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Savings Account- Select The Bank

About Savings Account

Brief Introduction:

Savings account is basically opened with the intention to save money and hence the account also get the savings account interest rate credited on a half yearly basis or yearly basis. The savings account interest calculator does the necessary calculations and once the amount is calculated and the interest is due the amount gets credited to the account. We at money superbazaar provide you with all the necessary information in regards to the savings account interest rate and also the savings account interest calculator.

The interest rate is different for different banks. And every savings account gets savings account interest rate ranging from 3.5% to 7% depending on the banks. To open the savings account the bank requires that you deposit some amount into your account at the time of opening the account. And they also want you to maintain a minimum balance in it as well so as to avoid the penalty charges in it.

The savings account can be opened by any individual, societies, trusts, HUF’s, minors, associations. And the documents that they ask you to produce at the time of opening the form is:

  • Application form.
  • 2 latest color passport size photos.
  • Proof of ID such as Passport, PAN card, self cheque signed along with address on it, Driving License, Bank manager’s letter verifying the identity.
  • Proof of address such as credit card statement, telephone bills, electricity bill.

Once the account is opened you just have to agree to the banks terms and conditions. You get to enjoy a whole lot of benefits, advantages, concessions, offers, features and facilities. Some of the benefits that you get to enjoy are:

  • Net banking.
  • Phone banking.
  • Online payments.
  • Standing instructions.
  • Nomination facility.
  • Free debit card.
  • Free E-Statements etc.

Also every bank has a customer service representative who helps out the customer regarding their account and in case of any issues or queries they are there all the time to solve your problem.

Once you have decided about opening a savings account you can decide as to which bank you should go in for after comparing the savings account interest rate and open the account with the bank which best suits your needs.
Every bank has a savings account interest calculator so as to calculate the interest that has accrued on the savings account.

Conclusion:

The savings account is a must for every individual who wishes to save money in the long run and opening this kind of account also inculcates the saving habits among the individuals.

We at Money Super Bazaar

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Looking to apply for a credit card or searching for the customer care number of any financial institution in India, we have all the details to assist you in making your life easier.