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Bank Deposits

Tax-saving fixed deposits

Allow me to introduce you to a unique type of fixed deposit that offers a valuable tax break to investors. This deposit allows individuals to invest a certain amount of money and receive a tax benefit in return. The maximum benefit can be availed for investments up to Rs 1 lakh, with a mandatory lock-in period of 5 years.

Savings bank account

's deposits Let's discuss a financial term that may seem commonplace but holds significant importance in the world of banking and finance - the savings account. This type of ...

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Taxable interest

In the realm of finance, it is crucial to understand the taxation of interest earned on fixed deposits. According to the Income Tax Act, any interest earned on a fixed depos...

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Know Your Client guidelines

It is essential for banks and other financial institutions to conduct thorough due diligence on their investors. This involves verifying the identity of the client and ensur...

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Sweep Account

In the world of finance, a popular product known as a "Sweep Account" has been introduced by numerous banks. This unique account offers a combination of savings and fixed d...

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