Money can be saved in a bank through a savings account. Savings accounts allow depositing money in the bank and earning interest. There are two types of interest - simple interest which is calculated once on the principal amount, and compound interest where interest earned also starts earning interest. Other bank products for saving include fixed deposits which provide lump sum amount after a fixed period, and recurring deposits where a fixed amount is deposited each month for a set period. Internet banking allows conducting financial transactions securely online. Debit cards allow purchasing goods and services directly from a linked bank account, while credit cards provide a grace period before interest is charged. Post offices also offer savings accounts and recurring deposit accounts for investment and interest earning over 5 years.

6. WHAT ISMONEY?

7. Save

13. Savingsaremoney kept over along
period of time, usually in abank or even in an
old jam jar without therisk of lossor making
profit.
When you savemoney your money issecure.
You areguaranteed to get back thesum you
put in, plusinterest.

15. Savings -account
Therearetwo basic kindsof interest:
»simpleinterest
»compound interest

16. Savings -accountSimple interest
• Simpleinterest isfigured onceon theprincipal.
• If you loaned Rs300 to afriend for onemonth and charged her 1%
interest (Rs3) at theend of themonth, you'd bedealing with simple
interest.

17. Savings -account
Compound interest isalittledifferent
With compound interest, themoney you earn in interest becomespart
of theprincipal, and also startsto earn interest.
If you loaned that samefriend Rs300 for onemonth but charged her
1% each day until theend of themonth, you'd beusing compound
interest.
At theend of thefirst day, shewould oweyou Rs303. At theend of
thesecond day, shewould oweyou Rs306.03. At theend of thethird
day, shewould oweyou Rs309.09, and so on.

21. ANSWER THISQUESTION
KIDSCAN OPEN BANK ACCOUNT
TRUE
HOW CAN YOU PUT THE MONEY YOU SAVED IN A
BANK?
BY CREATING A SAVINGSACCOUNT

22. Savings -accountSavingsaccount
An savingsaccount used to deposit money in the
bank.
bank havecertain rulesfor theminimum balance
which hasto beheld in theaccount.
Thisaccount givesinterest for themoney held in the
account.
Money can beadded or withdrawn at any timefrom
thisaccount.

23. Savings -account
 Remember that if you add money to your account, your
balancemight grow alot more.
 And, if you withdraw or takemoney out, it might grow much
less.
 When you add or takeaway from your account, you're
changing theamount you can earn aswell.
 And when you'rebuilding amoney TV of savings, every rupee
counts.

24. Pass-Book
when weopen asavingsaccount with any bank
wearegiven apassbook.

25. Thepassbook containsthenameof theperson in
whosenametheaccount isopened.
Each person isgiven aseparatesavingsaccount
number.

26. thepassbook givesyou detailsof deposits& date
of deposit, withdrawal… which aremadeby the
person.

28. Current Account
Current Account
Thesearebasically meant for businessman, firmsand
companies.
It does not giveinterest for themoney held in the
account.

29. Internet BankingFixed Deposits
A fixed deposit ismeant for thoseinvestorswho want
to deposit alump sum of money for afixed period.
 say for aminimum period of 15 daysto fiveyears
and above.
Investor getsalump sum (principal + interest) at the
maturity of thedeposit.
Fixed depositsalso giveahigher rateof interest than
asavingsbank account.

30. Internet BankingRecurring Deposit
Theminimum amount of Recurring Deposit varies
from bank to bank but usually it beginsfrom Rs
100/-.
aspecific sum of money isdeposited on amonthly
basisfor aspecific period of 6 monthsto 10 years.
• At theend, you will get theprincipal sum aswell as
theinterest earned during that period.

32. Internet BankingInternet Banking
Oneof themain reasonsthat peopleuseInternet
banking over regular banking isbecauseof the
convenience.
Everybody wantsmethodsthat aregoing to savethem
timeand makedaily taskseasier on them, and that is
exactly what Internet banking does.
allowscustomersto conduct financial transactionson
asecurewebsite

33. ATM CUM DEBIT CARD

34. ATM /Debt cards and Credit cards.Thesearebasically issued by banksto personswho
havean account with them.
An ATM card givesyou accessto your bank savings
and current account 24 hoursaday, 7 daysof the
week.
Therearetwo typesof cardsthey arethe
Debit and credit cards.

35. ATM /Debt cards and Credit cards.credit cards
A plastic card with magnetic strip on onesidewhich
isused to swipe.
It isused to buy goodsand services.
Thebank issuing thecredit card paysthebill first
then collectsthemoney from theholder of thecard.
Credit card offersa25 day graceperiod during which
no interest ischarged.

36. ATM /Debt cards and Credit cards.Debit cards
A plastic card with magnetic strip on oneside
which isused to swipe.
It isused to buy goodsand services.
Thebank issuing thedebit card paysthebill
first then collectsthemoney from theholders
account immediately.

37. DoesPost officeoffer….
Savingsaccount
 aminimum deposit amount isRs.20 maximum is1
lakh.
Theconsecutivedepositsshould also bemorethan
Rs.5.
Thewithdrawal amount should bemorethan Rs.5.
 Investment can bemadefor asmany yearsas
possible.

38. A post officerecurring deposit account (RDA)
 issimilar to arecurring deposit in abank, where
you can invest afixed amount on amonthly basis.
Thepostal RDA hasafixed tenureof fiveyears.

39. Thesedepositsaccumulate money at an
annual fixed rateof interest of 8 per cent.
Theinterest is compounded on aquarterly
basis.
Theminimum investment in apost office
RDA isRs10 and thereisno prescribed upper
limit.

40. For example,
if you invest Rs100 every month in 60
installments,
you will earn asum of Rs7,289 after 5 years.

43. 500 RUPEE NOTE
?
?

44.  You know thereare
identification marksin
aIndian rupeenote
that will help blind
peoplein identifying
thenotes.
 It isusually
represented by a
raised black circleOR
triangle
Haveweever looked closely at acurrency noteor acoin?
500 RUPEE NOTE
?

45. Haveyou heard of the
word Security Thread
in anote?
 It isasecurity feature
in notesto protect
against
FORGERY/MAKING
OF FAKE NOTES
 It consist of aribbon
which isthreaded
through thepaper .
 Theribbon isusually
madeup of metal foil
or plastic and usually
hassometext or
numbersengraved on
it.
500 RUPEE NOTE

48. Bartering worked for many yearsuntil it wasno longer
convenient to trade.
After bartering, metal becamethemost popular form of
money in most of Europeand Asia.
Peopleused gold, silver, and copper asmoney becausethey
werepretty and hard to get.

49. Theproblem with themetal wasthat it wastoo heavy.
Peoplehated carrying it around.

53. Kidsnext timeyou look at money remember that
it hasavery interesting history behind it.