need advice for utilising money in mothers account
- 490
- 8
-
- Last Comment
hello friends
my mother having account in canara bank and she has some amount of nearly 3-4 lakhs , it is her salary account .
Shall we keep account in bank or else move to some postOffice / MIS or somewhere else
pls advise me where shall i put the money so that my mother get the best benefits for her .
- Sort By
what about SIP ?
also some ppl told me about Postoffice MIS , is it good ?
As @ConfirmPassword said, if you wish to keep liquidity and balance floating in savings account (you say 3-4L) with the added clause of upto 10k tax free interest, then open an account at Bandhan Bank (just "standard" type will do 5k MAB) and just park the fund in savings... Interest rates: https://bandhanbank.com/rates-c...es
I have better investment ideas. My intention is to tell that sweep in facility provided by the bank is of no benefit to the end user.
AVOID sweepin.
FD not made? Only as savings a/c balance currently?
Even sweep in FD facility is good for quick liquidity and high returns...