TYPES OF

SAVINGS
1. Savings in bank - Savings Account
Savings account is a basic account type that lets you deposit money
safely with a bank. It ensures safety and access to your money whenever
you need. You can withdraw your funds, either digitally or in person, at
any point in time. Having a savings account is a liquid investment, so you
have the ease of using your funds any time for transactions.

2. Government sponsored savings account

As a government-backed savings scheme, it is the safest and
most popular savings option in India. They provide benefits
such as tax benefits.

3. Savings in financial institution schemes

Financial institutions like banks, credit unions, and savings
associations can accumulate cash when customers make
consistent deposits.

4. National Bonds Corporation

National Bonds Corporation (“NBC”) was established in 2006 as a
Shariah-compliant company built on the foundations of Islamic investment
principles. NBC’s aims are aligned with the UAE Government’s ambition to
increase financial literacy and encourage disciplined savings habits
amongst its depositors while ensuring their financial objectives are
achieved in a sustainable manner.
NBC offers an array of savings and investments solutions focused on
wealth creation and preservation for its customers. NBC also has a
leading position in terms of the returns it offers to its bondholders.

By: Kelrina Dsilva

12 COM C