Tag: savings account

Interest from NRE account is exempt from tax

I live in the UK and hold a British passport. I have NRE accounts with savings of ₹50 lakh, on which I get interest. Do...

ICICI Bank Q2 takeaways: Record profit, prudent provisioning & more

NEW DELHI: A record net profit, an improvement in asset quality, a fall in sequential provisioning, recovery in disbursements to pre-Covid levels, soft NIM and...

As interest rates head south, it may be time to shift your savings bank account

For instance, the State Bank of India offers 2.7% on savings accounts and ICICI Bank offers 3% on savings accounts (3.5% on balances more than...

Six money ratios you should have at your fingertips

Striking a balance between not doing enough and doing too much is tough for money, as it is with relationships. Do too little and a...

How to tackle under-penetration and protection gap of insurance in India

Statistics about insurance in India don’t make for happy reading. According to the Insurance Regulatory Development Authority of India’s (Irdai) latest annual report, dated December...

Three ways to put your WFH savings to good use

Jasdeep Singh Toor, 38, who works as a network architect in one of the telecom companies in Gurugram, is also looking forward to extra savings...

Zero balance account doesn’t ask you to maintain minimum amount, but mind the tr

Non-maintenance of minimum balance is set to become a costly affair, as some of the private lenders have revised their charges effective 1 August. While...

New-age banking for minors can make them money savvy

Keeping children’s digital savviness in mind, two companies have launched new-age banking services for minors. Fino Payments Bank’s product is called Bhavishya Savings Account. While...

Can’t maintain minimum balance? Know why it’s better to close the bank account

Reena Dhiman, 32, who needed money, thought of redeeming some of her old debt mutual fund investments. But she got a rude shock when her...

Liquid funds offer instant redemption facility. Here’s what you need to know

Under this facility, investors can withdraw up to ₹50,000 per day almost instantly on any given day throughout the year. Normally, if you redeem your...

Should you open an account with a neo-bank?

To make banking more convenient and meaningful, some financial technology companies are launching neo-banks. These startups are partnering with traditional banks and offering better solutions...