Page 23 - 2019 SK T5 English

Reading
Let’s read and answer.

Jasleen’s cousin, Ranbir likes to spend his money on unnecessary things.
Jasleen talks to him on how to open a bank account.

Ranbir : Hi Jas, do you think I can open a bank account? I’m only
nine years old.
Jasleen : Sure you can, Ranbir. You can even have an account when
you’re a baby! It’s called the ‘children savings account’.
You can open a ‘student banking account’ when you are
12 years old.
Ranbir : Do I have to pay to open an account, Jas?
Jasleen : Emm…no, you don’t have to. You only have to put some
money in your account to get started.
Ranbir : Will I get anything for keeping my money in the bank?
Jasleen : Yes, you will get ‘interest’ or ‘profit’. It is the extra money the
bank will give you for keeping money in their bank.
Ranbir : Wow! That’s wonderful. You mean the more I save, the more
profit I get?
Jasleen : Yes, Ranbir. Start saving and stop spending your money on
unnecessary things. Remember, the safest place to keep your
money is in the bank. Good luck!
Ranbir : Okay, I will. Thanks a lot, Jasleen.

State True or False.

1. You have to pay to open a bank account.
2. A ‘student banking account’ is only for those below 12 years old.
3. Your parents can save money in your account when you are a baby.
4. Interest is the extra money you get when you save in a bank.
5. Only a few people can open a bank account.
6. You will get more interest when you save for a longer time.

List the things you can do to earn extra money.
Example: I collect and sell plastic bottles for recycling.

14

2.2.2(a), 2.3.1(b)