That was quite a break

Image source – Indian Moms . After a big rest for 6 months finally up with a new post.

Now many of us have short-term funds (cash) that is mostly lying in our bank accounts or at home as emergency need. While there is no harm in keeping some contingency money always as cash however we can invest even some portion of this amount to earn additional return. I have previously written about how to generate extra cash by using your credit card here .

Now let us look on how we can increase our return on short-term cash

1. Opening saving accounts with bank which offer higher interest rates – With Reserve Bank of India lifting law on fixed interest rate to savings account holders, Many of the modern private banks aka Yesbank, Kotak Manhindra  are offering higher interest rates for having a savings accounts with them. Few banks also offer additional interest if you keep a balance of over INR 1 lac. While traditional biggies aka SBI,ICICI still offer 4% on your savings account , we should carefully examine if we are in need to continue to use their banking services or else  we