Now Mutual Funds are Offering ATM cum DEBIT Cards.

“Only You Can Make You Rich”

So, you need not keep your money in savings bank a/c. Now Mutual funds act as your SB a/c with double return.

For Example, If you have 10 Lakhs in your SB a/c and if you are not using it for any purpose upto one year you will be earning 4% interest on this amount. But, if you invest same amount in mutual Fund, (liquid fund scheme) you can get minimum 7% p.a. That means 70,000 rupees difference in your income per year. With this example you will understand that "Only you can make you rich" This difference of 30000 (Tax Free) can help you pay your child's tuition fees and cover transportation cost. So do not keep more money in SB account than what is required to meet three times of your household expense.