Make your money work harder

There are enough options to earn better returns than existing savings deposit rates

With the country’s biggest bank, the State Bank of India (SBI), cutting its savings deposit rate from four per cent to 3.5 per cent — a 50-basis point drop — many who keep their money in savings bank accounts, especially for quick liquidity, would be wondering whether it makes sense to continue doing so. 

Financial advisor Harsh Roongta believes losing precious interest rate income just for liquidity is, by itself, a bad idea. “You can use a credit card to make all payments, and it is free cash for a certain period of time. Clear all your credit card bills