We keep hearing bank frauds occurring now and then across the world and it is not just with the private banks alone. A lot of public or government banks have been indulged in frauds recently. If banks are not a safe place to keep all the money then the next option may be considered is the stock market. But, is it a safe one? Is it risk-free? Well, the stock market is not for everyone! Imagine you invested all that you saved for ten years in the stock market after working hard in a private firm and one day you wake-up and find that the stock market has crashed tremendously and you have lost every penny that you owned, you would feel dreadful, won’t you? So, if the banks are not safe, the stock market is not safe, then keeping the money at home is the only option left. But what if a thief steals it from your house? This is actually a big problem as you cannot carry all your money wherever you go!
From all the options mentioned above, banks are still the safest options amongst all and following are the reasons in favor of this statement:
- The Rate of Interest: a lot of banks in various countries keep reviving their rate of interests so that people are tempted to deposit their money in their bank accounts. There is a saying, “something is better than nothing”. Well, keeping your hard earned money at home is doing no good to you. In fact, investing it in a bank is at least giving you something in return. The rate of interest may not be that fascinating but at least you are getting tangible results in exchange. Click best-savings-rate.co.uk/ to know which bank gives you the maximum return on your investment.
- An Invisible Hiding Spot: As humans, we have a lot to remember and our tiny brain cannot store that amount of information all the time. Sometimes, the case is that we need money urgently, however, we forget which is our safest place. We fetch everywhere but cannot find the money that we hid. The great thing about hiding places is that they never appear to our mind during emergencies. As humans, we never keep a hiding spot which is easily located. We try and hide stuff that is precious to us like money, at places which even we cannot detect. And chances of turning this statement true is hundred percent.
- Your Money May Get Stolen: whenever you enter a bank, a security guard with a gun, CCTV cameras equipped building, and an emergency alarm is what you will find. The risk of getting your money stolen from a bank minimizes with such kind of a security system. However, this risk widens when the money is kept at home or carried with you wherever you travel.
In Israel, a girl gifted her mother a new mattress and replaced her old one without knowing that her mother hid dollars in the old mattress. A gift that backfired! Nothing of this sort happens when the money is safely deposited in the bank.