This is done to attract new customers to the banks
You have the right to withdraw the entire funds any time and can maintain zero balance in this basic savings account
You need to provide your Aadhaar number for the process to be successful
Some of the relief measures announced for bank customers earlier will now be slowly rolled back
Events and accidents are almost certain to happen. To ensure that the impact is limited to a small part, diversify
This account is to be opened with the primary intention of educating children about the importance of saving and investing
Banks levy these account closure charges from customers to recover the costs incurred in opening accounts and issuing cheque books and debit cards
Payments banks are aimed at widening penetration of financial services by bringing rural India into the formal banking system.
State Bank of India‘s proposal to charge customers for cash transactions and penalize them when they don‘t maintain a minimum balance will subsidise financial inclusion accounts including those under Prime Minister‘s Jan Dhan Yojna (PMJDY), the bank‘s chairman Arundhati Bhattacharya said on Wednesday.
If you do not maintain monthly average balance (MAB) in your savings account then be ready to pay hefty fines that could go up to Rs 600.
State Bank of India has decided to increase manifold the minimum balance required for maintaining savings account from April 1, hitting 31 crore depositors including pensioners and students.
Morgan Stanley feels that Axis may have seen interest based on its strong retail deposit franchise, which make up for almost 80 percent of its funding. However, it has also highlighted concerns on the bank's profitability based on its NPAs.
The ministry had yesterday said that Rs 500 and 1,000 rupee notes cannot be used for making deposits in small savings schemes.
As per a notification issued today, banks, co-operative banks and post offices will have to report to the tax department cash deposits exceeding Rs 50,000 in a single day or aggregating to more than Rs 2.5 lakh during the period November 9, to December 30, 2016.
Do not forget to change your mailing address with your old salary account. Also check all the charges associated with the salary account which is to be converted into a saving bank account.
The interest rate for resident and non-resident savings account has been revised from 7 percent to 6 percent with effect from November 1, Yes Bank said in a statement.
Private sector lender Federal Bank today launched a premium savings account which has overdraft facility for high-end salary earners.
Kripananda Chidambaram of fintotal.com explains the consequences of breaking your financial commitments. The norms of having minimum balance in savings account should be followed, the author emphasizes.
PV Subramanyan emphasises on the importance of retirement planning and how one needs to start really early on in their lives to plan towards a wealthy retirement.
After announcing ICICI Bank's quarterly results to the press, MD and CEO Chanda Kochhar explains on CNBC-TV18 that the bank expects no negative surprise from the infrastructure sector. Kochhar adds that the bank has placed current focus on the savings-account customer by launching a programme that rewards every savings-account transaction.
In the current uncertain financial condition, investors are often perplexed on investments which will earn them good returns. Financial advisor Jitendra Solanki lists out various avenues available today in the fixed income space will help investors to earn that extra return without impacting their financial objective.
Private sector lender ING Vysya Bank is eying for a higher pie of retail business in 2012-13. Of late, the bank has also started considering a hike in savings deposit rate. The lender on Thursday launched a multi currency forex travel card christened as Visa Platinum multi-currency card here in Mumbai.
Bank of India is unlikely to see increase in provisions in Q3 sequentially, said the Executive Director N Seshadri. He also indicated that the bank had seen the worst of NPA situation so far. Moreover, he expects improvement in NIMs sequentially.
There have been many developments in the recent past that are likely to impact our personal finances. It would be prudent to be aware of these and make appropriate changes, if required.
Immediately after the Reserve Bank of India (RBI) de-regulated savings rate, private sector lender Yes Bank was the first one to hike its savings deposit rate by 200 basis points to 6%. Its peer banks Kotak Mahindra Bank and IndusInd Bank joined the bandwagon in the next two days. So, are you planning to shift your savings account?