The amount of money kept in a savings account can vary greatly from person to person, as it depends on individual financial circumstances and goals. Some people may keep a small amount of money in a savings account as an emergency fund, while others may keep a significant portion of their income in a savings account for long-term savings and investment purposes.

There is no specific amount of money that should be kept in a savings account, as it depends on factors such as income, expenses, debts, and financial goals. It is important to have an adequate emergency fund, typically equivalent to three to six months of living expenses, and to regularly set aside money for savings and investment purposes.

Ultimately, the amount of money kept in a savings account will depend on your personal financial situation and goals, and it’s important to regularly review and adjust your savings plan to ensure that you are on track to meet your financial goals.

Pan card is mandatory to keep money in a bank account?

Yes, a PAN card is mandatory to keep money in a bank account in India. The PAN (Permanent Account Number) is a unique 10-digit identifier issued by the Indian government to individuals and entities for tax purposes. Banks and financial institutions are required by law to obtain a PAN card from customers for various transactions, including opening a bank account, investing in fixed deposits, buying insurance policies, and making certain transactions above a specified limit.

Having a PAN card not only helps in keeping a bank account but also enables the government to keep track of financial transactions and ensure that taxes are paid appropriately. Additionally, having a PAN card can also simplify the process of filing income tax returns and claiming tax benefits.

Therefore, if you wish to open a bank account in India or undertake certain financial transactions, it is mandatory to have a PAN card.