Bank Rules: If you also have many bank accounts, then definitely read this news. Having multiple bank accounts can make you suffer a big loss. This includes many charges ranging from maintenance. Let us know in detail.
Bank Rules: If you have also opened your account in more than one bank, then this news is very important for you. With multiple bank accounts, you can have many other problems along with financial loss. Not only this, V also recommends you to have a single account if you consult tax and investment experts. Let us know the drawbacks of having more than one account.
Disadvantages of Multiple Banks
If you have accounts in many banks, then the first and biggest loss is related to maintenance. Each has its own separate maintenance charge, debit card charge, SMS charge, service charge, minimum balance charge. That is, the number of banks in which you have accounts, you will have to pay different charges. Also, if the minimum balance is not maintained, then banks charge heavy charges instead.
Easy return filing
Tax experts say that filing returns is easier if you have a single bank account. Actually, complete information about your earnings is available in a single account. Having different bank accounts makes this calculation difficult. In such a situation, the tax department can issue a notice to you.
Taxpayers will give calculation
Under the new rule, information about income from sources other than salary income, such as dividend income, capital gains income, bank deposit interest income, post office interest income will be pre-filled. Till now taxpayers had to calculate it separately. Now all this information will come pre-filled. This information will be obtained with the help of PAN card.
Account will be closed
If no transaction is done in a savings account or current account for a year, then it turns into an Inactive Bank Account. If there is no transaction for two years, it gets converted into Dormant Account or Inoperative. In such a situation, the possibility of fraud with you increases. bank
Bank charges extra charge
Apart from this, the minimum balance charge of private banks is very high. For example, the minimum balance of HDFC Bank is 10 thousand rupees. For rural areas it is Rs 5000. The penalty for one quarter for not maintaining this balance is Rs 750. So if you keep a bank then you will get more benefit.
Thousands will be lost
If you have multiple bank accounts, then thousands of rupees will be spent every month just to maintain the minimum balance. This affects your investment. The money on which you should get at least 7-8 percent return, that money will be kept as your minimum balance. By investing this money in the right place, returns of up to 7-8 percent can be easily found.