Wednesday, March 24, 2010

Savings - Is it worth while for us to save in Banks?

Today I check on the Internet how much interest I will get if I save some money in the Bank

One of the Large Bank quote the following in there website

Saving Accounts 0.20%
Fix Deposit 2.20% (one month) to 3.55% (60 months)

RM1000.00 in Saving account = RM2 interest, Need RM4000.oo in Saving account to pay for the RM8 ATM card annual fee. How many ppl have that much money in the Saving Account?

Well at this rate I better check Unit Trust, but then the stock market is high and being consolidated, so that is not much of a option as well. Buy Low and sell high.

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