Monthly interest from SB account to make them plan, spend

R. Rakki, a homemaker from Mangalore, now thinks of planning her monthly budget with the interest from her SB (savings bank) account. Though the interest from the SB account may not help her plan for all requirements of the house, it will definitely help in meeting some requirements such as paying for milk, electricity etc. This hope comes in the wake of Reserve Bank of India providing an option to banks to pay interest on savings deposits and term deposits at intervals shorter than quarterly intervals. Rakki’s family plans the requirements for the month and prepares a budget for it. Based on the requirements, they (family members) earmark the money from the salary amount of her husband, who works in a private enterprise in Mangalore.

Read more >> Click here