Jasmine
VIP Contributor
For a lot of people saving money means saving money in interest bearing bank accounts. Depending on their country’s policy, banks’ interest they can receive 1-5 percent interest in saving accounts. Fixed deposit account is better than a normal saving account because you can receive better interest rates but you need to lock your funds for certain time period.
Security Bonds: Security bonds are issued by the central banks or any other government instructions and provide a good interest rates on security deposits. This is better than saving in commercial banks.
Government’s Treasury Bills: This are bills are issued by government and public can buy for minimum 12 months period and receive return on investment.
Mutual Funds: Return on investment on mutual funds is better than saving in banks, even the fixed deposit accounts, and less riskier than investing in the stock market.
Gold: When you save money in banks the value of money can go down due to inflation, however, gold can b a better option.
Security Bonds: Security bonds are issued by the central banks or any other government instructions and provide a good interest rates on security deposits. This is better than saving in commercial banks.
Government’s Treasury Bills: This are bills are issued by government and public can buy for minimum 12 months period and receive return on investment.
Mutual Funds: Return on investment on mutual funds is better than saving in banks, even the fixed deposit accounts, and less riskier than investing in the stock market.
Gold: When you save money in banks the value of money can go down due to inflation, however, gold can b a better option.