| Most of the people prefer to put extra money in a | | | | when you keep your money for a long time with the |
| bank account when they start making money. This is | | | | bank, the bank also shares a certain part of the |
| the most prudent thing that you can do with the | | | | profit earned by the investment it made with your |
| extra money you have. Putting your extra money | | | | money. This part of profit is termed as interest. Most |
| into a bank account carries a plethora of advantages. | | | | of the banks fix a certain percentage of interest. |
| The banks not only provides you an easy and secure | | | | Again, when you put extra money in the bank, the |
| way to store your money, but you also get | | | | interest is charged after a fixed period of time. Some |
| increments in your saved money from time to time in | | | | banks prefer to offer interest annually, while other |
| the form of interest. | | | | banks credit the amount of interest half-yearly, |
| Actually, when you put extra money in the bank, the | | | | quarterly, or even monthly. However, this period also |
| money goes to a huge pool of funds provided by | | | | depends on the type of the account you own. There |
| the thousands of existing customers of the bank. | | | | are various types of accounts you can choose from, |
| The bank keeps a portion of this money as deposit | | | | such as checking account, savings account, current |
| and invests the rest of the funds in various financial | | | | account, and fixed deposit account. You should put |
| ventures. This way, whenever you require some | | | | your extra money in the bank, but at the same time, |
| money, you can withdraw it from your deposit. Also, | | | | you should choose your options prudently. |