Question

Give three reasons why everyone should be banked, preferably with a large bank.

Answer 1

The many conservative peoples are prefered their money parked into the bank, especially in state owned larger bank.

There are many reasons for their money held with bank, out of which the first three prime reasons are as follows:

1. Money held with bank because of SAFETY than it invested in any other financial instruments except Government treasury bill.

2. Money held with bank because of LIQUIDITY: If money with bank it is very high level liquidity than any other instruments including treasury bills.

3. Convenient and cheaper cost of investment: Now a days operating a bank account through digital/internet is very convenient for the operators and it is cheaper cost of investment than any other instruments.