Investments

How to Reactivate Dormant or Inactive Bank Accounts [2019]

reactivate dormant bank accounts

How many bank accounts do you hold? 2? 3? 4?

How about that one account that you opened while in college and haven't bothered to check again? Has it been two years since you withdrew from or deposited money in that account?

You may be surprised to find that you are not able to transact in that account anymore. This is because that account of yours is now designated as a dormant.

Fortunately, it's quite straightforward to get these accounts back in active state. This post covers dormant accounts in detail as well as lists steps to reactivate them...

SBI Gold Deposit & Monetization Scheme

sbi gold monetization

Gold is considered to be a safe investment. And since centuries, Indians have kept a significant portion of their wealth in this form.

But inherently, Gold is an unproductive asset. Even if it's bought as an investment, it typically sits at home or in a bank locker and doesn't earn any return as such.

Now, is there a way to make it more productive? Is there a way to grow your precious yellow metal? Something similar to a fixed deposit?

The good news is that there is indeed an option. And you can grow your asset by making use of Gold Deposit Scheme by SBI.

In this post, we will look at details of this scheme...

How to Open & Invest in a SBI PPF Account Online

sbi ppf account

Outside FDs, PPF is probably the most popular investment vehicle for saving taxes.

But, till recently, it wasn't that convenient to make use of this vehicle. You could only open an account up in a post office and had to visit physically to deposit money in it.

Fortunately, things have changed and now many top banks now offer easy and convenient PPF investments.

And amongst these banks, State Bank of India is probably the most popular choice. It's the one with the highest reach and was the first bank to be approved to open up PPFs on the Government's behalf, back in 2011.

In this guide, I will walk you through the exact process of opening and operating your PPF in any SBI branch. I will also cover what to do if you already have an PPF in a post office...

How much Pension will you get with EPS (with EPS Calculator)

calculate eps

You see a regular contribution from your employer towards EPS every month. And you have been told that this is a mandatory contribution towards your retirement pension.

But, have you ever wondered... what's the exact benefit of this deduction and how much EPS amount you will get when you finally retire?

Not many know their potential EPS payouts. And to be honest, EPS is not that straightforward to calculate as it's driven by a number of rules that have changed quite a bit over the years.

In this post, I will try and demystify these rules and resultant calculations.

I have also created what I believe is the most comprehensive EPS calculator available right now anywhere and you can use this calculator to help you estimate your pension amount quite easily.

So, let's get going...

SBI Savings Plus Auto Sweep (MOD) Account Review

sbi autosweep account review

Like most other banks, SBI too has been offering savings accounts with an Auto Sweep facility for many years now.

They have named it as 'Savings Plus' account.

Savings Plus for SBI is essentially a savings account linked to their MODS facility.

With MODS, any surplus funds above a threshold limit can automatically be transferred to the fixed deposits while withdrawals are made in multiples of INR 1k.

In this post, I will do a detailed review of Savings Plus account and provide my recommendation on whether you should opt for it or not...

How to easily transfer funds to your PPF Account Online [2019]

transfer funds to ppf

Do you already have a public provident fund account?

If yes, congratulations! You made an excellent investment choice (at least in my view).

PPF is an investment option that everyone should avail of as soon as possible. It's amongst the best fixed income investments, it boasts of high returns, it's risk free and most importantly it's also 100% tax free.

However, as great as this investment is, you may be facing one issue...

... i.e. of having to visit the bank branch or post office physically to make a deposit.

In a world, where everything is online and at your fingertips, visiting physically to deposit money seems so much from the past. It's a hassle.

In fact, so much so, that some friends have actually discontinued their PPF investments just because of this reason.

Fortunately, things have changed. And now, in most cases, it's actually possible to skip these physical visits completely.

Read on...

Top 7 Savings Accounts with Highest Interest Rates [2019]

Savings Accounts Interest Rates

4%...

Yes, 4% per annum... That's the interest rate offered by most bank accounts in India. And some go even lower.

When RBI deregulated savings bank interest rates back in 2011, it was expected that banks will start competing for retail accounts and hence the interest rate on offer will slowly rise.

This hasn't happened though, as most entrenched banks have continued to stick to their standard 3.5%-4% offering.

But, fortunately, there are some exceptions...

How to Check your PF Balance Online – Via UAN, SMS, Missed Call & App

check epf balance

EPF is a social security scheme managed by EPFO (Employee Provident Fund Organization) targeted at your retirement.

Essentially, you and your employer both contribute up to 12% of your basic salary each month and you get the entire corpus back at the time of your retirement.

It is often the very first saving that one makes as it's a mandatory investment for all salaried people in India.

And like any other investment, it's a good practice to keep a close tab on your provident fund balance.

In this post, I will cover five easy ways to do just that...

List of Banks offering PPF accounts & online PPF services

banks ppf services

Public Provident Fund has been a darling of long term investors for a long time. And that's for a good reason...

PPF is amongst very few investment options that are truly exempt exempt exempt i.e. the initial deposit, interest and the final maturity amount, all three are completely free of any tax liabilities. Also, PPF is as risk free as it gets as it's backed by the sovereign guarantee. Further, PPF returns and interest rates are amongst the highest in fixed income category.

Combine these three factors and no wonder that PPF is as popular as it is.

Now, when it comes to opening a new PPF account, the first place that probably pops up in your head is your local post office... or quite possibly, 'State Bank of India'.

No surprise there to be honest, as for the longest time, these were the only places to get a PPF account from.

Thankfully, things have changed...

Post Office Small Savings Schemes: Details & Interest Rates

post office small savings schemes

In Indian culture, savings are considered to be essential...

...in fact, the first thing you are taught once you start earning is to take some portion out of your monthly salary and invest it wisely.

Now there are many investment options out there (see: best short term investment options), but if you want assured returns without any market risk whatsoever, you should look at post office savings schemes.

Post office small saving schemes will not offer as high returns as market linked investment products (like mutual funds), but their return is guaranteed by the government of India and hence it's as risk-free as it gets.

Now, if you have ever gone to your local general post office, you have probably discovered that they have 9 different investment options.

What are these 9 options? And which one is actually suitable for you?

Let's see...

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