The Bank Account — Where your money lives

When you deposit 100 rupees, the bank does not keep it in a box. It lends about 85 of those rupees to someone else and pays you a few rupees for the use. Your account is an entry in a ledger, not a locker. The bank lends your money while you sleep.

• The DICGC insures every bank account up to 5 lakh rupees, even if the bank fails.
• A savings account can be opened at age 10 with a parent or guardian. The minimum balance is often zero.