I have started to earn a year ago. All my funds are currently in banks. Is there any better way save money than leaving it in a bank account?
There are quite a few options. Suggest you put a mix of things and begin investing into Mutual Funds.
- Open a PPF / NPS account. The returns are decent and secured, but there is a long time lock-in
- Open Fixed Deposits
- Start investing small amounts in Mutual Funds, start with Index funds and then into Diversified equities before going into other type of funds
- Some point when you are comfortable start into shares directly.