Savings Account

A dormant or inoperative account is not a lost account. Whether the account has been unused for two years or the deposit has remained unclaimed for a decade, RBI's framework provides a route for the rightful account holder or beneficiary to recover the money.

A software engineer saved ₹15 lakh but lost purchasing power due to low savings interest. Advised by a financial planner, he allocated funds effectively, setting goals for emergencies, a house, and retirement. His experience highlights how inaction can be a financial decision.

The Kotak811 Zero Balance Savings Account offers a digital banking experience without a minimum balance requirement after activation, requiring only an initial funding of ₹2,000. It supports UPI and provides a virtual debit card for seamless online transactions.

Want to turn ₹50,000 into ₹1 lakh? Compare KVP, PPF, SCSS, Sukanya Samriddhi and NSC interest rates, doubling periods, eligibility, tax treatment and lock-ins to identify which small savings scheme best suits your financial goal.

Many salaried people are financially strained at month-end, highlighting the need for better spending habits. Experts recommend having three bank accounts for budgeting purposes: one for daily expenses, one for emergencies, and one for investments, but caution about risks like minimum balance fees.

India Post RPLI elibility expanded: The change is aimed at helping policyholders who move from rural to urban areas maintain their insurance by enabling them to pay premiums through a savings account with any scheduled bank.

Frozen bank account access can disrupt daily finances. Understand common reasons, required documents, timelines, and practical steps to unfreeze a bank account quickly and avoid future account restrictions.

Smart emergency fund planning strengthens financial stability as experts explain emergency fund in FD or savings account strategy balancing liquidity, returns, tax efficiency, FDs, savings accounts and arbitrage options.

Emergency funds are essential for financial planning, acting as a buffer for unexpected expenses. A savings account is ideal for these funds, offering security, accessibility, and interest.

An emergency fund should be easily accessible and low-risk. You will have to allocate your funds such that they can be liquidated for immediate needs while giving optimal returns without compromising safety.