Top Three Reasons to Not Keep High Balance in your Bank Account | 2024 | PrimeWealth
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Keeping a high balance in your bank account might seem safe, but it can lead to several issues. In this video, Alok explains why you should reconsider this strategy:
More Prone to Cyber Attacks: High balances make you a target for cybercriminals. Protect your money by limiting the amount kept in your account.
Bank RMs Will Upsell or Missell: Relationship Managers may pressure you into buying products that aren't in your best interest. Keeping a lower balance can help avoid this.
Increased Temptation to Spend on Wrong Assets: With a high balance, you might be tempted to invest in unsuitable assets due to market noise and hype.
Instead, consider investing in a liquid fund for better returns and safety.
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