Savings account is used to keep money and transfer money. Savings account also provides many other benefits about which people are less aware.
Almost everyone has a savings account or savings account. This account is used to keep money and transfer money. However, there are many things in the savings account about which people know very little. Today we are telling you about the important things related to savings account.
Money of transactions take
greatest advantage of the savings account is that it has people keeping their money. We can also order money in this account and can also send money to anyone. Payment of any bill can also be done through savings account. Government subsidies can also come in this account.
Many kind of payment to facilitate
the use of savings account it is that you can pay off in many ways. Transactions can be done from savings account through debit card, check and internet banking. This account can also be used through the mobile app of banks. You keep getting complete information about how many transactions have taken place from the savings account through the statement.
Nunmt balance of convenience
is important to keep minimum balance in a savings account. If there is no minimum balance in the account then some penalty has to be paid. However, there are different types of savings accounts as well. There are also some savings accounts, which do not have the condition of maintaining a minimum balance.
Deposit money to get the interest
savings account that the amount which is credited to get interest on it. The interest rate may vary from bank to bank. Currently, 3-4 percent interest is being given on the savings account. The interest rate is changed by the banks from time to time. Interest is accrued quarterly, half yearly or annually.
Interest to find a tax
on savings account tax that earns interest. Tax is levied on the basis of which tax slab you fall in. According to the rules of income tax, if the amount of interest received from the savings account exceeds 10 thousand rupees, then you will have to pay tax on it under section 80TTA. For senior citizens, this limit is 50 thousand rupees under 80TTB.
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