Money invested wisely gives you a long term grown and security. Scope of investment is depend upon the availability of fund,time frame , risk tolerance and expectations. Accordingly before any investment fruitful thought should be given to investment needs.

Ø Don’t just leave your money in saving bank accounts. They don’t fetch you good returns. When you get money in lump sum invest in fixed deposits and when you wish to save regularly, open recurring deposit accounts.

Ø For your bank accounts and safe custody articles in the bank, nominate a person whom you trust, it is in the interest of your near and dear ones. Fill up nomination form at the opening of a bank account. Having a nominee helps in fast settlement of claims and reduces hardships for surviving family members. ‘Either or survivor’, ‘former or survivor’, ‘joint account’ are important operational instructions for banks. Give them carefully.

Ø To withdraw your fixed or term deposits prematurely in case of need, you have to ensure that you have opted for that facility at the time of making the deposits.

Ø Pensioners can use their existing saving account for receiving pension. It is advisable to keep a joint account with your spouse and have nomination registered or have ‘either or survivor’ or ‘former or survivor’ operating instruction in your account if required you can transfer your pension account to another branch or another bank.

Ø Do remember to submit your’Life Certificate’ to your bank branch in November , every year. Instead of physical ‘Life Certificate’, you can now submit Jeevan Pramaan, a digital life certificate that uses Aadhaar number based biometric authentication. You can visit the website and send your life certificate yo your mobile phone.


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