rates are very low. If you have funds that you think you won't be spending in the next couple of months then a savings account is a good way to store that money than in your pocket.
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Old 04-08-2013, 12:49 AM
dimpibhosle dimpibhosle is offline
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Default Re: Savings Account?

open your account in kotak mahendra they give 6% interest. and open your saving account with long invest mony
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  #11  
Old 07-02-2013, 02:39 AM
mehrasonia543 mehrasonia543 is offline
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Default Re: Savings Account?

You should have a savings account as it not only secures your money but also grows your money as per your bank schemes. YES BANK provides good interest rates as per my knowledge and I have invested in the same.
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Old 09-03-2013, 11:23 PM
kerstinemeyer kerstinemeyer is offline
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Default Re: Savings Account?

Yes, you need to save in order to have something in the future. At young age it is always a wise decision to have a saving account.
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  #13  
Old 09-30-2013, 04:33 AM
raginimehra raginimehra is offline
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Default Re: Savings Account?

The savings account is the best investment as it not only saves but also increases your earnings as per the interest rates. Investing now can secure you financially in future. Visit YES BANK online to know about the benefits and features of savings account.
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  #14  
Old 03-12-2014, 03:02 AM
JennyMorrow JennyMorrow is offline
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Default Re: Savings Account?

Saving account is always a better option in investment point of view. Saving account has many benefits like free cash withdrawal, easy debit, credit card use, free cheque deposit and withdrawal, and free e-statement. You earn interest too on monthly or quarterly savings in your account.
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  #15  
Old 11-08-2014, 09:02 AM
yonkerlee yonkerlee is offline
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Default Re: Savings Account?

Yes you should have a savings account.It is the foundation of any investor.You can use it for many purpose right from opening a demat account etc.
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