Earning interest by saving your money in the bank

[Potuse]

You can earn reasonable interest when you fixed your money in the bank for certain period of time . There is usually a certain percentage that is attached to this type of activity and at maturity, the percentage will be added to the amount you have saved for that period of time.

 

[Riberet19]

Well I'm really not a fan of earning interest in the bank because in the place where I live they pay too little, I understand that in banks in other parts of the world they pay decent amounts in interest, here it is not like that.

 

[Joy123]

Yes, I am. When I keep some money in my savings account, I usually earn some interest on the account balance. Unfortunately, the interest might not generate much income.

 

[Kennysplash]

I would rather invest my money than put it in the bank. The interest rates of banks is nothing to write home about, besides inflation will eventually eat all of it and even your capital.

 

[tray59]

I would rather invest my money than put it in the bank. The interest rates of banks is nothing to write home about, besides inflation will eventually eat all of it and even your capital.

If you invest your money on put it in the bank they are all good enough but I take bank investment as been the best I also think that fixed deposit in banks brings interest so if I have money I won't hesitate to invest in banks

 

[Planbizzle]

Depositing money into a high-yield savings account at a bank or credit union is one option to get interest on your funds. These accounts often have interest rates that are higher than those of conventional savings accounts.

 

[Jonaville]

You can earn reasonable interest when you fixed your money in the bank for certain period of time . There is usually a certain percentage that is attached to this type of activity and at maturity, the percentage will be added to the amount you have saved for that period of time.

I always earn bank interest at the end of every month but the money is very small. I think the best way to earn interest is by using a fixed deposit. That is going to help.

 

[Nomad]

A lot of people, especially the elderly people, use this method to generate income in my home country. If you deposit money in fixed deposit bank account, you can get upto 12 percent interest rate.

 

[Laurentta]

You can earn reasonable interest when you fixed your money in the bank for certain period of time . There is usually a certain percentage that is attached to this type of activity and at maturity, the percentage will be added to the amount you have saved for that period of time.

Honestly, i don't really think one can earn a reasonable interest when one keeps one's money in the bank for a fixed period of time. This is because banks interest rate are so low.

 

[Mayorla]

I think when you open a Fixed deposit account in a bank, Then you are assured of guaranteed interest rates on the sums you deposited for a period of time. The interest rates varies and is dependent on the bank you use.

 

[Danny4cash]

You will actually earn an interest when you fixed your money in account for a certain period. Fixed means you won't be able to withdraw your money untill the period you fixed it for elapsed. But the interest bank usually pay is small.

 

[Heatman]

You can earn reasonable interest when you fixed your money in the bank for certain period of time . There is usually a certain percentage that is attached to this type of activity and at maturity, the percentage will be added to the amount you have saved for that period of time.

Anyone who is wise will never save his money in the bank hoping to make more money by getting interest from whatever the bank are going to pay you because banks will never pay you anything that is worth any amount of money that you deposit in your account.

This is why you have to use your money and invest in projects that are going to pay you a good percentage of the money as your return of investment.

 

[Smiles20]

There are some banks around here that can give you as much as 5% of the money you put every year but this is going to depend on the money you put. I believe that there are other safer ways that you can earn more in a year.

 

[Ja Sa Bong]

You can earn reasonable interest when you fixed your money in the bank for certain period of time . There is usually a certain percentage that is attached to this type of activity and at maturity, the percentage will be added to the amount you have saved for that period of time.

It's only when you save your money in a fixed deposit account in the bank you will have a good chance of getting improved interest on the money. Banks will not pay you any good interest in your savings account, they will charge you for operating a current account.

 

[Debashis]

It's only 3% here at my place so it's not at all appealing for us which is why we look for financial instruments where we can get way better ROI like stocks, gold, real estate etc.

 

[Good-Person]

Well I'm really not a fan of earning interest in the bank because in the place where I live they pay too little, I understand that in banks in other parts of the world they pay decent amounts in interest, here it is not like that.

I also dislike earning interest and there are various reasons for that. Interest rates will damage the economy in the long run if we talk about macroeconomics. many countries like america have been increasing the interest rates and they have never been able to cool down inflation till now.

 

[Heatman]

It's only 3% here at my place so it's not at all appealing for us which is why we look for financial instruments where we can get way better ROI like stocks, gold, real estate etc.

The only way you can be able to get more than 3% interest in the money that you saved in any bank in my country is when you must have saved your money in a fixed deposit account.

The bank I am currently using is only going to offer you 7% interest on the money that you have saved for 4 months.

 

[Grant]

That's a common practice all around. If you want to earn a little extra, put some money in a savings. I would go for credit unions over banks though, your money is safer at a credit union style banking system.

 

[Good-Person]

The only way you can be able to get more than 3% interest in the money that you saved in any bank in my country is when you must have saved your money in a fixed deposit account.

The bank I am currently using is only going to offer you 7% interest on the money that you have saved for 4 months.

Trading is much better than earning interest. Even if a person earns 7 percent money, a trader may be able to make much more than that. This is why I am also planning to start trading rather than depositing my money into a bank account.

 

[Heatman]

Trading is much better than earning interest. Even if a person earns 7 percent money, a trader may be able to make much more than that. This is why I am also planning to start trading rather than depositing my money into a bank account.

If you have the knowledge of how to trade successfully on either Forex or cryptocurrency, it is definitely better than leaving your money in the bank account. You can easily use the money to fund your trading account and make money from your trades. But unfortunately, trading isn't something that you can just wake up anytime and decide that you want to start doing it because it is going to wreck you and render you bankrupt.