Category: Savings Account

The first step for every individual into the banking system is savings account. It is used to deposit, withdraw and carry out other banking transactions. A savings account is used not only to save your hard earned money, transfer funds, withdraw money but it also earns you interest on your savings. Savings account is essential...

Savings Account has been the primary investment option for all the investors. Individuals who are earning a steady income by way of salary or any other source are the perfect contender for a savings account. The first step towards saving and investment is keeping your funds in a savings account. An online savings account comes…

The primary objective of savings accounts is to help you in earning interests on your savings. Various banks offer different rates of interest for a range of savings accounts. However, there are a lot other things that you can do using your savings account. Nowadays, you can open savings account, get your KYC done and...

People having their savings accounts in various banks have to maintain a certain sum of money in their bank accounts. When this account balance falls below the required threshold amount, the bank levies a penalty on the account holder for failing to meet the requirements. If you also find it difficult to maintain the required minimum balance…

The moment adulthood strikes and we start earning to balance our needs and wants, the first thing we do is to open a savings bank account for ourselves to keep all our hard earned money safe. While this applies to those who are earning, the savings for kids is usually done by parents. Parents who...

Do you carry a number of debit cards with you and forget your card’s PIN while making transactions like during shopping or at restaurants too often? Gone are those days when you had to enter your ATM PIN for making even a small transaction. Visa and MasterCard have introduced payWave and PayPass respectively, the new...

On Nov 7, 2017, the State Bank of India tweeted the launch of two savings accounts (Pehli Udaan and Pehla Kadam) for children. Pehla Kadam is meant for children below 18 years of age and Pehli Udaan will be for to children above 10 years of age.   The aim behind launching the savings accounts […]

To promote digital economy, HDFC bank has made RTGS and NEFT transactions free of cost and cheque-related transactions costly. The bank has revised RTGS and NEFT online transactions fees and charges for savings, salary and non-resident accounts. As per the bank, nothing will be charged from customers for RTGS and NEFT online transactions from November […]

As per an NDTV.com article, the Cheque books of the State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Raipur, State Bank of Travancore, State Bank of Hyderabad and Bhartiya Mahila Bank now stand invalid. After the merger of these six banks with the State Bank of India (SBI) in April […]

The State Bank of India (SBI) has announced a waiver of account closing charges for savings accounts that are at least a year old according to a Business Today (BT) news report. This announcement comes only a few days after India’s largest public sector bank announced a revision of the minimum balance requirements for savings […]