Banking For Robust Future
Outlook Traveller|June 2019
Banking For Robust Future

If you have a desire for securing your finances, Bank of Baroda has an array of IncentIve packages to offer.

As kids our parents used to encourage us to put our money in piggy banks to save for a special occasion. But now, as adults we encourage our kids to put aside money in savings bank accounts. Saving for the future whether to buy something or start a business or for the rainy day or old age are common reasons for putting aside money.

Balances held in the account are eligible for payment of interest depending upon the slab wise balance i.e upto INR 50 Lakh, it is 3.5% and above INR 50 Lakh, it is 4%. There is also a guranteed capital protection on Deposits upto INR 1 Lakh.

Our bank savings may not make us very rich, but it certainly provides a measure of independence with secure funds that can be dipped into in times of need. This could vary from wanting to host a party (right from birthday to wedding), to planning a vacation, to having a safety cushion when planning to leave work to either go back to college or to switch careers, starting your own business or investing in acquiring a home or business, helping family members, and early retirement.

Having savings that one can rely on provides a comfort and security. Once an adequate emergency fund is established, savings can also provide the “seed money” for higher-yielding investments such as stocks, bonds, and mutual funds.

articleRead

You can read up to 3 premium stories before you subscribe to Magzter GOLD

Log in, if you are already a subscriber

GoldLogo

Get unlimited access to thousands of curated premium stories, newspapers and 5,000+ magazines

READ THE ENTIRE ISSUE

June 2019