Bank Account: Be sure to ask these questions before opening a bank account..

Are you thinking of opening a bank account (New Customer Banking Tips)? If yes, then this article can be useful for you. When you are opening an account, you should also ask some 5 important questions on your side.

Because the bank can charge for many types of services, whether it is a fee or any other type of charge. This is why it is very important to investigate thoroughly (bank account safety tips) about the charges, terms, and interest rates related to the account (Bank Account Opening Tips). This can save you from any unnecessary burden later.

1. What should be the minimum balance

Ask the bank if, for some reason, the money deposited in the account becomes less than the minimum deposit amount, then how much penalty will the bank charge? This is a very important question.

2. How much interest will be received in a savings account

On opening a savings account, do ask how much interest you will get from the bank on the deposited amount. The policies of all banks are not the same regarding interest rates and charges. Usually, about 3.5 percent interest is available on a savings account. This is decided based on the average deposit amount.

3. When will the interest money be received

Most banks pay interest every quarter, and some every month. In such a situation, you can get this information from your bank.

4. How much will be the interest on a fixed deposit

Apart from knowing the interest rate on FD, also know how much penalty the bank will charge if you need money before the maturity date. Senior citizens should ask whether the bank will give them additional interest or not.

5. Other charges levied on the bank account

Banks provide net banking, an ATM card, and a free checkbook. Most banks provide an ATM card for free only in the first year. In such a situation, you can also ask how much the charge will be there again.

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