Do you think putting your money in the Bank is the Safest way?
By ajinomoto23
@ajinomoto23 (1057)
Philippines
February 25, 2007 8:33pm CST
Where else should we put our money if not in the bank? Some lending activity in the Bank are not successful. Many loans becomes bad debts. Do you know if your bank is secure?
5 responses
@mudpie (79)
• Philippines
26 Feb 07
i think if it's not a lot, banks would still be safest way to keep you're money. the lowest the interest, the more secured you would be i think because they would be the commercial banks or development banks. but those with high rates would be more unpredictable, the rural banks, since that's mostly the first to go bankrupt. although all banks have insurance in them. up to Php250,000 here in the Philippines or around $5k.
@suren2k6cse (2621)
• India
26 Feb 07
i think putting money on ban will be a saving for the person. it will help the government on many ways.
if we put the money for a long time it will help us on very important aspects to escape from the problem.
@rosettaresearch (1285)
• United States
26 Feb 07
If you live in the United States, banks are insured. Individual accounts are insured up to $100,000. This is because during the Depression, lots of little people lost all their life savings when the banks failed. Now, if banks fail because of bad loan decisions, the individual depositor will not lose their money. Banks are the safest place to put your money.
@mipen2006 (5528)
• Australia
26 Feb 07
It depends on how much money you're refering to. If you have a lot to invest you should seek a financial adviser. I think a little in the bank for easy access is essential.