What portion of your salary should you spend on loan EMIs?
Most people buy a house or a car by taking a loan from the bank, but do you know what is the maximum portion of your salary that you should spend on EMI? What is the 40 percent EMI rule? What are the disadvantages of spending more on EMIs? Among home loan, personal loan, auto loan and credit card bills, which loan should you eliminate first?
Nowadays everyone has bank accounts. The bank account keeps your deposits safe and makes your transaction process easy and transparent. Some have a salary account and some have many savings accounts. There are many people who have multiple accounts. But do you know how many bank accounts a person can have?
Types of bank accounts
There are many types of bank accounts. Like salary accounts, savings accounts, current accounts, and joint accounts. A savings account is the priority of most people because most people open accounts only for savings. This account can belong to anyone. From small businesses and jobs to housewives, women can open this account. Salary accounts are for those people who do jobs. This means whose salary comes every month. It is not mandatory to keep a minimum balance in this account on receipt of a regular salary. This account can also be temporary which you can change as you change your job. If a husband-wife or anyone wants to open an account jointly, then they can open a joint account. This account also has many benefits.
How many accounts should you hold?
Although there is no such rule in India that how many bank accounts a person can keep, that is, there is no limit to it. People can decide the number of accounts according to their needs. But, it is difficult to manage multiple accounts, so according to experts, more than two savings accounts should not be opened. Actually, it is also necessary to keep a minimum amount in bank accounts. Apart from this, transactions are also necessary from time to time, otherwise, your account can also be deactivated by the bank