Banking Basics

Open an account, understand interest, and learn how credit works.

Lesson 1

A safe place for your money, often with zero balance needed.

3 minutes

A bank account keeps money safe and lets you receive payments and government benefits directly.
Jan Dhan accounts (India) need no minimum balance and give a free RuPay card.
Documents usually needed: Aadhaar/ID and a photo. Ask the bank mitra or branch staff to help.
Once open, you can deposit, withdraw, and link UPI for digital payments.

Lesson 2

Your savings can grow while sitting safely in the bank.

3 minutes

Interest is extra money the bank pays you for keeping savings with them.
A Recurring Deposit (RD) lets you save a fixed amount monthly and earn interest.
A Fixed Deposit (FD) locks a lump sum for a period at a higher interest rate.
The longer you save, the more interest adds up — this is the power of patience.

Lesson 3

Borrowing wisely — and avoiding debt traps.

3 minutes

Credit (a loan) means borrowing money you repay later, usually with interest.
Borrow from banks, SHGs or recognised microfinance — never from unknown app lenders.
Only borrow what you can repay. Know the interest rate and total repayment before signing.
Repaying on time builds trust, making future loans easier and cheaper.