You shouldn’t settle for interest as low as 3 to 5 per cent anymore. Today, a savings account should help you grow your money.
What is the best way to start a savings account?
How much money should you keep in your savings account?
Ask yourself, how much money are you willing to put aside?
Develop a habit and see the magic happen.
Can you save as little as Rs. 10,000?
Yes, any amount saved is a good investment. Money saved is money earned! You can then choose to invest the amount in multiple savings schemes, fixed deposits, gold, etc. Ensure that you keep increasing your savings over time and invest appropriately to make it grow.
Follow the 50-30-20 rule
All you have to do is record your expenses and club them into needs, wants, and savings.
How to open a savings account
Keep your documents handy
- Aadhaar card
- Voter ID card
- PAN Card
- Govt or Defence ID card
- Driving Licence
- Credit card statement
- Salary slip
- IT returns
- Electricity and telephone bill
- Bank account statement
But if you are saving for a specific goal, choose the right partner who will help you grow your savings.
What do you think?