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How to Series

How to earn upto 9% interest on your Savings account Balance?

Last updated : 31st July, 2015 Yes. You read it right. In this post, I will explain how to earn upto 9% interest on your idle savings account balance. Option 1  –   Choose High Interest Saving Account Typically banks give 4% interest on savings accounts. However, after RBI de-regulated the savings account interest rates, few banks are offering higher rates. Bank / Rates Balance upto 1 lakh Balance above 1 Lakh Yes bank 6% 7% Kotak Bank 5.50% 6% IndusInd Bank 5.50% 6% So, you can get maximum of 7% interest from your savings account.   Option 2  – ... Read More »

[How to] transfer funds to PPF account online

Last updated : 9th April, 2014 In today’s net savvy world, visits to banks are becoming less and people are interested in transacting online.  You can also transfer funds to your PPF account online if you have PPF account in SBI or other Banks. You can deposit money in PPF account online via netbanking. If your PPF account is in Post office, then such online funds transfer is not possible. In my last post, I concluded that PPF is one the safest, tax eficient long term investment. Read the complete article. Scenario 1: If your PPF Account is in SBI ... Read More »

How to Avoid TDS on Interest on Fixed Deposits (Bank FD)

Last updated : 26th April, 2015 Bank Fixed deposit is an all-time favourite investment in India as it provides a decent fixed return for the fixed period and relatively safer as compared to other forms of investment products.   Specially, in current interest rate scenario, the fixed deposit rates are quite lucrative (8.5 – 10%).  However, it is likely that rates will go down further, so it is advisable to lock-in your interest rates if you want to invest in FD for longer term. Banks are required to deduct Tax (TDS) @ 10 % if the interest earned on FD ... Read More »

NEFT & RTGS Transfer – meaning, differences, charges & process

Last updated : 9th April, 2014 In banking context, you must have heard phrases like “NEFT transfer”& “RTGS”.  In this post, we will discuss – what is NEFT & RTGS, how they are different, charges, and process of using NEFT & RTGS etc. A. What is NEFT & RTGS? National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS) are two main system of transferring funds from one bank to another.  These systems are managed by RBI and it allows transferring funds across banks within the country.   B. NEFT – National Electronic Fund Transfer NEFT operates on a ... Read More »

[How to] View your Form 26AS online – Check Tax Credit Statement

Last updated : 15th August, 2015 Check your Form 26AS regularly to make sure that TDS deducted are appropriately credited to your account. When your employer deducts TDS from your Salary or your bank deduct TDS on your FD Interest, they need to deposit this amount to Government against your PAN. If they enter your PAN incorrectly, you will not get credit for that TDS amount. So, It is always better to check your Tax Credit Statement (Form 26AS) before filing your Income Tax return. What is Form 26AS Form 26 AS is consolidated tax statement which includes details of ... Read More »

How to use Sweep-in facility in HDFC bank via netbanking?

Last updated : 9th April, 2014 In my other post,I explained How you can earn upto 9% on your savings bank account using Auto sweep / sweep-in facility (Read Full Post). In this post, I have provided step-by-step guide to use the sweep-in facility in your HDFC Bank Account via NetBanking. HDFC Bank provides this facility to all its customers who have NetBanking facility. (holding pattern should be SINGLE & not Joint). I have savings account with HDFC bank and it is very simple to use this facility. Step 1:  Go to “Fixed Deposit” Section – Open Fixed deposit Enter ... Read More »

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