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How to Start Investing Early With a Savings Account?
Posted on Wednesday, September 1st, 2021 | By IndusInd Bank
When you are in your 20s, investing is not on your priority list. But, there is a reason experts advise starting as early as possible, especially when it comes to your savings! Investing early means giving your hard-earned savings enough time to grow so you can have a good sum of money when you need it.
Moreover, you can start with small, risk-free investments like when you open a savings account online. Besides giving your money a safe haven, you also earn a modest rate of return with a savings account. Here are 3 ways to earn decent and consistent returns with your savings bank account early in life.
Collect Interest on Your Monthly Deposits
With savings bank accounts, you can grow your money over time by simply depositing money in a disciplined manner. These accounts offer interest on a weekly, monthly, quarterly, or annual basis. This means your deposit grows with time.!
However, earning money is simply one half of the equation, and should be coupled with smart financial decisions. This means, by maintaining an average monthly balance in your account, you can earn even higher returns. How? Let’s see. Banks might levy a penalty for not maintaining an average monthly balance in a savings account. But, as this minimum balance is considered at every month’s end, there is no need to keep a specific amount in your account every day. So, you can easily transfer money from your savings bank account to an emergency fund, retirement corpus, or invest in a Recurring Deposit (RD), etc.
If you don’t want to maintain a minimum balance but still want to enjoy consistent returns, opt for the Indus Delite Savings Account. We levy no penalty even if you fail to maintain a balance in your account. What’s more, you enjoy exciting cashback offers, free movie tickets, and attractive deals on dining and entertainment!
Make the Most of New-Age Banking
While you can open a savings account with pretty much any institution, you can make the most of it with truly innovative banking solutions at IndusInd Bank. Be it net banking or mobile banking, we offer an unparalleled experience for the modern saver. Wherever you go, we are with you! From WhatsApp to Facebook, there truly is no platform you can’t use to bank with us. Transact, shop, pay bills, and organise your finances with our new-age savings account solutions.
Over To You
The earlier you start investing, the more wealth you build over time. With something as simple as a savings account, you can yield consistent returns while maintaining liquidity. Turn to IndusInd Bank and open a savings account online today. Experience the latest in banking with modern solutions, only at IndusInd Bank.
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
