Saving Money in the Bank due to earning interest is it a wise investment decision?

[Kingsley]

Lot of things depends on the country we live. If we live in a country owning solid banks, no bankrupticy risk (well, when we talk about finances, zero risk never exists, so it's better to talk about very low rate risk) and these banks offer investment options, why not take advantage?

In my country federal banks offer interesting investing option, stock exchange included. This year I began with some stock exchanges, at first looking after increasing value and finally looking after dividends. Only very small investments, as I'm quite new in this field (but I studied a lot about) and don't have too much to invest in high rate risk as stock exchange.

Stock exchange may give us very high return, but we can't invest blindly. It's necessary to studying and be discipline.
Saving in a system with a sound economic plans can actually boost ones financial capabilities as the earn interest can even bring about a boost on somany things. While if I one is saving in a weak system and corrupt system it becomes a huge loss.

What's your take ?

 

[Bookwormlux]

There are no differences in interest rates no matter the country. All banks pay very little as interest if you decide to save your money with them. I think it is better to invest the money if you are looking at how to make some profits. Saving should only be when you have a specific goal in mind to achieve, not that you are thinking about interest to make.

 

[Chibson]

like someone have said up here that interest rate in every country is very small and I don't think saving money is the bank in form of investment is a wise one because you will not make any reasonable amount of money. It is actually not a wise investment because every investor wants to get double or triple or even more of what he invested so what wouldn't give you half or even double of your investment is a joke.

 

[sincerem]

Bank doesn't bring enough interest that's why i don't consider it as an investment option. If you need security for your money then you should save in the bank cos your asset remains firmly stable and not devaluing like the way crypto does. But when it comes to investment return you shouldn't expect bank interest to fetch any reasonable amount of money.

 

[Lens1000]

The convectional banks have included life changing programs in their services in my country . The programs accross all the banking platforms differs with different banks . Some banks will give you double of the amount that you have in your savings and you are expected to keep the money for specific number of years.

 

[Kendy]

If by paraventure you decide to save your money in the bank then you should remove your mind from having interest rate because by now, it should be a known fact that bank offers very low interest rates. If you want your money to outgrow a bit, then you might want to opt for the fixed deposit account but in such account, you do not have access to it until they stipulated timeframe or duration or if by some circumstances you still choose to use the funds, then the interest rate might be reduced or lowered by a 25 percentage or you could opt for the treasury bill account which your money will be borrowed by the government and you will receive a higher interest rate than that of a fixed deposit account. This two saving method, the fixed deposit and treasury bill is 100 percent safe and can bring more returns but if you want to save your money in regards to interest rates, then it will be a negative impact. It would be more advisable to invest in real estate properties, to invest in feasible businesses, to invest in stocks and shares of reputable companies or telecommunication companies in your country.

 

[Bookwormlux]

If you do not have enough knowledge about different forms of things that you can invest in and make as much money as possible , I believe that it is only wiser you just continue with saving money in the bank instead of following the crowd by going to invest in something, especially if you did not have correct knowledge of it and then you end up losing out in the long run .

They mistake that a lot of people do is that they make themselves fall victim of the fear of missing out .
They feel that if their friends are investing and making profit , they too should be able to do so .

The fact is that , any individual who does not have enough knowledge about whatever it is that he or she is trying to get into , it is better for them to try as much as possible to see that they just respect themselves and stay off any form of investment .

I am always only opinion that saving money in the bank is also a very great way and it will enable you to be able to utilise any opportunity that will present in the future .