A Fixed Deposit is a wonderful way to keep some money saved with a higher interest rate than keeping the money in a regular savings account. Opening a Fixed deposit account is also a sign of a good savings habit. It is because you safeguard a particular amount of money that you don’t intend to use for a while in a FD account. This means, you don’t withdraw that money for … [Read more...] about What are the types of Fixed deposit accounts available in India
Deposit Accounts
How to open FD and RD accounts using SBI YONO app?
Fixed deposit (FD) and Recurring deposit (RD) are one of the most commonly used savings options by people in India. If you have a lump sum amount with you and if you don't need that cash for a while, you can deposit that amount in a FD rather than having it in your savings bank account. This way, your money will fetch higher interest. Similarly, by opening a RD … [Read more...] about How to open FD and RD accounts using SBI YONO app?
Covid-19: Banking tips for times of pandemic like Coronavirus
The world is hit very badly by the novel Coronavirus infection. People are dying. Many are in isolation. And the economy is very badly hit too. While in many sectors, people are advised to work from home with offices closed, banking is one sector that cannot implement this so far. Closing down banks will cause serious damage and chaos among people and hence banks … [Read more...] about Covid-19: Banking tips for times of pandemic like Coronavirus
What are the types of Bank Accounts in India (Features and benefits)
We are more and more into digital transactions. We want comfort. More than going to the bank physically, we all prefer some sort of digital option to perform certain banking tasks. Banks are improvising in this direction and hence most banks have their official apps so customers can use them to perform basic banking tasks. In addition, having a bank account has become … [Read more...] about What are the types of Bank Accounts in India (Features and benefits)
Procedure to transfer your PPF account to another branch, bank or post office without losing benefits
A PPF account is a wonderful opportunity to save money. Not just that, with a PPF account you can save money AND enjoy tax benefits. A PPF account can be opened with as little as Rs. 100. Every year you can deposit a minimum of Rs. 500 to a maximum of Rs. 1,50,000 in a PPF account. The amount you invest in a PPF can be deducted in the taxable income for that financial … [Read more...] about Procedure to transfer your PPF account to another branch, bank or post office without losing benefits