In the past decade, availability of personal computers, increased high-speed broadband connectivity, and emphasis on faster, safer, and more convenient banking services led to new services like Internet banking. The telecom revolution has enabled people to operate their bank accounts through mobile banking and SMS banking services.
Savings accounts and term deposits are one of the best known ways to save money and earn more out of it. They are considered to be one of the safest places to store money and earn interest. The returns may not be as high as other forms of investment, but they are definitely better than having nothing.
Debit Cards give us the flexibility of not carrying too much cash wherever we go. But where transactions involve the usage of cash, we tend to use our Debit Cards quite often to withdraw cash. This is because the ATM machines may be conveniently located around us. Many of us truly depend on ATMs to withdraw money whenever needed even to meet day-to-day expenses.
Rita Ghosh was short of INR 50,000/- to complete her purchases for her wedding trousseau. Yet, she had exhausted her existing financial resources and reached well over her credit limit to fulfil her wishes. That’s when someone suggested a personal loan to make her a happy bride. Upon considering various loan options, she decided to go with her bank where she receives her monthly salary.
We have all be eager to see the budget and how it would impact our budget. With the new financial decisions doled out by the finance minister stating the impact of certain investments, there have been several questions raised over its tax implications. In today’s world arguably, the question whether to save or not does not arise as there are several who still believe in parking in their funds in liquid assets