In Hindu tradition, Rakshabandhan is more than just a festival or a symbolic thread of protection, it represents an unsaid commitment to safeguard your sister. In the same way, you can protect her financial future by giving financial gifts instead of material ones, as financial assets usually appreciate in value, helping her secure her future and achieve her dreams.
In this blog, we will give you an overview of the best financial gifts for your sister, which you can give to her this Rakshabandhan.
What is a Financial Gift?
A financial gift is a transfer of property, money, or assets to another person without expecting anything in return. It is a way to give valuable assets to your close ones. The financial gifts include cash, fixed deposits, mutual funds, stocks, etc. The main objective of these gifts is to help your close ones in building long-term wealth and encourage financial discipline.
Importance of Financial Gift
The key benefits of a financial gift are as follows:
Financial Security: A monetary gift can help an individual build a strong foundation for creating long-term wealth.
Encourage Discipline: Gifting mutual funds and fixed deposits can encourage financial discipline.
Wealth Creation: Financial gifts can help an individual build long-term wealth while reducing the tendency to spend the amount immediately.
Financial Goals: Financial gifts can be given for achieving specific financial goals such as marriage, education, house purchase, etc.
Tax Efficiency: Gifts given to close ones, such as siblings, parents or children, are exempted from tax in India.
Best Financial Gifts for Sister 2025
The list of the best financial gifts for a sister is as follows:
1. Mutual Funds
Mutual funds are financial assets which can help a person create wealth in the long run. There are various options through which one can gift mutual funds to their sister, such as in the form of a lump sum investment or SIP. It is best to save based on specific goals such as education, marriage, etc. Mutual funds are professionally managed funds that offer diversification, helping to reduce risk. One can start a SIP for her and help her learn the importance of financial discipline over time. However, you also invest a lump sum amount in the mutual fund and gift it to her.
2. Stocks
It is important to introduce your sister to the world of the stock market so that she can understand the benefit of compounding at an early stage. You can give her shares of fundamentally strong companies so that the value of her equity portfolio increases over time. You can transfer shares from your demat account to her demat account directly. However, she will have to pay capital gain tax whenever she sells the shares. It is advisable to conduct thorough research before choosing any stock for investment.
3. Digital Gold
Gold has always been considered a traditional investment option and a safe haven. Earlier, people used to give gold jewellery to their sisters, but owning physical jewellery carries certain risks, such as storage cost, wear and tear, etc. Hence, digital gold in the form of gold mutual funds, gold ETFs, and Sovereign Gold Bonds can be a better option to gift your sister. You can purchase digital gold in her name and gift it to her.
4. Fixed Deposit
Investment in fixed deposits is low risk and has assured returns. Therefore, fixed deposits can be a suitable gift option for your sister if you are looking for stable returns. Returns on fixed deposits may not be inflation-beating but they can be used as an emergency fund or for short-term financial goals. You can easily open a fixed deposit in her name and give the fixed deposit receipt to her, and on maturity, she can visit the bank and get it encashed.
5. Sukanya Samriddhi Yojana
It is a government scheme in which you can open a Sukanya Samriddhi account in the name of your sister who is below 10 years of age. Investment in the Sukanya Samriddhi Yojana comes with a lock-in period, which lasts 21 years from the date of opening of the account or gets married after attaining 18 years of age. These are backed by the government, hence carry the lowest risk. Sukanya Samriddhi Yojana cannot be gifted directly unless you are a guardian.
6. Gift Cards
A perfect balance between thoughtfulness and freedom, letting your sister decide what she loves most. Various online retailers offer gift cards. You can purchase the gift card from them and gift it to your sister on Rakshabandhan.
7. Cash
It is the most convenient financial gift which one can give to their sister on Rakshabandhan. Unlike other financial gifts that are meant for long term financial goals, cash can be used anytime by your sister.
Tax Implications of a Gift
All the above-mentioned gifts, if gifted to your sister, are considered tax-free. No tax is payable by your sister. However, the interest or capital gain earned on these financial gifts are subject to taxation as per the applicable capital gain tax rate or as per her income tax slab. And if your sister is a minor, the income on these financial assets may be clubbed with the parents’ or guardian’s income.
Conclusion
On a concluding note, gifting financial assets to your sister on the auspicious occasion of Rakshabandhan is a smart choice. The financial gifts can help your sister achieve her financial goals. The Income Tax Act also allows tax-free gifting to your siblings, hence making it one of the most efficient ways to create wealth. The value of material gifts decreases over time, but the value of financial assets increases. Therefore, consider gifting financial assets to your sister but only after consulting your investment advisor to ensure they align with her risk profile and investment objectives.
Frequently Asked Questions (FAQs)
What is the applicable tax rate on giving financial gifts to my sister?
There is no tax payable by you or by your sister on the gift given to her. However, the income generated by the financial assets is taxable as per the applicable tax laws.
Is there any limit on the amount that is tax-free when gifting to a sister?
No, there is no limit. Gifts given to your sister are fully exempt from tax under the Income Tax Act.
How can I gift stocks to my sister?
First, you need to open a demat account for your sister, and then you can choose the stock from your demat account and gift it directly to your sister. It will be debited from your demat account and credited to her demat account.
Is a gift deed required for financial gifts given to a sister?
No, it is not mandatory to prepare a deed while gifting a financial asset to your sister. However, it is advisable to create one for high-value gifts to avoid any future inconvenience.
Is the income generated from the gifts given to the sister taxable?
Yes, income generated from the financial gifts given to your sister is taxable.
Anyone who has ever scrambled to find spare change in a crowded market knows how frustrating and time-consuming cash payments can be. That’s where UPI apps come in to save the day as they let you send money with just a few taps.
This blog will introduce you to some of the most popular UPI apps in India, helping you choose the one that fits your needs best. With so many options available, each with its own unique features, strengths, and drawbacks, understanding the pros and cons of each app will make it easier for you to make the right choice.
What is UPI?
Unified Payments Interface, or UPI for short, is an instant money transfer system built by The National Payments Corporation of India in 2016. With UPI, money moves straight from one bank account to another, with just the help of a smartphone almost like a text message traveling with cash inside. This system enables high speed digital financial transactions.
Since the launch, UPI has transformed the way we think about payments. In 2022, close to half the world’s instant transactions passed through Indian phones. India literally tapped its way through 18.68 billion UPI payments in May 2025, moving a jaw-dropping ₹25.14 trillion before the month even ran out. If the current trend holds, UPI could claim nearly 90% of every retail digital rupee spent by the end of 2026-2027. This rising growth is also fueling a boom in the wider digital wallet scene, where UPI sets the pace. Meanwhile, the Reserve Bank of India keeps a watchful eye, adding a layer of regulatory oversight and increasing trust among the users.
UPI : A Simple Breakdown
Sending cash through a UPI app is all about smart tech and user friendly technology doing its job behind the curtain. Digital IDs, mobile networks, and a high tech savvy system together enable instant payments that barely gets noticed. Encryption wraps around the data like a security blanket, keeping prying eyes out until your phone beeps to confirm the transfer.
Every transaction begins and ends with the Virtual Payment Address (VPA) also known as UPI ID. This is a unique ID of the user’s bank account and using this unique ID helps in securing the other sensitive information like the IFSC code or full bank account details as the odds of important financial information leaking out during a money transfer drop sharply.
To authorise a transaction the app asks for a UPI PIN. This is a secret 4 or 6 digit code which is similar to an ATM PIN. This PIN adds a security layer to the transaction, with two-factor-authentication process safeguarding the transaction till the last step, keeping fraudsters locked outside the vault.
The NPCI manages the entire UPI ecosystem, making it an easy to use, smooth and secure way of transaction with integration of all banks and payments applications.
UPI payment methods fall into two categories :
Push Payments: You decide to send cash, either by typing in a virtual payment address (VPA) or by scanning a QR code that someone hands you. Once you hit send and enter your PIN, the money is sent to the other person’s account almost instantly.
Pull Payments: A shop owner or a friend can ping you with a money request. If you agree, you approve the request with your PIN, and the funds are sent from your account to fulfill these requests.
UPI allows a single app to add and transfer funds to several bank accounts, this means you can switch to pay to different users, giving you flexibility and convenience to manage your finances by using one interface.
Top UPI Apps in India
App
Key Features
Unique Selling Point
Best For (User Type)
PhonePe
User-friendly interface, multi-language, bill payments, recharges, QR scan, investments (MFs, Gold, NPS), insurance, loans, PhonePe Switch
Comprehensive “Super App” with wide merchant network
All-round users seeking diverse financial services
Google Pay
Minimalist design, NFC tap-to-pay, bill payments, recharges, expense tracking, voice transactions, tokenization security, loans via partners
Simplicity, strong security, Google ecosystem integration
Security-conscious users, those preferring a clean interface
Rewards for creditworthy users; enables credit usage via UPI.
Affluent credit card users, those wanting to use credit via UPI
Overview of Top UPI Apps in India
An overview of the top UPI apps in India is given below:
1. PhonePe
Launched in 2016, it carries about 600 million users and handled nearly half of the nation’s transactions as of March 2025. The app ticks off more than 330 million payments a day, adding up to over ₹150 lakh crore in a year. PhonePe aims to be a one-stop shop. You can pay bills, recharge your phone, and even jump to other apps such as shopping, food, travel, etc. from the PhonePe app through a feature called PhonePe Switch. Every feature sits behind tight security, with tools like Security shield watching for suspicious activity. Frequent users also rack up cashback and discount rewards, adding a nice bonus to everyday payments.
2. Google Pay
It first showed up in India as Tez before its rebranding for a wider audience. The app now handles a hefty chunk of UPI traffic, roughly 35 to 37% of the market share. Using the app feels nearly effortless due to its clean, minimalist design and robust security. Biometric locks and Google Play Protect offer an enhanced level of security for the users. NFC (near field communication) in GooglePay offers users tap-to-pay, bill payments and voice generated transactions. The app has now expanded to lend personal loans and ticket booking via partnerships. For rewarding the users it uses reward based scratch cards and vouchers for transactions done.
3. Paytm
It began as a mobile wallet but has now emerged as a one-stop digital payment app with a total market share of about 10% to 15%. Paytm combines its wallet with UPI services. Paytm has features like QR payments, ticket bookings, personalized UPI IDs like name@pytes, which helps in ensuring the privacy of your mobile numbers. Safety is maintained by UPI PIN verification and two-factor authentication. Paytm ecosystem includes Paytm Money for investment, Paytm Mall for e-commerce, also it has various services like mutual funds, loans, and even credit cards. Cashback coupons and promo are available round the corner for its wider range of services.
Bharat Interface for Money or BHIM is NPCI’s official UPI app designed for promoting financial inclusion and digital payments in India. It has a multilingual option with over 15 languages inbuilt and is highly optimised for low connectivity areas. Key features of BHIM include “Spend analytics” feature allowing users to track their personal expenses, UPI Lite for small amount transactions without the requirement of PIN. Also it is built to link your credit cards (generally RuPay cards) for hassle free credit card payments.
BHIM is a government supported initiative which serves as the backbone of the UPI ecosystem in India. The main aim is to provide simple, secure and effortless digital payments.
5. Freecharge
It began as a simple prepaid top-up platform and now serves a customer base of 100 million people. Today the app functions as any other UPI application, meaning you can easily send money from your phone in seconds. Freecharge also offers UPI Lite, which lets you pay small amounts even when the connectivity is low, the app also consists of a Credit Line on UPI feature, making merchant payments easier.
The app is supported by Axis Bank and allows you to securely set up your UPI PIN via Aadhaar OTP. Freecharge provides various options for the app users like personal loan, co-branded credit card, or even buy Digital Gold.
6. MobiKwik
It is a “Pocket UPI” app that lets you pay from your wallet balance rather than directly linking your bank account. This allows you to put money directly into your wallet where you can easily monitor your daily expenses.
With Pocket UPI, you can transfer as much as Rs.2,00,000 into your MobiKwik wallet with a daily limit of Rs.1,00,000, making it easier for users to scan a QR and pay instantly. Mobikwik securely detaches your bank account with its secure wallet so that risk of frauds could be evaded. It provides additional services like utility bills, travel booking, recharge etc.
It is for premium class users that have a high credit score, it rewards the credit card payments with “CRED Coin”. CRED UPI helps in linking the users credit cards (especially Rupay) for making UPI payments from one’s credit card directly. CRED also offers “CRED Cash” which allows instant personal loan facility, “CRED Mint” where peers can lend money among themselves.
It is a holistic app that combines UPI and credit card services. Biometric locks and PIN shields your personal data, keeping it secure during transactions.
Advantages of using UPI to make payments are listed below:
Lightning-Fast Payments : The most unique feature of UPI is the instant one click payment helping users with speedy transactions. The money transferred instantly appears in the receiver’s wallet or bank account.
24×7 : UPI has no time restrictions as you can pay anytime, may it be a holiday or non banking hours, as via UPI one has the leverage of making payments 24×7, 7 days a week as compared to primitive money transfer options like NEFT or RTGS.
Super Convenient : UPI apps run smoothly on your smartphone, which means paying for chai, booking a movie ticket, or splitting dinner with classmates can be done in seconds.
Top-Notch Security : People worry about money, and UPI addresses this concern. Every payment is authenticated with UPI PIN before money is sent.
No Need to Share Personal Information : Sharing your bank account details can feel risky. With UPI you simply use your VPA ID or even your mobile number to receive money.
Mostly Free (for Users) : Most of the time, sending cash via UPI costs you nothing, which is a nice perk for students living on pocket money. Most people who send money directly from one bank to another using UPI find the transfer costs zero, but merchants may incur some fees associated for certain types of transactions.
One App, Many Accounts : Switching from one banking app to another for payments might feel irritating sometimes, with most UPI wallets you can stack several accounts into one screen and pick your desired bank for different kinds of payments.
Accepted Almost Everywhere : UPI apps have widely grown across the country making it acceptable by everyone, by just scanning the QR code bills or purchases can be dealt instantly even if you are at a chai stall or buying a gadget from an electronics shop.
Various limits concerning UPI are mentioned below:
1. General Daily Limit
If you’re using UPI the usual way, the National Payments Corporation of India (NPCI) lets you send up to ₹1 lakh per day.
2. Bank-Specific Variations
Not every bank has the same rules. Some lenders quietly trim the ceiling to ₹25,000 or ₹50,000. Check your official banking app to know the exact maximum amount allowed.
3. Higher Limits for Specific Categories (NPCI Guidelines)
When money is transferred to purchase stocks, mutual funds, or even insurance premiums, the limit jumps to ₹2 lakh per day. The same ₹2 lakh ceiling also includes EMI collections for NBFCs and foreign inward remittances.
IPOs, RBI Direct Bonds, schools fees, and Hospital payments have a ₹5 lakh per transaction limit.
4. Transaction Count Limit
UPI isn’t just about how much, it’s also about how often. Most apps keep the daily peer-to-peer transaction limit between 10 and 20 transfers a day.
Basic Tips for UPI App Security
If you want to use UPI in a secure manner, then it is advised that you follow the below tips:
Keep Your UPI PIN Secret : UPI pin acts as the main payment authenticator, so never scribble it on a sticky note or share it with someone.
Double-Check the Payee details : Before proceeding with payments, slow down and look at the name and UPI ID correctly. A tiny typo could send cash to a different account incurring loss.
Beware of Unknown payment request : If a payment request pops up from someone you don’t recognize, hit decline without hesitation.
Don’t scan unknown QR codes : A square barcode can be both a shortcut and a trap. Skip scanning any QR code other than where you need to pay.
Stick to official and updated apps : Apps are powerful, but fraudulent apps can carry viruses. Download your preferred UPI app only from the Play Store or Apple’s App Store.
Layer on Extra Security : Keep your smartphone secure using a pin, app lock, fingerprint scan, or face ID to prevent unauthorized access.
Skip Public Wi-Fi : A private home network or using your mobile data to make payments is safer.
Dispute Resolution : If a payment is mistakenly done to a different account, tap into the transaction history to dispute it right away. You can also call your app’s customer support or dial NPCIs helpline (1800-120-1740) for resolution.
Conclusion
Unified Payment Interface (UPI) has transformed the Indian money transfer ecosystem, with a highly secure, fast, and convenient digital transaction system. With evidently massive online transactions and wider acceptance UPI is taking over the traditional payment methods. Features like UPI lite, ticket booking, UPI’s inbuilt credit services are indicating the ongoing innovation. UPI’s adaptability and reliability among the users making it the next big thing.
Frequently Asked Questions (FAQs)
What shall be done if the UPI payment fails?
No worries, your money is safe with the bank and you try making the payment after some time.
Can multiple bank accounts be linked to one UPI App?
Yes, majorly all the UPI apps can integrate multiple bank accounts in one application and you can even select the bank which you want to use for your next payment.
Can UPI be used for international payments as well?
UPI is prominently used in India only. However, NPCI recently launched UPI Global Acceptance, a feature that enables users to make QR-based payments at select international merchant locations.
What is UPI lite and when shall it be used?
UPI lite is a type of a wallet, in which small payments are done without the requirement of the PIN.
How to judge which UPI app is the best?
It depends upon the app’s interface and services offered. For a clean interface and easy to use application one shall consider GooglePay, Phonepe for multiple bill payment options, CRED for credit services.
Have you ever had trouble understanding the difference between gross margin and net margin? While they may sound alike, these two financial metrics serve distinct purposes and provide different insights into a business’s profitability.
In this blog, we will understand in simple language what is net margin, what is gross margin, and why it is important for every business to know the difference between gross margin and net margin.
What is Gross Margin?
Gross margin is an important financial metric that shows how much profit your company makes by selling its products or services, after deducting direct costs (COGS – Cost of Goods Sold) as a percentage of the total revenues. This margin shows only the profit that comes directly from the sale of the product, all other expenses (such as salary, rent, tax etc.) are not included in it. Gross margin helps in understanding how much profit a product or service is generating and whether the decisions related to pricing or production are correct or not.
Gross Margin Formula:
Gross Margin (%) = [(Total Revenue – Cost of Goods Sold) ÷ Total Revenue] × 100
Example : Suppose your company made sales of ₹10,00,000 and the total cost of manufacturing and selling the products (COGS) was ₹6,00,000.
This means that for every ₹100 sold, you are left with ₹40 as gross profit.
What all is included in COGS?
COGS i.e. Cost of Goods Sold includes all the direct expenses that are required to manufacture a product or provide a service:
Raw Materials
Direct Labor Costs
Manufacturing Costs (Factory Overheads)
Packaging and Shipping Costs (if it is related to product delivery)
The lower the COGS, the better the gross margin.
What is the role of Gross Margin in business?
In deciding the pricing strategy : If the gross margin is low, then either you have to increase the price or reduce the cost.
In understanding product performance : By determining products with high gross margins, you can focus more on it.
Help in Inventory Management : You can optimize your inventory on the basis of COGS.
What is Net Margin?
Net margin is a financial metric that shows how much profit your company has earned after subtracting all expenses from total sales as a percentage of total sales. This includes not only product-related costs (COGS) but also operating expenses, marketing, interest, taxes and all other costs.
Net margin is often called the bottom line, because it comes at the end of the report and reflects the overall profitability of the company.
Net Margin Formula :
Net Margin (%) = (Net Profit ÷ Total Revenue) × 100
Example : Suppose the total sales of your company is ₹10,00,000. Out of this, the total expenses including cost of products, operating expenses, salary, rent, interest and tax is ₹9,00,000.
So Net Profit = ₹10,00,000 – ₹9,00,000 = ₹1,00,000
Both gross margin and net margin are important but they are used in different situations. It is wise to use the right metric at the right time.
1. If you are a product manager or sales head
Gross margin is the most important tool for you. Because it shows how much profit is left after making and selling a product. This metric plays a direct role in pricing strategy, discount planning, and supplier negotiation.
Example: If a T-shirt has a gross margin of 60% and another has 30%, then you can immediately understand which product to promote.
2. If you are a business owner or investor
Net margin should be the main metric you look at. It tells how much net profit the entire business has earned, that is, what is the actual return on your investment.
Example: A company with a gross margin of 70% but a net margin of only 5% means that operating expenses or taxes are very high, which can be a red flag in the long term.
Case study: The truth about a D2C brand
A small D2C clothing brand was selling T-shirts for ₹1,000 through Facebook Ads. Their gross margin was 50%, that is, a profit of ₹500. But when ad spend, packaging, returns, and customer service were added the net margin was -10%, that is, signifying an overall loss.
Why Both Margins Matter in Financial Analysis?
It is beneficial to understand gross margin vs net margin separately, but when you analyze both together, then the real health of your business comes to the fore. They do not just tell the profit figure, but tell where the money is coming from and where it is going.
The whole story of profitability : Gross margin shows how much basic earnings are being made on your products or services – that is, how much is left after deducting direct cost. On the other hand, net margin focuses on overall profitability – it also includes all expenses like salaries, rent, tax and interest. If you focus only on gross margin, then it is possible that there is a loss in net and you do not even know.
Deep understanding of expenses : If the gross margin of a company is good but the net margin is weak, then it means indirect expenses can be significant. These are signals that you need to optimize your expenses.
Long-term growth and investor confidence : Net margin tells how sustainable a company is in the long term. Companies with high net margins are not only stable, but investors are also more interested in them because they are considered to be efficient overall.
Both metrics are important for better decisions : Whether you are running a startup or working in an established business – looking at both margins together makes your decision-making smarter. This helps you know which area needs improvement – product pricing, cost control or operations.
Limitations of Gross and Net Margin
Gross margin and net margin help you understand your profitability, but both these metrics have their own limitations. Relying only on these figures and judging the financial health of the entire company can sometimes be misleading.
Just numbers, do not tell the reason : Gross or net margin do not tell why there is income or loss.
Interpretation varies according to the industry : Margin expectations can differ widely across industries. Service-based companies often have higher margins because they usually incur lower overhead and production costs. In contrast, manufacturing businesses typically face higher expenses for materials, labor, and equipment, which can lead to lower profit margins.
One-time expenses/earnings are also included : If any exceptional income or heavy expenditure has happened for one time in the net margin, then it can distort the margin.
The effect of management decisions is not visible immediately : The effect of cost-cutting or growth strategy takes time to reflect in margins.
Many investors make some basic mistakes while interpreting financial data. These mistakes can affect profitability in the long run:
Considering Gross margin and Net margin as the same : The biggest mistake is not understanding the difference between these two margins. Many people think that if the gross margin is good, then the business is profitable. Whereas the difference between gross margin and net margin shows that gross margin is just the production related expenses, but net margin shows the true picture of the entire operation.
Estimating profit by looking at gross margin only : Gross margin may look good, but if operating and indirect expenses are high, then net margin can be very low or negative. This can hide the real profitability of the company.
Relying on only one metric : To understand profitability, it is important to analyze not just gross or net margin, but both together. This reveals both the strengths and weaknesses of the business.
Conclusion
Both gross margin and net margin are important financial metrics for understanding the profitability of a business. But they serve different purposes: gross margin gives you an idea of efficiency of a company’s core operations, while net margin shows the financial health of the entire company. A smart business leader analyzes both of them together to make accurate business decisions. If you learn to read and analyze margins of the companies correctly, then you can make informed investment decisions.
S.NO.
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With inflation on the rise and job stability becoming increasingly uncertain, building passive income streams has become more essential than ever. Whether you’re a working professional, student, or homemaker, having an additional income source can offer financial security and peace of mind.
In this blog, we will talk about 50 best passive income ideas in India, which you can easily start in 2025. From digital ventures to investment-based earnings and physical assets, these ideas cater to different needs, time commitments, and capital levels, so you can find what suits you best.
What is Passive Income?
Passive income is income that comes in continuously after the initial setup effort like rent from a property or returns from a mutual fund. But it’s important to understand that no income stream can be 100% passive. Every income source takes time, effort or money to set up. This is not a get-rich-quick scheme. Most passive income sources fall into three categories:
Asset-based: like real estate, mutual funds
Content-based: like blogging, YouTube
System-based: like affiliate funnels or automated tools
With the right perspective, the benefits of passive income can be realized in the long term.
50 Passive Income Ideas in India
S.No
Passive Income Idea
Description
1
Stock Market Investing
Invest in long-term stocks for dividends and capital appreciation.
2
Mutual Fund Distributor
Become a certified mutual fund distributor and earn commissions.
3
Real Estate Rental
Rent out property for steady monthly income.
4
REITs (Real Estate Investment Trusts)
Invest in property via REITs and earn dividends.
5
Digital Gold Investment
Hold gold digitally for long-term appreciation.
6
P2P Lending Platforms
Lend on regulated platforms and earn interest.
7
Dividend Stocks
Build a portfolio focused on dividend-paying companies.
8
Government Bonds
Invest in RBI/SGB bonds for assured returns.
9
Covered Call Writing
Earn premiums by writing calls on your stocks.
10
Arbitrage Mutual Funds
Exploit market inefficiencies via hybrid funds.
11
High-Interest Digital Savings Accounts
Park idle money in high-interest savings apps.
12
YouTube Channel (Automated)
Create evergreen content and monetize passively.
13
Blogging with Affiliate Links
Write SEO blogs and earn through affiliate sales.
14
eBook Publishing
Self-publish eBooks on Amazon or other platforms.
15
Print-on-Demand Products
Sell custom products via platforms like TeeSpring.
16
Instagram Theme Pages
Grow niche pages and monetize via sponsors.
17
Online Course Sales
Build and sell courses on Skillshare, Udemy etc.
18
Dropshipping Store
Automate sales using third-party fulfillment.
19
Subletting Co-Working Desks
Rent larger spaces and sublet desks to freelancers.
20
Domain Name Flipping
Buy trending domains and sell at a profit.
21
Newsletter Sponsorships
Grow email lists and sell direct ad slots.
22
App-Based Cashback & Referral Income
Use cashback apps for deals & referrals.
23
Voiceover Licensing
Upload voice samples to stock platforms.
24
Stock Photography & Video Licensing
Sell high-quality images/videos on stock sites.
25
NFT Royalties
Earn from resales of your digital art/NFTs.
26
Online Data Set Licensing
Sell curated data sets for AI/ML training.
27
Audiobook Narration & Publishing
Narrate or publish audiobooks on Audible.
28
Create & Sell WordPress Themes
Build themes and sell via marketplaces.
29
SaaS Tools with Freemium Model
Build a simple tool and charge for the premium version.
30
PLR Content Reselling
Repackage and resell private-label content.
31
Voice Cloning Software Licensing
Build voice models and license to creators.
32
Used Book Resale Automation
Set up used book resale via Amazon seller tools.
33
ATM/Vending Machine Hosting (Space Owner)
Lease space to ATM or vending machine companies.
34
Build & Sell Financial Tools
Create and sell Budgeting or SIP calculators or embed them
35
Google News Blog on Finance
Monetization by bringing traffic from realtime finance news
36
Automated Investment Bots
Hands-free investment by investing in robo-advisory bots
37
Personal Finance Podcasts
Sponsorship deals and ad revenues from Spotify or YouTube
38
Budget Tour Planning Portal
Revenue from offering low-budget friendly travel plans
39
Local Business Automation (White-Label SaaS)
Help small businesses automate using SaaS tools
40
Online Ad Space Arbitrage
Buy low CPC traffic, send to high-paying affiliate offers.
41
Rent Out Gaming Consoles
Lease PlayStations, VR gear etc. on hourly basis.
42
Language Translation Assets Licensing
Create language assets and license to edtechs.
43
Sell Website Templates or UI Kits
Upload on ThemeForest or Creative Market.
44
Solar Panel Leasing
Lease your rooftop for commercial solar use.
45
Start a Podcast
Monetize via sponsorships, premium episodes
46
Sell Canva Templates
Earn by selling ready-made design templates.
47
Social Media Influencer
Build a niche audience and earn brand income.
48
Online Coaching or Consulting
Increase reach through selling record sessions as courses
49
Rent Out Your Vehicle
Give cars or bikes on lease to gig workers.
50
Rent Out Mini Warehouse
Let others use your storage space.
1. Stock Market Investing
Investing in the stock market is a popular and long term passive income source. In this, you buy shares of companies and earn from their growth or dividends. You have to understand the financial health of the companies, sector analysis and market trends. There is a possibility of higher returns but the risk is also the same. It is wise to invest in SIP or Bluechip Stocks for the long term.
2. Mutual Fund Distributor
You can earn passive income by becoming a registered mutual fund distributor with AMFI. Once registered, you earn commissions whenever clients invest in mutual fund schemes through you. This income can become recurring as long as clients continue their SIPs. It’s an ideal option for those with a network or basic financial knowledge, and the income grows as your client base expands. SIPs themselves are also great for low-risk, long-term investors seeking wealth creation.
If you have a property, then you can earn stable monthly income by renting it out. This income is stable and inflation-proof. With property management facilities, you can make this income almost passive. Commercial properties can give higher returns than residential ones.
4. Real Estate Investment Trusts (REITs)
REITs are for those who want to invest in real estate without buying a property. These are listed on the stock exchange and you can buy them like shares. They give the rental income from the property to investors in the form of dividends. It is a liquid and low-risk option.
5. Digital Gold Investment
Through digital gold, you can start investing from as little as ₹1 and it is stored in a secure vault in your name. It can be purchased from online platforms like PhonePe, Google Pay etc. Digital gold can be converted into physical gold in the future. It is also liquid and is considered a good option for long term wealth.
6. P2P lending platforms
On P2P (Peer-to-Peer) lending platforms like LenDenClub or Faircent, you can earn interest income by lending. Here you become an investor giving personal or business loans and can get good returns (10-15%). However, this option is a bit risky, so invest only after checking the right platform and credit rating.
7. Dividend stocks
Stocks that pay regular dividends are a good source of passive income. The financial performance of these companies remains stable and they distribute a part of their profits among investors. Dividend income is taxable, but with a good portfolio it can give good returns annually. Companies like HDFC, ITC come in this category.
These instruments issued by the government are considered reliable for fixed interest income. They have very low credit risk and predictable returns. In portfolios where safety and stability are given priority, government bonds prove to be a trusted option.
Passive income can be generated by selling call options on owned stocks in the form of option premium. This method provides steady return with limited downside risk. Combined with disciplined investing and good stock selection, this strategy is a smart way to utilize capital.
These funds capitalise on the price gap between the equity and derivatives markets and offer low-risk returns. With arbitrage opportunities, these funds offer relatively stable and tax-efficient returns, suitable for conservative portfolios.
11. High-Interest Digital Savings Accounts
Operated by neo-banks and fintech platforms, these accounts offer higher interest rates than traditional banks. Features like zero maintenance charges, auto-sweep options and instant liquidity make them a practical way to earn passive returns on idle cash.
12. YouTube Channel (Automated)
Once content is created using AI tools or faceless video formats, a YouTube channel can generate recurring income from advertising, affiliate links and sponsorships. Automated channels with niche-based or evergreen topics can create a strong earning stream over time.
13. Blogging with Affiliate Links
Niche-focused blogs can promote affiliate products through informative content. Commission is generated when purchases are made from the links provided by readers. The flow of passive income from SEO optimized evergreen articles continues for years.
14. eBook Publishing
After launching an eBook on self-publishing platforms like Kindle, one can earn continuous income in the form of royalty. An eBook written for a good quality and targeted audience can sell repeatedly for a long time, especially in popular niches like finance, productivity or education.
15. Print-on-Demand Products
Custom designed T-shirts, mugs, or stationery can be uploaded on POD platforms to sell products without handling inventory. As soon as the order comes, print, pack and delivery happens automatically, due to which passive margin starts being received on every sale.
16. Instagram Theme Pages
By building an audience on pages with specific interest (travel, quotes, fitness), steady income can be generated from sponsored posts and affiliate links. When consistency and engagement rate is better, brands themselves contact for outreach.
17. Online Course Sales
Skill-based or subject-specific courses, once created, can be sold on platforms like Udemy, Teachable or personal websites to create automated income. High-quality content and structured modules for learners keep the course sellable for a long time.
18. Dropshipping Store
An eCommerce model where there is no need to stock products yourself. The supplier directly ships to the customer upon receiving an order. Platforms like Shopify and niche-specific targeting can create a passive income stream without any inventory investment.
19. Subletting Co-Working Desks
Unutilized workspaces or extra desk spaces can be rented out to startups or freelancers on short-term rental to generate recurring income. Location advantage and flexible pricing can ensure steady occupancy and good returns.
20. Domain Name Flipping
High-potential domain names can be bought cheaply and later sold at a premium rate. Domains with brandable, SEO-friendly or trending keywords can prove to be valuable assets for future resale.
21. Newsletter Sponsorships
Niche-specific newsletter audiences can be built to generate recurring income through direct brand sponsorships and affiliate promotions. High open-rate and loyal readership increase monetization potential manifold.
22. App-Based Cashback & Referral Income
Using offers on apps like Cred, Magicpin, Paytm and adding friends through referral links earns passive income in the form of cashback and rewards. This income can be increased with consistent usage and smart referrals.
23. Voiceover Licensing
Posting pre-recorded generic voiceovers (welcome messages, explainer scripts, AI prompts) on licensing platforms and selling licenses repeatedly can earn recurring royalty. Good audio quality and clear articulation make it scalable.
24. Stock Photography & Video Licensing :
Professionally clicked images and short videos are uploaded on sites like Shutterstock or Adobe Stock to generate passive income. Once uploaded, these contents are licensed multiple times and bring recurring revenue.
25. NFT Royalties
Digital art or collectibles are minted as NFTs and set embedded royalties upon resale. The creator receives a percentage royalty each time a secondary sale occurs, creating a long-term passive flow.
26. Online Data Set Licensing
Curated datasets (text, image, audio) can be licensed to AI companies or researchers to generate recurring income. Niche-specific or cleaned datasets attract high-value buyers.
27. Audiobook Narration & Publishing
Self-narrated or recorded audiobooks from professional voice artists can be published on platforms like Audible. Royalties are earned per listen, allowing content to be created once and provide a passive return for years.
28. Create & Sell WordPress Themes
Custom-designed WordPress themes can be sold on marketplaces like ThemeForest to generate recurring income. High-speed, SEO-friendly and niche-specific designs ensure better sales and long-term downloads.
29. SaaS Tools with Freemium Model
A useful SaaS tool (such as invoice generator, SEO checker) can be launched in a freemium structure to generate recurring revenue through paid upgrades. Premium offerings such as automation, team features or API access create a stable income flow.
30. PLR Content Reselling
Ready-made PLR (Private Label Rights) ebooks, videos or courses are rebranded and resold. By selecting a high-converting niche, this can be converted into a passive income source through email funnels or affiliate platforms.
31. Voice Cloning Software Licensing
AI-based voice cloning tools can be developed and offered in a monthly or yearly license model. Their demand is growing rapidly in the media, audiobooks and virtual assistants industries.
32. Used Book Resale Automation
Old or second-hand books can be sourced in bulk and sold on Amazon or Flipkart through resale automation systems. With barcode scanners and listing tools, this becomes a completely systemized passive hustle.
33. ATM/Vending Machine Hosting (Space Owner)
Fixed passive rental income can be earned by renting out empty space in a busy location to ATM or vending machine providers. Long-term lease and maintenance-free setup make it hassle-free.
34. Build & Sell Financial Tools
Excel-based or web-based financial calculators, loan planners or SIP trackers can be developed and sold. Affiliate deals and embedded sales target finance bloggers and YouTubers to generate recurring income.
35. Google News Blog on Finance
Create a Google News-approved finance blog to publish trending news, policy updates and insights. AdSense and sponsorship deals generate a reliable passive revenue stream.
36. Automated Investment Bots
Algorithm-based bots (for equity, crypto or mutual funds) are developed and offered on a subscription or performance fee model. Transparency and risk management maintain trust and customer retention.
37. Personal Finance Podcasts
Launch a weekly podcast on finance-related topics and generate income from sponsorships, affiliate promotions and listener donations. Niche topics (tax saving, credit score, retirement) build audience loyalty.
38. Budget Tour Planning Portal :
Launch a website with curated budget travel plans and DIY itineraries for low-cost travel lovers and generate recurring income from affiliate bookings and consultation fees. Easy to scale with SEO and content marketing.
39. Local Business Automation (White-Label SaaS)
Ready-made automation tools (billing, CRM, SMS alerts) for small businesses can be white-labeled and resold. Local resellers or agencies earn monthly recurring revenue by selling it under their brand.
40. Online Ad Space Arbitrage
Arbitrage income is generated by buying traffic from low-CPC countries and redirecting it to high-paying ad networks. Scalable automation tools and precise targeting make this a strong model for digital revenue.
41. Rent Out Gaming Consoles :
Passive income can be generated by renting out gaming consoles like PlayStation, Xbox on an hourly or daily basis. College hostels, birthday events or local gaming cafes are ideal customers.
42. Language Translation Assets Licensing :
Recurring licensing fees are earned by licensing pre-built glossaries, term-banks and translation memory files to companies or freelance translators. It is highly valued in niche areas like legal, medical and finance.
43. Sell Website Templates or UI Kits
Passive design income is generated by selling pre-designed HTML templates, Figma UI kits or WordPress themes on online marketplaces. niche-specific designs (e.g. SaaS, blogs, portfolios) are high-converting.
44. Solar Panel Leasing
By installing solar panels on unused rooftops, electricity can be leased to nearby businesses or homes. Government subsidies and long-term PPAs (Power Purchase Agreements) make this financially viable.
45. Start a Podcast
Start a topic-specific podcast (e.g. finance, health, productivity) to generate revenue from brand partnerships, affiliate ads, and listener donations. Consistency and niche focus build a loyal audience base.
46. Sell Canva Templates
Customized Canva templates (Instagram posts, resumes, planners) can be sold on platforms like Etsy or Gumroad. One-time effort leads to long-term passive income through downloads.
47. Social Media Influencer
Develop a niche audience (fitness, tech, parenting) and generate income from sponsored posts, affiliate links, and product launches. Authentic engagement and micro-niche targeting help in sustainable growth.
48. Online Coaching or Consulting
Skill-specific coaching (e.g. Excel, digital marketing, stock trading) can be delivered in recorded video format to generate recurring access fees. Lead magnets and email funnels provide consistent client flow.
49. Rent Out Your Vehicle
Passive earning can be earned by renting out a car or two-wheeler on an hourly, daily or subscription basis. Self-drive rental platforms like Zoomcar, Revv, or Drivezy allow vehicle owners to monetize unused vehicles securely. With proper insurance coverage and verified users, this can become a steady, low-effort revenue stream.
50. Rent Out Mini Warehouse
Extra garage or vacant property is rented out to small businesses or urban tenants for storage use. Monthly rent and zero operational involvement make this an ideal passive rental income model.
How to Choose the Right Passive Income Idea for You
Choosing the right passive income source is a smart decision that takes into account several factors:
Time Requirement: For those who have less time, investment-based options (like dividend stocks or government bonds) are more beneficial. If time is available, then one can focus on content creation or creating and selling digital services.
Risk bearing capacity: If you want a secure income, it is better to choose low-risk options. Whereas those who want to earn more will have to focus on high-risk-high-reward options.
Interest and skills: Starting with the field in which you have some knowledge or interest will be easy and sustainable.
Scalability and automation: A passive income source that does not demand substantial effort repeatedly is better.
Tax and legal aspects: The tax regulations governing different passive income sources can different. Decisions should be taken only after understanding this.
There are many smart and scalable ways to earn passive income today; whether it is from the stock market, selling digital products, or owning real assets. Once set up with proper planning and a little hard work, these sources keep generating passive income for a long time. Everyone should choose a passive income idea according to their skills, budget, and time. With gradual growth, this side income can become a strong financial backup. The real key is to move in the right direction while constantly learning.
S.NO.
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Have you ever felt confused when the salary credited to your account doesn’t match the amount mentioned in your offer letter? You’re not alone! The large figure you see in your job offer is usually your gross salary, while the actual amount you receive each month, i.e., your net salary is often quite different.
Understanding the difference between gross and net salary is crucial for effective budget planning and tax planning. In this blog, the difference between the two has been explained in simple language with all the calculations involved.
What is the Gross Salary?
Gross salary is the total salary earned by an employee, including all allowances and bonuses before any taxes or other deductions. This is the amount offered by the company, which includes Basic Pay, House Rent Allowance (HRA), Dearness Allowance (DA), Special Allowances, Performance Bonus, etc.
For example, if someone’s gross salary is ₹50,000, it means that the total earnings for the month are ₹50,000, even if the amount received in the account is less than this.
Gross salary is often also linked to CTC (Cost to Company), but CTC may also include some additional benefits like leave encashment, gratuity, reimbursement of medical expenses, etc.
Gross salary in the salary slip is the amount from which subsequent deductions are made, such as PF, professional tax and income tax.
Important points :
Gross Salary = Basic + DA + HRA + Allowances + Bonus
Income tax, PF, and other deductions are deducted from gross salary
Net salary represents the actual amount that is transferred to the bank account every month. It is also called take-home salary. It is slightly less than the gross salary because some necessary deductions are made from it.
For example, if someone’s gross salary is ₹50,000 and a total deduction of ₹8,000 is made from it, then the net salary will be ₹42,000, and this is the amount that comes into the account.
Net salary means the amount left after taking out all the necessary deductions from the gross salary. This salary is one’s actual disposable income, which an employee uses for household expenses, savings and investment.
Important points :
Net salary = Gross salary – All necessary deductions
Represents actual amount transferred to the bank account
Gross Salary vs Net Salary: Key Differences
Point
Gross Salary
Net Salary
Definition
The total salary earned by an employee including all allowances and bonuses, but without any deductions.
The salary that is transferred to the bank account after all the necessary deductions, such as tax, PF, insurance etc. are deducted from gross salary.
Included Components
Basic Salary, HRA, DA, Travel Allowance, Medical/Special Allowance, Bonus/Incentive
Balance amount after deducting professional tax, EPF contribution, income tax (TDS), medical or group insurance deductions etc.
It is important for every employee to have a proper understanding of their salary structure so that it is easy to estimate the in-hand salary and deductions. You can easily calculate your gross and net salary yourself by following the steps given below.
Step 1 : Calculating Gross Salary
Gross salary usually consists of the following components:
Components
Details
Basic Salary
Part of fixed monthly salary
HRA
Rent Allowance (if applicable)
Other Allowances
Travel, Medical, Special Allowance etc.
Performance Bonus
Based on quarterly or annual performance
Formula: Gross Salary = Basic + HRA + Other Allowances + Bonus
Example : If Basic is ₹28,000, HRA is ₹10,000 and other allowances are ₹7,000, then
Gross Salary = ₹45,000
Step 2 : Calculation of Net Salary
Net salary is the amount that is credited to your bank account after all applicable deductions are made from the gross salary.
Deductions that reduce gross salary to net salary typically include:
Deduction Type
Average Rate/Price
EPF(Employees Provident Fund)
12% of (Basic salary + DA)
TDS (Tax Deduction)
As per income tax slab
Professional Tax
This is a state-level tax, which is applicable only in some states. Its amount varies in every state.
Health/Group Insurance
Deduction as per company policy
Formula: Net Salary = Gross Salary – (All valid deductions)
Example: If gross salary is ₹45,000 and total deductions are ₹6,000, then
Net Salary = ₹39,000
Common Salary Slip Terms Explained
There are many terms in the salary slip which have a direct impact on the gross and net salary. All the main terms are explained in simple language below:
CTC (Cost to Company) : CTC (Cost to Company) is the total amount a company spends on an employee in a year. In addition to the gross salary, CTC includes components like the employer’s contribution to PF, gratuity, health insurance, performance bonuses, and other benefits.
Basic Salary : The main part of the salary, on which EPF and many other allowances are based. It is taxable and is usually 35-50% of the gross salary.
HRA (House Rent Allowance) : Rent allowance, which is given to employees living on rent.
DA (Dearness Allowance) : Dearness allowance which is given to the government or some private sector employees to reduce the effect of inflation.
TA (Transport Allowance) : This allowance is given to cover the expenses incurred on travel. To some extent it can also be tax free.
Special Allowance / Other Allowance : These are fixed allowances which are used to cover performance bonus, mobile, fuel, or other expenses. It is usually taxable.
EPF (Employees’ Provident Fund) : A part of the basic salary is deposited in the PF account by both the employee and the company. It is a long term savings scheme.
Professional Tax : It is a tax imposed by the state government in some states. Its amount and rules are different in every state.
TDS (Tax Deducted at Source) : The company deducts direct tax from your salary as per the tax slab fixed by the government and deposits it with the government.
Gratuity : The retirement benefit amount received by the employee after working in a company for more than 5 years. It is a part of CTC, but does not come in the in-hand salary.
LTA (Leave Travel Allowance) : The allowance given for travel expenses. Based on certain conditions, it can be tax free when the employee submits travel receipts.
Bonus / Incentive : This is a performance-based payment, which is added to the salary slip from time to time. Performance bonus inflates gross salary only in the month/quarter of payout; annual CTC already includes the target bonus.
Medical Insurance Premium : If the company provides health insurance, then its premium is also included in the CTC and can sometimes be deducted from the salary.
Conclusion
It is very important for every employee to understand the difference between gross and net salary. Often we get excited after seeing a big amount in the offer letter, but the actual in-hand amount turns out to be less. Therefore, it is important to pay attention not only to the CTC but also to the salary breakup. A clear understanding of your salary structure helps you plan your monthly budget more effectively, make smarter saving and investment decisions, and stay prepared for taxes and other deductions.
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Earlier, whenever you went out for shopping or dinner, you probably carried physical cash to make payments. However, with the launch of UPI or Unified Payment System by NPCI (National Payments Corporation of India) in 2016, things have changed drastically. Now, you can make all kinds of payments through your UPI mobile application. But sometimes the payment gets stuck. In that case, the user must know how to file a UPI complaint.
In this blog, we will explain to you how to register a UPI complaint and what details are required to raise a complaint.
What is UPI Payment?
UPI or Unified Payment Interface allows a user to make payments on a real-time basis. This system was developed by the National Payments Corporation of India (NPCI) in 2016. NPCI is regulated by the Reserve Bank of India. This system has changed the landscape of the Indian payment system. One can easily transfer the funds using their mobile 24*7, UPI even works on holidays.
Features of UPI Payment
The key features of UPI are as follows:
Immediate Transfer: One can easily transfer money in real time, which makes UPI a preferred way of making payments today.
Convenient: An individual doesn’t need to worry about carrying physical cash or going through the hassle of finding change, as UPI allows you to transfer the exact amount easily.
Link Multiple Bank Accounts: One can easily link their multiple bank accounts to a single UPI ID.
QR Code: Using UPI allows one to easily transfer money without sharing any bank details. Scanning a QR code, one can instantly transfer the money.
Cost-efficient: UPI transactions are free for most users, especially those involving direct bank-to-bank transfers. However, a 1.1% interchange fee may apply to transactions over ₹2,000 made using Prepaid Payment Instruments (PPIs) such as digital wallets. This fee is paid by the merchant, not the customer.
Secure: The use of two-factor authentication allows you to securely transfer money to other users.
The common issues with the UPI payments are as follows:
Failed Transaction: In a failed transaction, the amount is deducted from the bank of the payer, but it does not get credited to the bank of the receiver. It generally happens because of network errors or server issues.
Payment Decline by Bank: Your payment can be declined by the bank because of several reasons, such as invalid UPI PIN, insufficient balance, etc.
Failed UPI Registration: There are some cases when the user is not able to register themselves on the UPI application, due to inactive SIM, etc.
Daily Limit: UPI generally has a daily transaction limit. If the limit has been exceeded by the user, then further payments cannot be made.
Bank Server: Sometimes the bank server does not respond or faces some issue; during such times, the payments cannot be made.
How to Register a UPI Complaint?
One can easily raise a UPI complaint following the mentioned steps:
UPI Application: The UPI application, which you were using, allows you to file a complaint and report fraud through the in-app complaint or help section.
NPCI Website: Alternatively, you can visit the website of NPCI, and go to the “Dispute Redressal Mechanism” section and file your complaint.
Customer Care: One can reach out to the customer support department of the company offering UPI services via the helpline provided on their website or application.
Bank: The user can also contact their banks regarding the rejection of UPI payment and can file a complaint for the same.
There are a few details that one should keep handy while registering a UPI complaint.
Registered Mobile Number.
Transaction ID or UTR (Unique Transaction Number).
Date and Time of Transaction.
Amount of Transaction.
Details of the beneficiary account to which you were making the payment.
Error message or screenshot.
Having these details handy can make filing a UPI complaint much easier.
Checking Status of UPI Complaint
One can easily track the status of their UPI complaint online by following the steps mentioned below:
NPCI Website: To check the status of a complaint made on the NPCI website, one can click on the tab “Click here to check the complaint status” and choose their product type, bank and enter CRN number.
UPI Application: If the complaint has been made through the UPI application, then one can track the status of their complaint on the help and support section of the UPI application.
Bank: If you have filed a complaint through the bank, then you can visit the branch or call their customer support number and ask them about the status of your complaint.
On a concluding note, UPI, or Unified Payment Interface, has transformed the way people make payments and shop in India. Now you do not need to carry physical cash while travelling; you can just pay or transfer an amount using the UPI application installed on your mobile phone. However, sometimes the users also face minor difficulties, such as payment being deducted but not credited to the receiver’s account, etc. In this case, you do not need to worry and can easily file a complaint through various modes and get a resolution. However, it is advisable to carefully select a reliable UPI application to avoid any fraud.
Frequently Asked Questions (FAQs)
What is the full form of UPI?
UPI refers to Unified Payment Interface, which NPCI launched to digitise the payment ecosystem.
What type of UPI complaint can I raise?
One can raise complaints about money debited from one’s bank account but not credited to the receiver’s account, a failed transaction, a payment made to the wrong person, or an unauthorized transaction.
Where can I file a complaint about UPI payments?
One can file a complaint on the official website of NPCI, the UPI application, and with your bank.
Where can you check the status of a UPI complaint?
The status of the UPI complaint can be checked on the official website of NPCI or the UPI application
Where to escalate the UPI complaint?
The UPI complaint can be escalated to your bank grievance portal, NPCI portal, or the banking ombudsman.
Mastering personal finance is key to building wealth, avoiding debt, and achieving financial freedom. The right books can transform your mindset and guide you toward smarter money decisions. Here, we’ve handpicked the 10 best personal finance books that offer timeless strategies and practical insights to help you take charge of your financial future.
In this blog, we will give you an overview of the top 10 personal finance books.
Top 10 Personal Finance Books
S.No.
Book Name
Year
Author
Rating (Goodreads)
1
The Intelligent Investor
1949
Benjamin Graham
4.3
2
Let’s Talk Money
2018
Monika Halan
4.3
3
Rich Dad Poor Dad
1997
Robert T. Kiyosaki
4.1
4
Common Stocks and Uncommon Profits
1958
Philip A. Fisher
4.2
5
The Dhandho Investor
2007
Mohnish Pabrai
4.3
6
The Nature of Money
2011
Geoffrey Ingham
3.9
7
One Up on Wall Street
1989
Peter Lynch
4.3
8
Think and Grow Rich
1937
Napoleon Hill
4.2
9
Coffee Can Investing
2018
Saurabh Mukherjea
4.2
10
The Total Money Makeover
2003
Dave Ramsey
4.3
Overview of the Top Personal Finance Books
1. The Intelligent Investor
This book was written by Benjamin Graham and was published in 1949. Benjamin Graham is known as the father of value investing. In this book, he explains key characteristics of an investor that separates them from a speculator. The book emphasises long-term investing and suggests that an intelligent investor ignores the mood of the market and only trades when there are favourable prices. He said investing is not a get-rich-quick scheme but a serious business. Considered a must-read by many, The Intelligent Investor remains one of the most influential finance books ever written.
2. Let’s Talk Money
The book was written by Monika Halan, who is a renowned financial journalist. The book is divided into three parts: building the foundation of a financially sound life, creating wealth, and getting wealthy. This book is written in an easy to understand language that can help an individual make informed decisions related to different stages of life. She covers essential topics such as budgeting, emergency funds, insurance, retirement planning, and choosing the right investment products suited to individual goals and risk profiles.
3. Rich Dad Poor Dad
This book was written by Robert T. Kiyosaki and was published in 1997. In this book, the author has explained his life experience of the difference in mindset between his biological father, who was poor and the father of his best friend, who was very rich. Through their contrasting approaches to money, he highlights the difference in mindset between working for money and making money work for you. Kiyosaki encourages readers to break free from the traditional cycle of earning, spending, and saving, and instead focus on building assets that generate passive income. This book emphasises how financial literacy and self-belief help you in creating wealth.
4. Common Stocks and Uncommon Profits
The book was first published in 1958 and was written by Philip A. Fisher. In this book, Fisher focuses on a growth-oriented approach to investing, which was based on qualitative analysis, i.e., analysing company’s management, its capacity for innovation, competitive advantages, and long-term vision. It remains a must-read for anyone interested in growth investing and learning how to identify outstanding companies before they become widely recognized.
5. The Dhandho Investor
The book was written by Mohnish Pabrai, who was the founder of Pabrai Investment Fund. The book was published in 2007. The writer introduces the “Dhandho” approach of investing, which means investing in simple, predictable businesses. According to the book, one should not invest in futuristic ideas; instead, invest in businesses which have a proven track record. The principles of investing discussed in this book are similar to those used by Benjamin Graham and Warren Buffett.
6. The Nature of Money
Written by Geoffrey Ingham and published in 2004, this book offers a unique and thought-provoking perspective on what money truly is. Ingham challenges the traditional economic view of money as merely a neutral medium of exchange. Instead, he explores money as a social construct, emphasizing its role in shaping relationships of credit and debt within society. This book dives deep into the sociology and politics behind money, providing readers with a richer, more nuanced understanding of how modern financial systems operate. It’s an essential read for anyone interested in exploring the foundations of money beyond conventional economic theories.
7. One Up on Wall Street
This book was written by Peter Lynch and published in 1989. Peter Lynch is a successful mutual fund manager. He managed various Fidelity Magellan Funds from 1977 to 1990, and achieved an annualised return of 29%. In this book, he emphasises the importance of daily observation of individual investors, which they can use to find common and promising investment opportunities. Focusing on the principle of “Invest in what you know”, the author believes that anyone can discover great stocks before they’re widely recognized by analysts.
8. Think and Grow Rich
This book was published in 1937 and was written by Napoleon Hill. Based on decades of studying the habits and mindsets of highly successful people, the book is much more than a guide to earning money; it’s a blueprint for achieving success in any area of life. Napoleon interviewed several successful people and found some common characteristics, which are mentioned in the book. Once you finish reading this book, you will get to learn the psychology of creating wealth.
9. Coffee Can Investing
The book was written by Saurabh Mukherjea, Rakshit Ranjan, and Pranab Uniyal, and it was published in 2018. In this book, the authors discusses a long-term approach to wealth creation, especially tailored for Indian investors. The authors introduce the concept of “Coffee Can Investing,” inspired by an old American practice where people would stash valuable possessions in a coffee can and forget about them for years. In investing terms, this means identifying high-quality, fundamentally strong stocks and holding them untouched for at least 10 years.
10. The Total Money Makeover
The book was first published in 2003 and was written by Dave Ramsey. The book provides steps to get out of debt and build wealth. Ramsey emphasizes that successful money management is 80% behavior and the remaining 20% consists of knowledge. The author discusses a “Debt Snowball” method of repaying their smallest debts first, building momentum towards saving and investing, allowing you to eliminate debt and achieve financial freedom.
Why should one read Personal Finance Books?
There are various reasons why one should read a personal finance book, a few of which are mentioned below:
Avoiding Debt Traps: Reading books allows you to manage your debt efficiently. These books can help you reduce debt, create realistic budgets and build a more secure financial future.
Long Term Wealth Creation: Reading books helps you create wealth over a while by teaching you the importance of disciplined investing.
Change in Mindset: Many people avoid investing early in life, missing out on substantial gains from the power of compounding. Books help them in understanding the concept of compounding.
Financial Freedom: Reading books regularly allows you to attain financial freedom at an early stage and provides you with peace of mind.
While earning money is challenging, managing it wisely requires even greater skill and discipline. Many seasoned investors have shared their experiences through books, offering valuable insights on navigating the market and aligning your investments with your financial goals and risk tolerance. However, it’s important to remember that these books provide general guidance and should not be seen as direct investment advice. Always consult a qualified financial advisor before making any investment decisions.
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There are various books available through which one can learn the art of investing; however, one can start with “The Intelligent Investor” written by Benjamin Graham.
Is there any book that can help me get out of debt?
Yes, books like “The Total Money Makeover” focus on budgeting and managing your debt.
Do I need to have a financial background to read personal finance books?
No, you do not need to have a financial background to understand the concepts discussed in the personal finance books, as they are written in simple language and explain the concept through real-world examples.
Where can I purchase personal finance books?
One can purchase personal finance books on online platforms such as Amazon, Audible, and Google Play Books.
Is there any personal finance book specifically for the Indian audience?
Yes, there are various books written by various authors that can help an Indian investor in understanding the concepts of personal finance. Examples of such books are “Coffee Can Investing”, “Think and Grow Rich”, etc.
The Indian securities market has witnessed several cases of large-scale manipulation over the years, and one of the most notorious among them is the K-10 scam, masterminded by stockbroker Ketan Parekh. This scam not only shook investor confidence but also wiped out an estimated ₹30,000 to ₹40,000 crore in investor wealth.
In this blog, we will give you an overview of who Ketan Parekh is and how he conducted scams in the Indian Market, leading to massive losses for Indian investors.
Who was Ketan Parekh and What was the K-10 scam?
Ketan Parekh was a stockbroker and was associated with NH Securities. He was also an associate of Harshad Mehta, who was a key figure behind the 1992 securities market scam. He was involved in a scam, which was also known as the “K-10 Stocks Scam”. In this scam, he identified 10 stocks that generally have low liquidity and manipulated their prices. He borrowed funds from Madhavpura Mercantile Cooperative Bank, created artificial demand, and generated hype in the media regarding these 10 stocks. He also conducted circular trading in which the buying and selling of stocks is conducted between related parties.
The stocks which were selected by Ketan were related to the IT and media sectors. In the pump and dump strategy adopted by Ketan Parekh, the prices of those 10 stocks were inflated artificially, and when the retail investor purchased those stocks, they were dumped by him.
How was the Ketan Parekh Scam Exposed?
The scam was exposed when the Securities and Exchange Board of India noticed some unusual price movements in a few selected stock prices. When the case was investigated by the SEBI, it was found that Parekh had taken a huge loan from the Madhavpura Mercantile Cooperative Bank. SEBI traced the circular trading between the Parekh firm and linked brokers.
Impact on the Securities market after the Ketan Parekh Scam
The stock market crashed after the 2001 Union Budget because the K-10 stocks crashed. Around 30 to 40 thousand crore of investor wealth was wiped out during such a correction. Retail investors faced a huge setback and lost faith in the market.
Another Scam by Ketan Parekh
After the 2001 K-10 scam, Ketan Parekh was barred from participating in the securities market. But despite this, he was involved in another front-running scam. A front-running scam is an illegal practice in which someone with insider information executes trades, through which they earn profit from the anticipated price movement a large order will cause.
Let’s understand the front running with an example: when a large buyer is about to execute a large trade, the front runners purchase the stock at a lower price and then sell it once the order is placed by the big buyer; thereby selling at a higher price and realizing quick profits. From this whole process, Ketan Parekh gained around ₹65.7 crore between 2021 and June 2023.
How was this Scam Exposed?
In early 2025, SEBI uncovered a sophisticated front-running operation led by Ketan Parekh, netting him approximately ₹65.7 crore. Parekh leveraged insider information, leaked by a Singapore-based intermediary about large institutional trades. Acting on real-time intelligence, his network placed strategic early trades ahead of these orders. As the institutional transactions hit the market and prices shifted, Parekh’s team swiftly profited. The investigation revealed a complex scheme involving multi-tiered trading structures, covert communications (via burner phones and WhatsApp), and even informal cash settlements.
SEBI tracked over 10 mobile numbers, which were saved under various names, including Jack, Boss, John, and Bhai, among others. By analyzing these calls and hotel check-ins, SEBI traced Ketan Parekh’s trading activities. SEBI’s fast, multi-location raids resulted in interim trading bans on Ketan Parekh and 10 other entities and ₹65.7 crore in liability against Parekh.
SEBI banned Ketan Parekh and 2 others from accessing the securities market and froze their trading accounts.
Lesson for Investors
There are certain lessons that an investor should learn from the scam of Ketan Parekh. A few such lessons are as follows:
Do not follow the trend: Generally, investors follow stocks that are hyped because of their constant rise in prices.
Stocks Trading at Upper Circuits: As an investor, it is advised to avoid stocks that constantly trade at upper circuits.
Low Liquidity: Generally, stocks that have low volume are easy to manipulate; therefore, one should avoid investing in stocks that have low liquidity.
Company Financials: Before investing in any stock, through research should be conducted, including an analysis of the company’s revenue, profits, debt, and other key financial metrics.
Conclusion
On a concluding note, we all know that investment in shares or equity helps us create wealth in the long run, but due to certain scams, such as the K-10 scam, investors lose confidence in the financial markets. Investors must stay vigilant, focus on strong fundamentals, and avoid shortcuts that promise quick gains. Always remember: informed, disciplined investing is the key to success. Therefore, it is advised to consult your investment advisor before making any investment decision.
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Ketan Parekh is a former trader and investor who initially worked as a stockbroker in the Indian stock market. He was involved in two scams, the first one known as the K-10 Stocks Scam, and the second was a front-running case.
What is front-running?
Front-running is an illegal practice in which a trader buys specific securities before a large order is placed in those securities based on insider information. When the big orders are placed, the investor sells those securities at a higher price and makes illegal profits from it.
What are the major actions taken by SEBI against Ketan Parekh?
SEBI has barred Ketan Parekh from accessing the securities market and instructed him to return ₹65.7 crore earned illegally.
How can investors protect themselves from scams like Ketan Parekh’s?
Investors should research thoroughly, avoid hype-driven or low-liquidity stocks, focus on strong fundamentals, diversify investments, and consult a trusted advisor to reduce the risk of falling for scams.
Is Ketan Parekh still alive?
Yes, Ketan Parekh is still alive, and he is being investigated by SEBI in a new front running case.
Where is Ketan Parekh now?
Ketan Parekh is alive, recently arrested in 2025 for a ₹130 crore fraud. He is banned from the stock market, with his accounts frozen, and is currently in legal custody.
If you’re thinking about securing your future and building healthy financial habits, the first step is opening a good savings bank account. It’s like the foundation of a stable financial future, where your salary comes in, where you keep your emergency fund, and where you begin cultivating the discipline of saving and investing.
But with so many banks offering savings accounts in India, it is easy to feel lost. Some banks offer higher interest rates, some give better digital services, and some just have branches everywhere you look.
In this blog, we will discuss the banks with the best savings accounts in India, not just mentioning their names, but also sharing a bit about their history, what they are known for, and who they are best suited for.
List of Best Savings Bank Accounts
Company
Current Market Price (in ₹)
Market Capitalization (In ₹ Crores)
52-Week High (In ₹)
52-Week Low (In ₹)
Current Savings A/c Interest Rate
HDFC Bank
2,005
15,37,072
2,027
1,588
2.50%
SBI
812
7,24,679
899
680
2.50%
ICICI Bank
1,430
10,20,382
1,472
1,153
2.50%
Kotak Mahindra Bank
2,145
4,26,425
2,302
1,679
2.75%
Axis Bank
1,173
3,63,738
1,340
934
2.50%
Bank Of Baroda
242
1,25,250
274
191
2.70% to 4.50%
Punjab National Bank
111
1,27,457
129
85.5
2.70% to 3.00%
Union Bank Of India
151
1,15,420
159
101
2.75% to 3.55%
IDBI Bank
102
1,09,459
108
65.9
2.60% to 3.10%
Canara Bank
114
1,03,133
119
78.6
2.55% to 4.00%
(Data as of 3 July, 2025)
Note: Higher rates generally apply only to balances above a certain slab. Check official websites of banks for accurate information.
Overview of Banks with the Best Savings Bank Account
An overview of the banks with the best savings bank accounts is given below:
1. HDFC Bank
HDFC Bank was set up in 1994 and quickly became one of the biggest names in Indian private banking. Known for its professional service, excellent digital products, and wide reach, HDFC is especially popular among salaried professionals and urban customers.
Their mobile app and internet banking services are among the best in the industry. Plus, they offer a wide range of savings account types, including specialised accounts for kids, seniors, and high-net-worth individuals.
SBI is not just the biggest bank in India; it is a part of Indian culture. Its roots go back to 1806 when it was known as the Bank of Calcutta, making it the oldest commercial bank in India. It became the State Bank of India in 1955 after merging with several other banks. With over 22,000 branches nationwide, it is often the default bank for millions of Indians.
If you prefer traditional banking with access to a physical branch almost anywhere in India, SBI is a reliable pick. It is also great for receiving government subsidies and pension payments. The YONO app brings in a decent digital experience too.
Since it was established in 1994, ICICI Bank has developed into one of the top private banks in India. With its iMobile Pay app, which is known as one of the most feature-rich banking apps available today, it continues to innovate and was among the first banks in India to concentrate on digital banking.
ICICI is a great option if you enjoy easy online transactions, integrated bill payments, and cashback incentives on debit card purchases.
Kotak Mahindra Bank started as a financial services company in 1985 and got its banking license in 2003. It shook up the industry with the launch of Kotak 811, India’s first zero-balance fully digital savings account.
With zero balance requirement and a fast, online account opening process, Kotak 811 is perfect if you want to skip branch visits entirely. Also, their interest rates are slightly better than some larger private banks.
Originally called UTI Bank, Axis Bank came into existence in 1993 and has slowly but steadily built a strong customer base across India. It’s well known for its premium banking services under the Burgundy banner.
The Axis ASAP account makes it easy to open an account online. Also, they often have cashback or reward point offers linked to their debit and credit cards.
Bank of Baroda was founded in 1908 in Baroda (now Vadodara, Gujarat). It is one of the largest public sector banks in India. In 2019, BoB merged with Dena Bank and Vijaya Bank, strengthening its national footprint.
It’s often chosen by those who want PSU-bank reliability with slightly better tech integration compared to older PSU peers.
7. Punjab National Bank
Lala Lajpat Rai and other visionaries during India’s freedom movement established PNB in Lahore (now in Pakistan) in 1894. It is currently among the largest public sector banks in India.
PNB increased its asset size even further in 2020 through mergers with United Bank of India and Oriental Bank of Commerce.
In 1919, Mahatma Gandhi himself inaugurated the Union Bank. It was only medium sized for many years, but in 2020, it merged with Andhra Bank and Corporation Bank to become much larger.
9. IDBI Bank
In 1964, IDBI Bank was founded as a development financial institution, and in 2004, it became a commercial bank. Its historical contribution to the expansion of India’s industrial sector makes it important, even though it is smaller than the other banks on this list.
Since LIC (Life Insurance Corporation of India) now owns a majority stake in IDBI, the company has been concentrating on revamping itself in recent years.
10. Canara Bank
Canara Bank is one of the oldest PSU banks in India, having been founded in Mangalore (now in Karnataka) in 1906. After merging with Syndicate Bank in 2020, it significantly increased the size of its network throughout southern India. The bank uses a conventional PSU strategy to enhance digital services after the merger and is considered highly for financial products related to the government.
Factors to Consider before Choosing a Savings Bank Account
Let’s quickly talk about what you should look for before selecting a savings bank account:
Interest Rate on Savings: This is the rate at which your money will grow. Higher is better, especially if you maintain larger balances.
Minimum Balance Requirement: While some accounts have no minimum balance, others may need ₹5,000, ₹10,000, or more.
Fees & Charges for Banking: Check hidden fees for debit card issuance, SMS alerts, or ATM withdrawals.
Digital Experience: A good mobile banking app and net banking service make your life a lot easier, especially for bill payments, UPI, and fund transfers.
ATM/Branch Network: Especially important if you still prefer visiting branches or need frequent cash withdrawals.
Extra Benefits: Cashback offers, linked credit cards, or accidental insurance coverage can add real value.
How to Open a Savings Account Online
You can open a savings account online by following the steps mentioned below:
Pick your bank and account type
Fill out the application form with your PAN number, Aadhaar number, and other details
Do a quick Video KYC with a bank official.
Your account will usually be opened in 24-48 hours after verification
Download the app and start using your account
Conclusion
Ultimately, choosing a savings account involves more than just deciding where to keep your money; it also involves deciding how you want to handle it. If you’re looking for ease and the convenience of a nearby branch, choose reliable banks such as SBI or PNB as they have branches everywhere. If you prefer seamless digital banking services, then Kotak, ICICI Bank, or HDFC Bank are the best. The most crucial thing is to get started, open a savings account, develop saving habits, and let your money work for you.
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Banks like Canara Bank and Union Bank give a relatively higher rate of interest on savings accounts. Always check the minimum balance required as a higher interest rate may be applicable on higher amounts.
Is it safe to open an account online?
Yes, if you do it through official bank websites or apps. They are regulated by the RBI and are safe.
Can I have more than one savings account?
Of course! There is no limit, and sometimes it makes sense to have different accounts for different purposes.
What’s the best zero-balance account?
Kotak Mahindra Bank 811 Digital Savings Account is one of the most popular zero-balance accounts, but always check the features of savings accounts offered by other banks before opening an account.
Are small finance banks safe?
Small finance banks are regulated by the RBI, and your deposits are insured up to ₹5 lakh by DICGC, just like in bigger banks. However, they may have fewer branches and ATMs.
Switzerland is renowned as a major global financial center, with Swiss banks famous for their strong privacy and strict confidentiality laws. These banks attract individuals and companies worldwide who value security and discretion for their wealth. But many people don’t know how to open a Swiss Bank Account.
In this blog, we will explain to you the procedure to open a Swiss Bank account.
What is a Swiss Bank Account?
A Swiss Bank is a financial institution situated in Switzerland, and is known for its privacy, strict laws, and secrecy. Accounts in these banks are generally opened by the person who seeks confidentiality and security. The Swiss Bank Law of 1934 states that it is a criminal offence for a bank to declare the details of a client to any other entity or person.
A Swiss bank is a global bank known for its exceptional security and secrecy. According to the Swiss Banking Law of 1934, it is illegal for a Swiss bank to reveal the identity of its account holders. However, Swiss banks did lose some transparency as a result of pressure from other countries. In addition to this, Swiss Bank complies with global banking and anti-money laundering laws. Hence, in the recent past, they are refusing to take on customers who are unable to show sufficient evidence of their wealth or income.
Types of Swiss Bank Accounts
The various types of Swiss Bank accounts are as follows:
Personal Account: This account is opened by an individual for their personal use and doing daily transactions. It generally includes savings and a current account. One can receive salary and other incomes in this account and make payments of bills, etc., using this account.
Business Account: This account is opened by companies and is generally used for holding investments or to conduct day to day transactions. This account offers a special kind of service, such as trade finance, treasury management, etc.
Numbered Account: In this type of account, the account holder’s name is replaced by a number to enhance privacy, and only a few senior bank officials know the true identity of the holder. However, Swiss law requires the bank to maintain proper identification records, and the holder’s details can be disclosed to authorities in cases involving tax treaties or legal investigations.
Custody Account: This account is generally opened by the individual to manage their investments, such as stocks, bonds, mutual funds, etc. They can either manage them directly or with the help of a wealth manager. This account is also known as an investment account.
Dormant Account: If this account remains inactive for more than 10 years, then the funds will be transferred to the Swiss state.
How to Open an Account in a Swiss Bank?
To open a Swiss Bank account, one can follow the steps mentioned below:
Type of Account: The first step is to identify the type of account which you want to open. As we have already mentioned, there are various types of accounts, like a personal account, a numbered account, etc.
Selecting the Bank: Various Swiss banks offer the service of opening a bank account, like UBS Group, Julius Baer, etc. One should choose a bank based on the services and charges of the bank.
Arranging Documents: Various types of documents are required to open a Swiss Bank account. The documents include a passport, address proof, source of funds, etc.
Application: Once the documents are arranged successfully, submit an application to open a Swiss bank account along with the supporting documents.
Verification: The Swiss bank officials review the documents and upon successful verification, your account is opened.
Deposit: Once the process is completed, the initial amount can be deposited into the bank account.
The key features of a Swiss Bank Account are as follows:
1. Privacy: An account in a Swiss Bank offers confidentiality and secrecy to its customers.
2. Stability: Switzerland has a history of political and economic stability and has a well-regulated banking system.
3. Investment Options: Swiss Bank offers its customers various investment options along with banking.
4. Minimum Deposit: An account in a Swiss Bank can be opened with a minimum deposit of a few thousand dollars; however, this amount varies across different banks and depends on the type of account you want to open.
There are significant advantages to opening a Swiss bank account:
Privacy: Having a bank account in a Swiss Bank provides a high level of security, as Swiss banks are famous for maintaining strict confidentiality.
Banking Services: Swiss Bank offers a wide range of services to its customers and are known for their personalised banking services.
International Reputation: Switzerland as a country is well known for its regulatory standards and has a well-regulated financial system.
Advisory Services: Swiss Bank also offers tailored investment advisory services, portfolio management services to its customers.
Disadvantages of a Swiss Bank Account
The various disadvantages of having a Swiss Bank account are as follows:
Minimum Balance: One is required to maintain a minimum balance in their Swiss Bank account, which can be between a few thousand dollars to a few million dollars, making it unsuitable for individuals with a low income.
Limited Privacy: Now, with the change in international treaties, the Swiss Banks’ privacy standards have been lowered over time.
Low Interest Rate: Swiss Bank offers a low interest rate on the deposits made by customers.
Annual Maintenance Fee: The bank charges high annual maintenance fees from its customers, whether they use banking facilities or not.
On a concluding note, Swiss Bank accounts offer a high level of privacy to their customers as no one can access the data of their customers. As per the law, it is a criminal offence for banks to disclose their customers’ information. But in the recent past, due to international treaties, the Swiss banks did share the details of the customer with the respective authorities. Hence, the privacy usually associated with having a bank account in a Swiss bank has decreased a little over the past few years. One must consult their tax advisor before opening a Swiss Bank account.
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Yes, a Non-Resident Individual can open a Swiss Bank account.
Is it legal to open a Swiss Bank account?
Yes, it is legal to open a Swiss Bank Account; however, it is essential to follow all the regulatory guidelines laid down by the concerned authorities, such as the RBI, etc.
Do I need to travel to Switzerland to get the Swiss Bank account opened?
While initial applications may start online, almost all Swiss banks require in-person or video verification, and extensive documentation for source of funds.
What are the types of Swiss Bank accounts?
The various types of Swiss Bank accounts are as personal or current account, savings account, numbered account, etc.
Does the Swiss Bank pay interest?
Yes, the Swiss bank pays interest. However, the interest rate depends on the type of bank account.
What is the Swiss bank account opening minimum balance?
The Swiss Bank account opening minimum balance differs from bank to bank and it can vary from a few thousand dollars to millions of dollars.
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