What is a Savings Account
What started in Venice around 700 years ago under war crisis is today an integral part of our life. Yes, am talking about Banks, The banks you see from your car every morning when we go to work unless you work there it-self. The banks that help you buy your son a new car on his birthday or the home of your dreams. Other than all that banks does for us, the most common interface is the Saving bank account, mostly the first account that you would ever have had, Saving account is the way you save your blood sweated money for the time when you need it the most, for what everyone would understand, saving account is a place where we all can keep our money safe and insured while it grows on its own by small amounts over the period of time.
All the banks today have the facility of opening a bank account with them, having a saving account makes it so easier for us to make all the billings done and even receive money from other. What earlier was a mere safety convention today has skinned itself out of its name and become a value pack for the people who own a saving account. Facilities like ATM cum Debit card for easy money access, money multiplier, internet banking, mobile banking and various other services based on the bank. It indirectly has not only made our lives economically safe but also convenient and at request. Making the payment at your favorite bar after those rounds of beer you had with your old school friends, or the expensive dress you bought for your wife, which everyone except you thinks is a great buy! My Street Einstein psyche believes that saving account are in a way saving us from hypertension, anxiety and even in lowering the crime rates in our society.
Imagine if one fine morning the bank sends all your savings nicely piled up back to you in your drawing room, I don’t know about your anxiety and tension to hide it in your home but if I was your neighbor, you would have been dead by now and I headed off to Hawaii for a long vacation instead.
In a very simple way saving accounts as a service have blended so well in our lives that we overlook the importance of saving accounts. So the next time you open up a saving account for yourself, pat yourself twice as you my friend have done a great help to yourself.