How to ensure the safety of your savings?


Everyone who has financial surpluses in their budget at some point begins to wonder how to multiply the accumulated cash. Unfortunately, this approach can be risky if we do not think carefully about our decision. It is therefore worth learning about safe methods of saving.

On the market, we can find many instruments that are used to multiply your money. Undoubtedly, the most popular are term deposits and savings accounts. These products are easily available and, moreover, they are completely safe. The Bank Guarantee Fund protects up to 100,000 euro of our funds on savings deposits.

In March this year, the Monetary Policy Council significantly lowered interest rates, so the current interest rate on savings products is not entirely satisfactory. On the other hand, banks, in order to attract customers, offer us promotional offers that are very similar to those before the reduction in interest rates. It is therefore worth taking a closer look at the most popular savings products.

Bank deposits

If we pay cash to a bank deposit and do not terminate the contract early, we are sure that we will earn. A bank deposit is an ideal solution for people who expect profits and can afford to freeze cash for a specified period of time. You can open a short-term deposit – for a few weeks or months, or a long-term – for a year, two or several years. As you know, the longer our finances are in the bank account, the higher interest we can expect. The current interest rates can be found in the current deposit ranking on

Savings accounts

However, if we care about both earnings and the liquidity of our finances, it is worth considering savings accounts. Opening a savings account enables us to withdraw money at any time without losing any earned interest. However, it is not worth treating the savings account as our current account. Banks usually set the number of free transactions on savings accounts, so by systematically withdrawing money for current needs, you can pay more commission than you earn on interest. A savings account should therefore only be viewed as a place to keep money for the future and only withdrawn when there is a real need.

It is worth having security in the form of finances for our future, so we must also reasonably think about the safest way to multiply them. Currently, we find a lot of financial products, while some of them carry a high risk of no profit or even loss. Therefore, let’s not make decisions rashly and let’s carefully analyze the safest methods of multiplying cash by saving.


Leave a Reply