Prudential Saving for exigencies saves lives.
Don't save what is left after spending; spend what is left after saving. - Warren Buffett

For the rich saving is automatic and they also save for tax exemption. But low income people have more difficulty in saving. I feel that every one should just save 10% of whatever he receives. This will ensure sizable funds at time of need/ old age. For lay man, saving in Bank FD is best. For egular saving, RD in bank or post ofice would be better. Investment in equity is risky neds more skill and home work.

For common man RD and PO savings are ideal to save and take care of the rainy day. The transactions are simple even for a layman.

In post office savings, interest is less comparing with banks but one main advantage of post office is they are serving in every part of India where people can invest their money safely. Most of the savings made by women in villages is through post offices.

That and also one can invest upto Rs 5 lakhs in FDs and the interest will not be taxed...Incidentally , it is 12 lakhs limit for senior citizens

In general, I'm for more convenience, less time consuming, less paper work paraphernalia and Safety. I don't mind about less interest. Bank frauds are more in comparison with PO frauds.

In general, I'm for more convenience, less time consuming, less paper work paraphernalia and Safety. I don't mind about less interest. Bank frauds are more in comparison with PO frauds.

I agree. I don't wish to manipulate things. I shall not try to deposit in different banks or even submit form H if my total income exceeds Rs. 2,50,000/ including interst on FD. Let them deduct TDS.

In general, I'm for more convenience, less time consuming, less paper work paraphernalia and Safety. I don't mind about less interest. Bank frauds are more in comparison with PO frauds.

I agree. I don't wish to manipulate things. I shall not try to deposit in different banks or even submit form H if my total income exceeds Rs. 2,50,000/ including interst on FD. Let them deduct TDS.

In general, I'm for more convenience, less time consuming, less paper work paraphernalia and Safety. I don't mind about less interest. Bank frauds are more in comparison with PO frauds.

I agree. I don't wish to manipulate things. I shall not try to deposit in different banks or even submit form H if my total income exceeds Rs. 2,50,000/ including interst on FD. Let them deduct TDS.

Some banks did not tell the customers about the forms and simply deduct the TDS from their accounts. If customer asked about it they will say you must submit it and tell you to contact Income taxt department for further issues. An educated person knows about all these things and he will follow the procedures. A person who resides in villages did not know about it. In post offices before investing they are explaining what are the benefits in it. Banks hide important information from us. That's why still post offices are playing major role in villages. Savings is important comparing with interest and that money should be kept safely.

Post offices use the formula of "A penny saved a penny gained". People in village not immediately depositing a huge amount day by what amount they earned investing in their account.