Banking can be defined as actions that are geared towards your finances. With banking, you transact with banks for various things like deposits, savings, payments, loans and just about anything that is related to your finances. In the old days, any transactions that you have, no matter how small, you have to go to the bank to get it sorted. This means you have to travel, fall in line, do your thing and back. Today, you don’t have to thanks to online banking. Sure there are still things that only physical banks can do but for the most part, online banking should serve you well.
But before you even talk about banking, you should think about opening an account first. As you all know by now, opening an account is very personal and today there are already a ton of options for you to open a bank account based on your needs. You see, there are various promotions that are in the various bank accounts and that can be used to your advantage. If you wish to know more about them, then you better read further.
Opening an account: The purpose of opening an account is for savings, that’s already a given. What’s not a given is the specifics of it and even the promotions in each account. Unlike other promotions, bank promotions in opening an account are always taken lightly into consideration, but you should know that it can make your banking experience very positive. Take the offerings of OCBC bank for example:
- 360 Account – You can earn higher interests every time you spend, pay bills and do deposit with an interest rate that is up to 4.10%
- Booster Account – Gives you a boost with your savings by combining your wealth bonus of 1.20% with the base interest of 3.25%, which gives you a total of 4.45% interest.
- Fixed deposit: If you plan to have a more consistent savings plan, a fixed deposit savings account will serve you well and OCBC fixed deposit offers a 4.20% interest rate.
Why open a bank account anyway? A bank account is considered as an investment, an investment for the future. Sure, there are many ways to invest your finances in, but why put it in banks anyway? Its because the concept of banking is simplified. All people know how to transact in banks and all people know what you should do in the bank. It’s your security for the future, for the storm and for the unpredictable things that can happen that will require shelling out some money. People will always tell you about financial freedom, and banking plays a big role in that. Not to mention, banks are safe institutions to place your money safely no matter how small they are.
Having a savings is a must, it doesn’t just determine your social and financial status, but also it helps you have a more stability life. Your money is your buffer to your worldly expenses. Although you can’t take that in the afterlife, you do need it to survive the current one. This Is why savings is important and if you’re in the topic of financial freedom, savings should be in your mind. If you’re looking right now to open a savings account, visit here for the latest bank promotions.