While a salary account is a type of savings account, certain aspects make it different from its parent (savings A/c). Thus, compare the features and benefits of both types well before closing your salary account or converting it into a savings account.
What is a zero balance savings account? A Zero Balance Savings Account is a type of account where you are not required to maintain a minimum balance, i.e. your account balance can go down to Rs. 0 and it won’t attract any penalties. It is one of the most difficult tasks to maintain a minimum…
State Bank of India has waived off the requirement of maintenance of Average Monthly Balance (AMB) for all Savings Bank Accounts. The bank has also decided to reduce the interest rate on the savings account to 3 percent per annum, irrespective of the amount deposited by the account holder. Further, SBI has also waived SMS…
Savings accounts are a great way to save funds for the future. Modern savings accounts are feature-packed and offer quick links to pay bills, make instant transactions, etc. to the account holder as soon as he/she logs in to the account. Various banks offer different savings accounts to fulfill the needs and requirements of their…
Your ideal savings bank account should offer good interest rates, flexibility in deposit and withdrawal, areasonable minimum balance mandate in the account, personalised services and overall convenience. You chosen bank savings account should also ensure the following: Safety of your money Prompt andexcellent customer service/support Internet Banking Mobile Banking Phone Banking Substantial number of […]
