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Benefits of Family Grouping in Online Savings Account
Posted on Wednesday, April 24th, 2024 |
In today’s fast-paced world, managing finances efficiently while prioritising family goals can be a daunting task. However, with the advent of innovative banking solutions like family grouping in online savings accounts, financial management has become more streamlined and collaborative than ever before. In this blog, we’ll explore the transformative benefits of family grouping and shed…
Read moreWhy You Should Never Leave Your Savings Account Unused
Posted on Wednesday, April 24th, 2024 |
Your savings account is more than just a place to park your money. It’s a powerful tool for financial security, growth, and opportunity. Leaving it unused means missing out on potential benefits that could enhance your financial well-being. Let’s delve into why you should never let your savings account sit idle. 1. Opportunity Cost: Every…
Read moreUnveiling Savings and Budgeting Strategies with Your Savings Account
Posted on Wednesday, April 24th, 2024 |
In today’s fast-paced world, managing finances efficiently is crucial for achieving financial stability and meeting long-term goals. One essential tool in this journey is a savings account. However, merely having a savings account isn’t enough; it’s essential to employ effective savings and budgeting strategies to make the most of it. Let’s explore some insightful strategies…
Read moreIs it Good to Have Multiple Savings Accounts?
Posted on Wednesday, April 24th, 2024 |
A savings account serves as a safe haven for your funds, allowing you to earn interest while keeping your money easily accessible. But is it beneficial to have multiple savings accounts? Let’s explore the advantages of diversifying your savings across multiple accounts. Advantages of a Savings Account Safety: Savings accounts are insured by government agencies,…
Read moreWhat is NACH in banking?
Posted on Wednesday, April 24th, 2024 |
What is NACH? NACH’s full form is National Automated Clearing House. It is an initiative introduced by the National Payments Corporation of India (NPCI) to streamline bulk transactions among banks. It efficiently handles repetitive and periodic interbank transactions such as subsidy distribution, salary payments, pension disbursements, and dividends. NACH is a convenient platform for collecting…
Read moreWhat is Annual Percentage Yield (APY) & How it is Calculated
Posted on Wednesday, April 24th, 2024 |
Annual Percentage Yield (APY) is a percentage earned in one year on a Certificate of Deposit or a high-yield savings account. It is different from a simple interest rate as APY considers compounding. Simply put, a higher APY corresponds to greater earnings. What does APY mean? APY means compounding interest, which is earned on the…
Read moreUnderstanding eKYC: What You Need to Know
Posted on Wednesday, April 24th, 2024 |
What is eKYC? eKYC, meaning Electronic Know Your Customer, is the method employed by financial institutions to remotely authenticate the identity of customers without the need for physical documents or in-person visits. This process involves using digital documents, biometric authentication, and government databases to confirm the identity of individuals opening bank accounts or accessing financial…
Read morePlan Your Summer Holidays with Your Savings Account
Posted on Tuesday, March 26th, 2024 |
As the days get longer and the temperatures rise, it’s a sure sign that summer is just around the corner. And with summer comes the anticipation of vacations, whether it’s a relaxing beach getaway, an adventurous road trip, or exploring new cities. While planning your summer adventures, it’s essential to make the most of your…
Read moreBuilding Saving Discipline with Online Savings Account
Posted on Thursday, March 21st, 2024 |
In today’s ever-evolving financial landscape, managing your finances efficiently is key to achieving your financial goals. One essential aspect of financial management is cultivating a robust savings habit. With the advent of online banking, saving money has become more convenient and accessible than ever before. In this blog, we’ll explore how you can leverage online…
Read moreImportance of Tax Planning in Building Long-Term Wealth and Maximising Savings
Posted on Tuesday, March 19th, 2024 |
Planning your taxes effectively holds immense significance in personal finance. While most people focus on planning their finances and investments, an effective tax planning strategy can help you optimise your tax liability to save more, especially in the long term. In India, yearly updates on tax regulations make tax planning an important aspect of building…
Read moreEmpower Your Child: Opening A Minor Savings Account Online
Posted on Tuesday, March 19th, 2024 |
Minor Savings Accounts are a simple and hands-on way to develop good money habits in children between the ages of 10 and 18 or legal adulthood within India. Such good money habits form the base for a healthy relationship with money that can improve your child’s quality of life. The goal behind offering minor savings…
Read moreIs There a Difference in Interest Rates Between Savings Accounts?
Posted on Tuesday, March 19th, 2024 |
Banks provide different types of savings accounts with high interest rates and easy access to cater to the needs of their customers. IndusInd offers online savings account openings that are paperless and provide ease to customers and flexibility in choosing their account numbers. Let us see what interest in the savings account is. The interest…
Read moreDiscover How to Transform Your Savings Account into a Salary Account
Posted on Tuesday, March 19th, 2024 |
A savings account is a basic deposit account that most individuals have. So, if you have just landed yourself a job, you must be wondering if you will need a new salary account or can your savings account be converted to a salary account. Well, there are multiple benefits to converting your savings account to…
Read moreA Quick Guide to High-Yield Savings Accounts
Posted on Tuesday, March 19th, 2024 |
Have you ever wished your savings could work harder for you? That’s where high-yield savings accounts swoop in to save the day. The key allure lies in the ‘high yield’ aspect, suggesting that these accounts provide a more rewarding return on your savings than standard savings accounts. So, if you’re keen on maximising your savings…
Read moreOverdraft Against A Fixed Deposit – Better Than Closing It
Posted on Friday, February 23rd, 2024 |
In times of sudden financial need, individuals often resort to withdrawing their savings and investments, including Fixed Deposits (FDs), which can result in significant losses due to premature withdrawal penalties and loss of interest earnings. This dilemma poses a challenge for those seeking immediate liquidity without sacrificing their investment returns. What is an overdraft against…
Read moreHow Can Nominee Claim a Fixed Deposit After Holder’s Death
Posted on Friday, February 23rd, 2024 |
When we talk about planning our finances, we usually focus on making more money, keeping risks low, and securing what we own for the future. But sometimes, we forget about something important – what happens when the person who owns the account passes away. Dealing with the passing of a loved one is difficult, and…
Read moreFixed Deposit for Minor – Process to Open Minor FD Account
Posted on Friday, February 23rd, 2024 |
Securing a child’s future is the parents’ responsibility. It involves thoughtful planning, strategic investments, and a commitment to providing a solid financial foundation for their lives. Opening a fixed deposit account for minors allows you to systematically save money for significant milestones like education, career or marriage. Fixed deposit for children helps in shaping their…
Read moreWhy Do Senior Citizens Need Tax Saving Fixed Deposit
Posted on Friday, February 23rd, 2024 |
A peaceful retirement plan for senior citizens is vital for ensuring a fulfilling and stress-free post-career life. Such retirement depends on a sound financial plan, with several critical considerations for senior citizens. To start, establishing a budget that aligns with post-retirement needs is essential. This involves calculating daily living expenses and ensuring a comfortable standard…
Read moreCumulative Deposit – What Is Cumulative Fixed Deposit
Posted on Friday, February 23rd, 2024 |
A fixed deposit (FD) is a financial tool wherein an individual invests a lump sum amount with a bank or financial institution for a predetermined duration. The rate of interest remains constant throughout the tenure. At the end of the tenure, the total amount the depositor receives is the sum of the principal and the…
Read moreDifferent Types of Fixed Deposits
Posted on Friday, February 23rd, 2024 |
In today’s complex investment landscape, security is paramount. Many seek a safe yet growth-oriented option for their savings. Fixed Deposits (FDs) provide a solution to this dilemma, offering stable returns without market volatility. This blog explores different types of FDs and why FDs are a smart choice for those prioritising security and growth. Different Types…
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