Your love affair with your bank is costing you money.

We love to plan, at least that is what we tell ourselves. However, idle day dreaming doesn't amount to planning.

The amount of money in savings accounts in India is astonishing. Savings accounts, when you take inflation into account, actually reduce the value of your money over time.

Everyone is busy with their daily lives and barely manage to check their accounts monthly, forget daily.

However, there is a much better solution at hand. Liquid funds from Mutual Funds, on average, have much higher returns than savings accounts. The money is invested in safe assets (not shares) and they are considered low risk.

By moving money regularly to liquid funds and back to savings accounts when needed can help you save extra money for that birthday party or a nice dinner every few months. 

The extra effort needed is marginal. Just a call to your mutual fund distributor will help him help you earn more money on your savings.

Make that call!!

Today's rates:

HDFC Bank Savings Account: 2.75%

HDFC Mutual Fund Liquid Fund YTM: 6.31%