Your boss would like to save as much money as she can for retirement, but being...
Your boss would like to save as much money as she can for retirement, but being ultra-risk-averse, she will only use a savings account at one of the big Canadian banks. Tell her what she should look for in a savings account to maximize her earnings from the account. Next, tell her what she can do to maximize her savings in this account.
Homework Answers
following are some of the factors to keep in mind to maximize the benefits from savings accounts-interest rate ,minimum balance , service charges and ancillary fees, online banking facility, door step services, debit card deals etc .
to maximise the earnings from a savings bank account following
measures can be taken -1)an SIP or recurring deposit can be made
from the savings account 2) trading and demat account can be set up
using savings account to invest in PPF,insurance and other
investment products 3) an be linked to payment applications like,
BHIM, Googlepay or Paytm and earn rewards and other benefits 4)
third party utility bill payments can be made
Read more at:
https://economictimes.indiatimes.com/wealth/save/how-to-maximise-benefits-of-savings-bank-account/articleshow/73200824.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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