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Importance of Savings - Where To Save

Saving money in a bank account is important and provides benefits like interest earnings, transparency through account passbooks, and potential loan eligibility. There are several savings options at banks including regular savings accounts that offer up to 4% annual interest, recurring deposit accounts for consistent monthly deposits with interest up to 8.5%, and fixed deposit accounts that require keeping funds for a fixed time but pay higher interest of at least 9%.

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109 views2 pages

Importance of Savings - Where To Save

Saving money in a bank account is important and provides benefits like interest earnings, transparency through account passbooks, and potential loan eligibility. There are several savings options at banks including regular savings accounts that offer up to 4% annual interest, recurring deposit accounts for consistent monthly deposits with interest up to 8.5%, and fixed deposit accounts that require keeping funds for a fixed time but pay higher interest of at least 9%.

Uploaded by

ykbharti101
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Importance of Savings – Where to Save?

Savings in Bank account!


Keeping money in the bank is the most sensible thing to do. There are several
ways to keep money in the bank:
Transparency - The account of the money held in your account is written
in the passbook received from the bank

Interest - Savings increase due to interest on the saved savings.

Loans - If you save well and keep the account active, you can get loans
under Overdraft, Kisan Credit Card and General Credit Card.
Importance of Savings – Where to Save?
Savings in Bank account!

• 4% annual interest rates • For regular saving


• Free Deposits • Deposit a constant
• Free Withdrawals amount every month
• Interest rate of up to
8.5%
Savings Recurring
Deposit Deposit
Account Acc

Fixed
Digital
Deposit
Payments
Acc
• Deposit amount for fixed time • Regular digital
• Attracted interest of 9% At least
payments attracts
6 months additional offers like
Loans and Overdraft
facility

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