Category: Finance

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Zero Balance Savings Account From Top Indian Banks: A Comparison

zero balance saving account

Zero Balance Savings Account A Zero Balance Savings Account, also known as a basic savings bank deposit (BSBD) account does not obligate the customer to hold a minimum running balance every month as prescribed by the bank. These also come with debit/ATM card and net banking facilities. If you are looking at options to open such an account, here is...

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Now transfer money between mobile wallets using UPI

mobile wallets

Transfer Money between Mobile Wallets Users of mobile wallets may soon be able to transfer funds from one wallet to another, with the Reserve Bank of India (RBI) releasing rules for the same. The rules on interoperability of prepaid payment instruments (PPIs) do not force PPIs such as wallets to permit such transfers; instead, these guidelines are for “participating PPI...

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IRDAI hikes insurance cover for owner-driver to 15 lakh

insurance cover raised

IRDAI insurance cover raised The Insurance Regulatory and Development Authority (IRDA) has raised the minimum insurance cover raised for owner-driver to Rs 15 lakh for a premium of Rs 750 per annum. Currently, the capital sum insured (CSI) under this section for motorised two-wheelers and private cars/commercial vehicles is Rs 1 lakh and Rs 2 lakh, respectively.     However,...

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Tax and Other Benefits From the 3 EPFO Savings Schemes

EPFO Savings Schemes

EPFO Savings Schemes As a salaried individual, you should be aware that your PF (Provident Fund) contributions made every month come with retirement and insurance benefits. The government-run pension fund organization: Employees Provident Fund Organisation (EPFO) provides three savings schemes namely: Employee's Provident Fund (EPF), Employee's Pension Scheme (EPS) and Employee's Deposit Linked Insurance Scheme (EDLI). An amount at the...

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Your PF Comes With Up to Rs 6 Lakh Life Insurance Coverage?

Life Insurance Coverage

Rs 6 Lakh Life Insurance Coverage As a salaried employee of a company, you may be aware of some benefits like provident fund (EPF), health insurance, transport and Life insurance coverage and entertainment allowances etc that you receive from your employer but many do not know that they are covered for life insurance under the Employees' Deposit Linked Insurance (EDLI) scheme...

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PNB Customers: you would Not Be Able To Transact Via Non-CTS Cheques soon

Punjab National Bank

If you have an account with state-run lender Punjab National Bank (PNB) and deal frequently in cheques then you should pay heed to this news piece promptly. As customers who still possess Punjab National Bank non CTS cheques will not be able to make payments via such cheques after December 31, 2018. PNB Customers: You Will Not Be Able To Transact...

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Post Office Savings Account Vs IPPB Regular Savings Account: 5 Things To Know

Post Office Savings Account Vs IPPB Regular Savings Account

Want to open a savings bank account at the post office? For opening a regular savings account, you have two options. India Post Payments Bank - which was launched last week - and India Post offer regular savings accounts to retail customers. India Post, which has a network of more than 1.5 lakh post offices across the country, pays an interest rate of 4 percent per...