Savings bank accounts are typically used by salaried professionals, and allow limited transactions when compared with current accounts. Individuals receive modest interest on their deposits. More
The higher balances that you are willing to maintain, the better services you will get.
Large banks, both government-owned and from the private sector, give far lower interest rates to depositors. But some banks, especially smaller or newer ones, pay a higher interest rate on your balances in order to attract new business into banks.
Some banks, especially smaller or newer ones, pay a higher interest rate on your balances
A savings account is an enabler when it comes to the world of investment
If a debtor failed to settle the loan dues despite reminders from the bank, then the money could be recovered from his savings bank account, ruled the Madras High Court bench
Liquid funds pose an opportunity to individuals, looking to park their funds for short time periods. However, do not select the fund that tops the charts.
Summarised below are the short-term and long-term financial investment options available for Indian investors.
BankBazaar.com explains the balance maintained by an individual in their savings bank accounts earn an interest. Before RBI deregulated the savings bank interest rate regime, all banks offered 4% p.a. Post this in 2011, banks were allowed to decide the interest rate they wanted to pay on savings bank accounts
All of us build our contingency reserves and keep it in our locker or savings bank. Along with maintaining liquidity, it is also possible to earn a higher rate of interest on our deposits in savings account. Here are the 2 options that can help you earn a higher rate of interest on your money lying idle in your savings account.
RBI's deregulation drive on saving interest rates has created a competitive environment across banks in an effort to retain and capture a loyal customer base. Read this article to understand how savings rate work in current scenario.
Summarised below are the short-term and long-term financial investment options available for Indian investors.