Savings account holders, take note! RBI's new deposit norms explained

Savings bank accounts offer a secure way to store money and earn interest. But are there limits on how much you can deposit, and what are the rules? This article explores the RBI's guidelines on savings accounts, deposit limits, and tax implications.

Banking services

In today's digital banking era, everyone wants their money to be safe in the bank. Reports indicate that approximately 80% of India's population is connected to banking services.

Savings Bank Accounts

Savings bank accounts offer a secure way to store money and earn interest. Understanding the rules and limits of savings accounts.

CBDT

How much money can you keep in a savings bank account?

Rules to follow when depositing large sums into your account. Reporting deposits exceeding ₹10 lakh to CBDT.

Fixed Deposits

Potential tax implications of large deposits. Exploring investment options beyond savings accounts. Fixed deposits as a safe investment option.