{"id":12010,"date":"2024-06-26T10:56:40","date_gmt":"2024-06-26T10:56:40","guid":{"rendered":"https:\/\/www.indusind.bank.in\/iblogs\/?p=12010"},"modified":"2025-09-02T08:05:49","modified_gmt":"2025-09-02T08:05:49","slug":"how-to-save-invest-with-a-savings-account","status":"publish","type":"post","link":"https:\/\/www.indusind.bank.in\/iblogs\/savings-account\/how-to-save-invest-with-a-savings-account\/","title":{"rendered":"How to Save & Invest with a Savings Account?"},"content":{"rendered":"\n

A savings account allows you to deposit money and earn interest as per the prevalent interest rates on savings account<\/a>.\u202fIn addition, this account permits withdrawals based on your requirements without any lock-ins.\u00a0\u00a0<\/p>\n\n\n\n

Along with this feature, there are many uses for a savings account. If leveraged intelligently, a savings account<\/a> can help you save and invest money<\/strong> and create wealth over the long run. Read on to know more.\u202f\u00a0<\/p>\n\n\n\n

Ways to Save and Invest with a Savings Account<\/strong><\/h2>\n\n\n\n

Here are some tips that you can use to maximise your savings account experience: <\/p>\n\n\n\n

1. Create a term deposit<\/strong><\/h3>\n\n\n\n

You can create a term deposit with the available amount in your savings account.\u202f <\/p>\n\n\n\n

For the uninitiated, a term deposit is an account where you deposit a pre-fixed amount for a pre-specified tenure. This disciplined approach can help you chart your savings and investment<\/strong> journey in a better way.\u202f <\/p>\n\n\n\n

Term deposits can be of two types: fixed and recurring.\u202f <\/p>\n\n\n\n

Here\u2019s more information about them \u2013  <\/p>\n\n\n\n

Parameters\u202f<\/strong> <\/td>Fixed Deposit (FD)<\/strong> <\/td>Recurring Deposit\u202f(RD)<\/strong> <\/td><\/tr>
How does it work? <\/td>You deposit a lump-sum amount at once for a set period. The money accrues interest over the tenure. <\/td>You deposit a comparatively smaller amount in regular instalments for a set period. The money accrues interest throughout the tenure.\u202f <\/td><\/tr>
Whom is it ideal for? <\/td>Ideal for those with a lump-sum amount they need to deposit.\u202f <\/td>Ideal for those with a regular source of income and who need to keep a portion of savings aside.\u202f <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

With IndusInd Bank, you can also take advantage of the sweep-in\/sweep-out facility, to enable the automatic transfer of money from your savings account<\/strong> to a term deposit. When the balance in your savings account drops below the minimum amount, the funds necessary to maintain the minimum balance are transferred from the term deposits. <\/p>\n\n\n\n

Also Read<\/strong>: How to Save for Your Retirement with a Savings Account<\/em><\/a>\u00a0<\/p>\n\n\n\n

2. Keep separate savings accounts for different financial purposes<\/strong> <\/h3>\n\n\n\n

To ensure an organised savings and investment <\/strong>journey, consider opening separate savings accounts for each financial purpose.\u202f <\/p>\n\n\n\n

So, for instance, you can keep three savings accounts and utilise them in the following way:\u202f <\/p>\n\n\n\n