Sep
10
Problem with Banks as an Investment
Filed Under Banking, Investments
Banks are considered monetary castles where your money is safe as a house. They do much client reading before even opening an account and thee is a feeling of assurance with banks. Many thus like to invest in and with banks. But due to this assurance factor, there are a few accumulated problems.
• There might be strict rules in case the client and his nominee suddenly die.
• The rate of investment is often at a below par level than with other investments.
• There is just too much paperwork and you have to keep updated monthly.
• Once locked in an investment, it is harmful to get out of it. The client stands to lose big money.
• If there is any fraud on the part of the client, he automatically gets blacklisted.
• You get paltry dividends in the interim periods and often feel that you might have put the money somewhere else. But yes, safety is guaranteed.
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