Saving Account Rule- You can keep this much money in a savings bank account, legal action can be taken if you own more than this

Today every person has a bank account, it is the best way to keep your money safe, apart from this, you also get interest by keeping money in the bank and you can also do UPI transactions, apart from this there are many benefits that a savings account gives you, let's know about it-

1. Security and interest benefits

A savings account in the Indian banking system is a safe and reliable way to manage your money. It not only provides a safe place for your funds, but it also provides the benefit of earning interest on your balance.

2. Increased trust in the banking system

Trust in the Indian banking system has increased significantly. This trust is largely due to the increased features and security measures implemented by the banks

3. Unlimited potential of savings accounts

In India, individuals can open multiple savings accounts and deposit any amount in them. This lack of deposit limits facilitates personal financial planning

4. Handling large deposits

While there is no limit on the amount that can be deposited in a savings account, any deposit above Rs 10 lakh in a financial year is reported to the Central Board of Direct Taxes (CBDT).

5. Investment options and tips

Savings accounts are a safe place for your money, but investing in the stock market or mutual funds can offer higher returns.