Keeping money in a savings account it pays a tiny tiny amount of interest. I would not recommend it as an investment.
Saving your money isnt a form of investment because the interest earned is pretty much low, even if you compound them over for a year period then you will get the interest rate will be lower than the yearly inflation rate .
That means you are losing money each time you save them up, however atleast you are exposing your funds to a smaller risk . On the other hand there is always a safe deposits which could be consider as a form of investment, kinda combination of both saving and investing
Yes and saving in a bank is not a good option as it doesn't pay you great returns. Rather I would choose to keep my money safe in mutual funds as the returns are more than a normal interest rates of the bank and if it is market based then depending on the market will get the returns.