Tax Saving FD: A better investment option for the risk averse to earn high return and save taxes

The tax-saving FD provides deductions under the Section 80C of the Income Tax Act, 1961. There are a plethora of tax-saving options in the market that can enable a customer increase savings and preserve wealth, and the tax-saving fixed deposit is one of the safest bets. While other investment options such as ELSS and mutual funds are subject to market More...

by Loknath Das | Published 3 weeks ago
By Loknath Das On Monday, March 25th, 2019
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SBI links repo rate to savings account, loans

Mumbai: In a first, State Bank of India (SBI), the country’s largest lender, has linked savings account deposit and short-term loans to an external benchmark rate—repo rate. Repo rateis the rate at which More...

By Loknath Das On Tuesday, March 12th, 2019
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Want To Open A Zero Balance Savings Account? Here Are Your Options

A BSBD or basic savings bank deposit account is a type of zero balance savings A BSBD or basic savings bank deposit account is a type of zero balance savings account and does not require customers to maintain More...

By Loknath Das On Friday, March 1st, 2019
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Zero Balance Savings Account: What you can do to avoid banks’ hefty penalty

Most salary accounts are usually zero balance accounts as there are no charges required for non-maintenance of minimum account balance. It is usually mandatory to maintain a monthly average balance (MAB) in your More...

By Loknath Das On Wednesday, February 27th, 2019
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These Post Office Saving Schemes Offer 8-8.7% Interest Rates

Four of the 9 saving schemes offered by India Post fetch interest rates of at least 8 per cent or more. India Post or Department of Posts, which runs postal services in the country, also offers banking facilities. More...

By Loknath Das On Tuesday, February 26th, 2019
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Bank Accounts: 4 reasons why you must close your idle savings accounts

Although savings accounts do not have any annual maintenance charges, their linked-debit cards mostly come with annual fees. The steady penetration of banking services has led to a large section among middle More...

By Loknath Das On Tuesday, February 19th, 2019
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Looking To Open A Zero Balance Savings Account With SBI? Here’s All You Need To Know

State Bank of India (SBI) is offering various types of savings accounts including a zero balance saving account where monthly average balance (MAB) rule is not applicable. Monthly Average Balance (MAB) is the More...

By Loknath Das On Wednesday, January 30th, 2019
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The more you spend, the more you save

Automating the money habits of people, without asking them to deviate from their preconceived notions is what’s needed today. (Unsplash) Let’s say you find saving money very difficult. Not a very unusual More...

By Loknath Das On Sunday, January 27th, 2019
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You could earn 17 times as much interest on your savings if you make one simple banking change

Online banks are leaving local banks in the dust when it comes to the interest rates offered on savings accounts. Yet many Americans have no idea. A full 62 percent of people surveyed by WalletHub last year did More...

By Loknath Das On Sunday, January 20th, 2019
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In 4 years, banks fined you more than what Vijay Mallya and Nirav Modi owe them

Of course, you have heard the name Vijay Mallya. The liquor baron who once had a majority stake in United Beverages, the face of Kingfisher Airline and Royal Challengers Bangalore, and a host of other things? Aaah! More...