It is common practice to quickly head to the nearest branch of your bank to deposit that hard earned money after the daily, weekly or even monthly payment drops. Why not? After all, you have been told that if you keep the money the next hour a lot of things that catch your fancy would grab the money away from you, or perhaps armed robbers could break into your home and take the money from you.
But wait, is there any chance that this could be lie? Can I actually keep this money with me without being tempted to use a little from it, after all what am I working for?
Do you want to know the TRUTH?
Everything you have been told about keeping your money with you for a long time is true except running to the nearest branch of your bank to deposit it in the name of saving it. Hmmm… Something going through your mind now.
>>> “Wait! Do you mean I should stop saving my money in the bank?”
>>> “So what should I do, since I should neither keep it at home nor deposit it in my savings account?”
Before I tell you what to do with your money as soon as you receive it, let me ask you,
what do you think the persons or institutions like banks you give your money to keep for you do with your money? Let me guess
>>>> They keep it for you till when you need it.
>>>> They invest it, make more money with it, keep the profit and give you back your money.
>>>> What about depositing N100,000. You withdrew N20,000 the first day, Transfer N30,000 another day, What will be left? I know you will quickly tell me N50,000 will still be left in your account.
This is where we get it wrong. Do you think banks save your money for you free of charge? You cannot save money in your bank, then withdraw from it once or twice and come back to meet the exact same balance that you expect to be there. You definitely have to pay for the services rendered to you.
Let me tell you some of the few things banks do with your money when you deposit it into your bank account.
Your bank could pool your money with other persons who also deposited into their accounts together and loan it to someone or persons for a huge return.
They can also invest the money in foreign exchange (FOREX) market, real estate etc, When you come for your money, they give you your money and keep their huge profit.
You might probably ask, “but is anything wrong with that, as long as they give me my money complete?” You are very right, there is actually nothing wrong with this except that you chose to let your money work for the bank while you remain stagnant.
Do you know you can share from the profit of any business your bank invests your money in?
Yes you can, In this post I shall list some ways you can make more money with your money through your bank, yes through your bank. I shall be updating this page when new opportunity comes up so like us on facebook, follow us on twitter and bookmark the website to get updated with so much endless ideas you can invest your money through your bank instead of just saving your money in your savings account.
So Let Get Started.
Different banks go by different names for their investment banking. We shall be exploring them and I encourage you to help us grow the list by telling us about your experience.
A fixed deposit (FD) is a financial instrument provided by banks which provides investors a higher interest rate than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account
Fixed deposit is the most popular of all the investment banking and this is done by all banks. The minimum period for a fixed deposit is 30 days. Kindly visit any of your bank branches to inquire about their fixed deposit and their interest rate.
Remember guy, the list will continue because I believe all banks have theirs. So are you currently enjoying any investment banking from your bank? Please share your experience in the comment box below