While opening a savings account in the bank, people often overlook many things. They also do not get much information about important things like interest on savings account or charges on account. Today we will tell you what things should be kept in mind while opening a savings account in the bank.
Monthly average balance
- It may be more or less in different banks.
- While opening the account, keep in mind that the lower the minimum balance, the more you will benefit. If you exceed this, you may also have to pay a penalty.
- Monthly average balance varies according to urban and semi urban.
- How much interest the bank is giving you on the savings account is very important. Keep this in mind while opening an account
- Different banks have different interest rates.
- Before opening an account, get information about different banks, how much interest they are giving.
Online banking and app service
- Online banking and app facility is provided by all banks.
- Open your account in the bank whose online banking is more simple and secure.
- The bank app should be lite so that you do not have trouble using it.
- Before opening a savings account, also find out about the different types of charges.
- Banks levy charges for sending balance messages, withdrawing money from ATMs, taking check books and withdrawing or depositing money by visiting the bank.
If you want more interest
- Banks give the option to the customers to open different accounts.
- Like SBI gives the option to open a savings plus account.
- These accounts are linked to multi option deposits.
- In this, when the surplus amount exceeds a certain limit, it gets converted into a fixed deposit (FD).
- In this, you can get more interest as compared to the normal savings account.