Quote:
Originally Posted by HP17
I'm going to be opening up a new bank account for grad school soon. I'll be relying on student loans to finance everything. A savings account with TD Bank requires a minimum of $250 in the account to not be charged fees. The interest rate in savings accounts are ridiculously low. I just don't see much point in opening one up.
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They are savings accounts... Not investement accounts. Savings accounts are not suppose to make you more money. They are to save and protect the money you already have. That's the Point in opening one.
Banks entice people to put money in savings with interest rates but that is not the main purpose. Even if you do not make a dime on your savings, you still have the money you put in there.
Where else are you gonna save your money? It's either a bank or a shoebox basically...