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JazzyBiscuit
JazzyBiscuit
Stealth

Secondary Savings account

I want to open another bank account where I wish to build a significant cash position (with about 5 months of my salary). I will use that money incase of emergencies or if I need a lot of cash, so that I don't have to exit any stock positions or mutual funds if I suddenly need money. The corpus will be created over time ofc. I wanted to know which is a good bank to go ahead with? I don't have a problem with a non zero balance account, all these banks offer a shit ton of options and benefits and I am confused. So, good people of grapevine share your wisdom. What would be a good choice with decent benefits.

14mo ago
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JumpyDonut
JumpyDonut
Stealth14mo

Idfc first

ZoomyMuffin
ZoomyMuffin
Stealth14mo

Very underrated bank. I also recommend it

ZoomyMuffin
ZoomyMuffin
Stealth14mo

Why not open FD or multiple in your own bank? You can also open multiple savings accounts in your bank itself

If you want to choose other bank anyways: Choose ICICI. They have good app and service better.

WobblyRaccoon
WobblyRaccoon
Stealth14mo

I have that kind of savings account in PNB. And I make several FDs online, as of now earning 7.25% interest on it. The idea behind several FDs instead of one is to be able to break as per need without disturbing entire funds.

FluffyBiscuit
FluffyBiscuit
Stealth14mo

Open the bank account in SBI . Opt for flexible FD in which you can withdraw the amount anytime you want in case of emergency while earning the FD interest rate.
Although rate of interest is 6 to 6.5 % but it's one of the safest bank out there.

SillyDonut
SillyDonut
TCS14mo

Dbs...7.5% on saving.

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