SAVING ACCOUNT AND ITS BENEFITS

SAVING ACCOUNT AND ITS BENEFITS

SAVING ACCOUNT

Most popular deposit accounts for individuals in India is saving account which provide cheque  facility ,deposits and withdrawal of funds from the account. Banks issue debit card, credit card for the same account and one can use it for withdrawal money from banks. There is  limits for withdrawal from ATM

Like if you have SBI account you can withdraw through ATM only 5 times in a month if u go beyond this then there is charges of Rs 20 on every transaction.(penalty on  transact more than five times a month at your own bank’s ATM.)

KNOW HOW MUCH YOU CAN WITHDRAW AND WHAT ARE CHARGES

And from other bank ATM withdrawal there is only three transaction is free and if you go beyond this limit there is charges on every transaction of Rs 20. 

SAVING ACCOUNT AND ITS BENEFITS

 Benefits Of Saving Account

1.    There is so many benefits of saving accounts as it can be used to deposit as much as you want to deposit in the bank.

2.    There is no limit on withdrawal of amount from saving accounts you can withdraw from Rs 1 to as much as you can (just have to submit pan caRD transaction above 50000)

3.    You get interest on the saving accounts at 4% or 5% as per banks.

4.    If your saving amount goes up 100000 there is different rate of interest on the saving (basically in the private banks)