So you manage your own money. But how do you know if you are on course to retiring comfortably? This is a question that we have been asked on several occasions by individuals who manage their own finances. In this article, we discuss how you can periodically monitor your portfolio to ensure you are on the path to achieving financial freedom.
12 October 2012
Group your savings accounts to enjoy benefits ::Business Line
Grouping can entitle you to lower charges on certain transactions, discounts and flexibility in maintenance of minimum balance.
You and your spouse have a savings account in the same bank. You are also thinking of opening an account there for your daughter. Did you know that all three can be clubbed together under a ‘Family/Group Savings Account’?
Clubbing does not mean merging all these accounts into one. It simply means that the bank will identify the accounts of your family members with a common ‘family ID’.
By doing so, you could be entitled to several benefits such as lower charges on certain transactions, discounts, flexibility in maintenance of minimum balance and so on. At the same time, each account holder in the group can continue to operate their accounts as they always did. Foreign banks such as Standard Chartered and Deutsche and a handful of local banks such as HDFC, ICICI, DCB, YES Bank and IDBI bank offer this facility.
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SGX Nifty 5,753.50 +5.00 (Singapore) ; markets to be up today
SGX Nifty 5,753.50 +5.00 (Singapore) ; markets to be up today
8:20 Am India time
12 Oct 2012
8:20 Am India time
12 Oct 2012
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