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Tips on how to cut your banking charges

January 23, 2009

Cut the clutter

Keeping fewer papers will not only help you save money, but help keep your documents file uncluttered. So, be content with your quarterly account statements and monthly email statements.

A physical monthly statement would cost you Rs 100-200 per year.

Banks even charge you for issuing interest and balance certificates in deposit accounts. A balance certificate gives the balance of a particular day and is used mostly for Visa purposes, while an interest certificate shows the total interest earned on bank deposits and is used at the time of filing income tax returns.

Usually one certificate is issued free of cost every year. Make sure you don't lose it and pay to get a new one.

Also read: These Wall St bosses took home over $1 bn!
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