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Imagine sipping your morning coffee, knowing your Savings Account isn't just sitting there—it's growing, working for you, creating a cushion for your dreams and a safety net for your future. Wondering how to get more interest on your Savings Account funds? Follow along as we explore strategies to enhance your Savings Account return that boost your financial plan.
Axis Bank's Auto Fixed Deposit feature exemplifies the auto-sweep facility. When your Savings Account balance exceeds ₹25,000, the auto Fixed Deposit kicks in, automatically transferring surplus funds in multiples of ₹5,000 into a Fixed Deposit.
Maintaining a high balance: Many banks offer preferential rates for accounts with substantial balances, turning your savings account into a lucrative investment option.
Recurring deposits: Pair your Savings Account with a recurring deposit (RD) to set aside a fixed amount regularly
Axis Bank's Recurring Deposit is designed to enhance your savings through consistent monthly contributions. With a minimum investment starting at just ₹500, it's tailored to be accessible to everyone. The interest rate climbs higher based on the instalment amount and the tenure of the deposit, incentivising you to save more. You can open an RD online, and with the flexibility of tenures ranging from 6 months to 10 years.
Rewards and cashback offers: Engaging in these programs can enhance your overall returns, making every transaction more rewarding.
The Liberty Savings Account is an excellent example of how customers can benefit from rewards and cashback offers. With this account, customers can enjoy flat 5% cashback on weekend spending across food, entertainment, shopping, and travel, as well as quarterly gift vouchers worth ₹750, among other benefits.
You'll find the right loan for every need in life.
Maximising your Savings Account returns is an achievable goal with the right banking partner and the appropriate financial tools. With the convenience of Axis Bank's offerings in online banking and the assurance of competitive interest rates, there's no better moment than the present to start shaping your future. So why wait? Embark on your journey to financial success with Axis Bank today and watch your savings soar.
Disclaimer: This article is intended solely for informational purposes. The views expressed in this article are personal. Axis Bank and/or the author shall not be liable for any direct or indirect loss or liability incurred by the reader arising from reliance on the content herein. Readers are advised to consult a qualified financial advisor before making any financial decisions. Axis Bank does not endorse or guarantee the accuracy of any third-party content or links included in this article.
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