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Bank Deposits
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Bank Deposits hardly beat inflation.
However, they offer guaranteed rate of return in the form of Interest.
They are highly liquid and the most sought after investments.
Use Bank Deposits to the level they are essential for you.
For example, they can be used for parking money for use in an emergency.
However, it will be unwise to use Bank deposits to save for the purpose of retirement which would probably be 20 years away!
Those who are already retired or senior citizens can use a part of their overall corpus in the form of Fixed Deposits to earn regular interest.
Relate Lessons
- Credit Cards
- Sukanya Samriddhi Account
- Employees Provident Fund (EPF)
- Gratuity
- National Pension Scheme (NPS)
- Sovereign Gold Bonds
- Tracking Banking data with Spreadsheets
- Introduction to Insurance
- Pre and Post Retirement Financial Planning
- Taxation
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- Personal Finance