Why have a Bank Account?

In this video, Jamal discusses a conversation with Malik about saving money. Malik wants to save for a video game console but forgets where he hid his money. Jamal suggests getting a bank account and explains the differences between current and savings accounts. He elaborates on the concept of interest, likening it to renting a bike. Malik learns about the benefits of savings accounts and decides to open one. He eventually remembers where he hid his money, resolving the issue.

How does interest work in relation to savings accounts?

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What is the difference between a savings account and a current account?

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What humorous solution did Malik come up with for hiding his money?

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