Understanding Important Fixed Deposit Rules & Regulations

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Summary Understanding FD rules around tenure, premature withdrawal, interest rates and auto-renewal can help investors maximise returns and avoid unnecessary penalties. FD interest is taxable, and investors should be aware of TDS rules, available tax-saving options and the use of Form 15G/15H where applicable. Additional features such as nomination facilities, loans against FDs and deposit…

How To Open a Fixed Deposit Without a Savings Account

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Summary Opening a fixed deposit without a savings account is now easier than ever, thanks to digital banking solutions. The process is simple: submit your personal details, choose your preferred FD tenure and investment amount, and fund the deposit. Whether you are a first-time investor, salaried professional, senior citizen, or someone looking for a safe…

Everything You Need to Know About Savings Account Average Monthly Balance

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Summary Average Monthly Balance or AMB refers to the average balance that an account holder must maintain in their account over a month to meet the bank’s minimum balance criteria. Failing to maintain the required AMB may result in non-maintenance charges. Maintaining it can help you enjoy uninterrupted banking services and account benefits. A savings…

What is EMI on Debit Card and How It Works?

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Summary Debit Card EMI allows eligible customers to convert high-value purchases into affordable monthly instalments without using a credit card. It enables you to buy products or services immediately and repay the amount over a chosen tenure through your bank account. It offers flexible repayment periods that make it a popular financing solution for planned…

How to Change Name in Bank Account?

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Summary Changing the name on your bank account is an important step whenever your legal name changes due to marriage, divorce, adoption, correction of spelling errors, or other legal reasons. Updating your bank records ensures that your account details match your official identity documents, helping you avoid issues with transactions, KYC compliance, cheque clearance, and…