Tuesday 4 December 2012

Minimum balance - Maximum Interest

While making a deposit to one of my bank account (which I do not use very frequently), I just happened to check the current requirement for minimum balance that has to be maintained. And to my horror I discovered that I have been maintaining far more balance than what was required . I could have kept this in another account which offers more interest (in fixed deopsit) as opposed to earning measly savings bank interest. So I have moved this surplus booty to my RBS account and I am going to earn more interest.
As a result of this transfer I am going to earn Rs. 7 per month more as long as I am not going to spend it.
So that is 700 paise (or pennies) saved. Finally something to show.
I am going to check my other accounts and see if there is any surplus money lying around which is not earning much and if yes move it to other account and convert it into fixed deposit.


Total pennies earned : 700.00
(Keeping a count in pennies is not very pratical is it, so I am going to keep the count in Rs.)

Total Rs. earned : 7:00

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