Choose A Saving Account

Screen Shot 2016-08-24 at 15.00.14Every person that you see in this world is running before one thing. That one special thing is money. Few people are able to catch it quickly while some are making a lot of effort to earn a little part of it. Everyone wants to earn more and more, and so in desperate need of this money, people want to save more and in return they also want something. To earn more, people put their money in danger rather than saving it in a secure place like My Loan Singapore. Everyone knows that these schemes are a great risk for the money, but still people invest in them in greed to take all the money. But most of the people are not aware of the best deals and other options despite these risky schemes. You can also use the personal loans offered by My Loan to increase the credit score and saving money. Let’s have a look at the complete details of other options to save and secure your money.

  • Instant Access Saving Account:

In the world of massive wars, no one is aware of the happenings of even tomorrow, so everyone should save money for the future. But what if you have saved a large amount of money for your future, but you can’t access it at the time of need. Yes, this can happen too! Instant access saving account, as the name indicates, you can have access to this account anytime and instantly. As it is your account and your all the savings, so it is your complete right to access it whenever you want. So withdraw the money as much as you can without fearing for the deduction of charges.

  • Individual Saving Account:

This type of saving account offers you to save a fixed amount of money every year into your account. Whatever is the return of the account, it will be completely tax-free. These accounts deduct a small amount of tax but it is only the base tax. But as you know that everything has two sides: Pros & Cons. So, you must know all the cons with the pros. These bank accounts charge a little amount of tax as well when you withdraw the money. This account is an easy access to the fixed rates so you can use this type of account if you don’t want to withdraw your money every year and you want to use it for future use.

  • Regular Saving Account:

If you have not used a saving account before, then you must use it now. But make sure that you know all the things about it. The regular saving account is the best one to start money as it is the most simple to use account and you have to make a deposit on a monthly basis. But due to some strict regulations, you are not able to withdraw money from this account. If you want to, then you have to pass through various barriers. Moreover, you have to make an investment every month as these types of accounts are based on the regular savings of the person depending upon his salary.

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