Your Money

Customers need to deposit a minimum of 30 grams (gross) of gold to avail the scheme. However, there is no upper limit for deposit, said SBI.

Interest rates on these post office saving schemes move in line with the government's interest rates on small savings schemes, which are revised on a quarterly basis.

A term of 36 months, 60 months, 84 months or 120 months (3 years, 5 years, 7 years or 10 years) is available for SBI's annuity deposit account scheme.

Monthly average balance: Leading lenders of the country have fixed their MAB requirements according to the location of a customer's account.

The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act.

The rates of return on post office time deposit, also known as fixed deposit, vary according to the tenure of the account while the interest rate on recurring deposits is fixed at 7.3 per cent per annum, according to indiapost.gov.in.

State Bank of India (SBI)'s internet banking subscribers can make use of a number of tools available online through the internet banking portal. In order to activate a new ATM card online, the SBI internet banking subscriber - the SBI customer who has opted for the bank's internet banking facility - need not visit an ATM or bank branch.

India Post - which operates a network of more than 1.5 lakh post offices in the country - will ship the products sold through its e-commerce portal, ecom.indiapost.gov.in, via its Speed Post service.

Fixed deposits, which require customers to park their funds with a bank until a specific period of time, offer guaranteed returns. However, the rate of return on fixed deposits of small finance banks is better than the FDs offered by traditional commercial banks.

PPF, RD, FD: Financial experts advise investors to invest their wealth in schemes that offer good returns. People looking for assured returns should park their funds in fixed-income schemes like fixed deposits, recurring deposits and public provident fund accounts.

From State Bank of India to private sector peers like HDFC Bank, ICICI Bank, banks offer a fixed number of ATM transactions free of cost every month.

Recurring Deposit or RD is a kind of term deposit under which one needs to deposit a fixed amount at fixed interval, which generates interest income.

Post office monthly income scheme (MIS) account: Nomination facility is available at the time of opening and also after opening of MIS account.

Banks charge a penalty from the customers who fail to maintain an average monthly balance in their savings account.

SBI's zero balance savings account does not require customers to maintain any particular minimum average balance.