Follow these tips for better returns from savings account
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Personal Finance: To be financially secure, everyone saves money. Most people keep their money in the savings account of the bank. Savings account helps us keep our money safely and we also get interest on it from the bank. Here we will tell you how you will be able to get maximum returns from your savings account. Use these simple tips to get the most out of your savings account.
Personal Finance: Open a bank account with higher interest rates
To get maximum returns from your savings account, start an account in which you are getting the highest interest rate. The higher the interest rate, the more profit you will get. After some time you will be able to get a good amount from this.
Personal Finance: Auto Sweep facility
You can use the auto sweep facility in your savings account. Through this you can transfer extra money from your savings account to fixed deposit. With this facility you will be able to transfer your money safely and you will also get more interest from it.
Personal Finance: Try to keep your bank balance high
Always try to maintain your monthly balance as much as possible because the bank provides you more interest on this basis. When your monthly balance is high, it helps you in getting higher returns.
Personal Finance: Start Recurring Deposit
Recurring deposits are also a good option if you want good returns from your savings account. In recurring deposit, you have to deposit a fixed amount every month and you get interest on it from the bank.
Personal Finance: Use rewards and cashback offers
You get many benefits on savings account debit card like – discounts, rewards, cashback offers. By using these rewards properly, you will be able to save a lot of money.
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