Earlier, you needed cash to pay for your expenses. Today, you can simply park your hard-earned money in a Savings Account and use several channels for your transactions. Additionally, carrying cash around, especially a lot of it, keeps you stressed about its safekeeping. It also does not earn you any interest or help grow your money.
This is when a Savings Account is a boon and offers you the following advantages:
It is safe
If you are tired of finding safe places to store cash, it is time to switch to a Savings Account for better security. You can easily park your money in the account. It is quite secure, and nobody can use your funds without your authorization. It also allows you to track your expenses and transactions with a few clicks.
You can do this from anywhere and anytime using a Banking app. You can also pay using the app or use the ATM to withdraw cash whenever the need arises.
Having a safe place to store your money can encourage you to save more. It also discourages unnecessary spending and enables you to accumulate currency for big-ticket purchases.
Helps grow money
Your Saving Bank Account receives a periodic interest depending on the percentage decided by your bank from time to time. This prevents your money from lying idle. Additionally, it enables you to earn a sum and helps grow your money over time.
Packed with features
Opening a Bank Account can give you access to features like a Debit or Credit Card that you can use for your transactions. It provides access to features like Mobile and Internet Banking depending on the bank you choose. These allow you to track your expenses, transfer funds, and do more, right from the comfort of your space.
Enables you to invest
Having a Savings Account can open a world of investment opportunities for you. You can choose from Mutual Funds, Fixed Deposits, and more such wealth solutions offered by your bank.
Enjoy faster Loans
Your account may allow you the opportunity to get instant, paperless Loans within a few clicks. The processes are also hassle-free with instant approvals, effortless Loan management, and more. This enables you to turn your dreams into realities and make the best of life’s opportunities.
Easy to open
Today, it does not take much effort to open a Bank. You need not visit the bank’s branch, stand in never-ending queues, or miss a weekday. You can easily open one using the bank’s website or app. Fill up your details digitally. Keep copies of your ID and address proofs handy. You can also take advantage of e-KYC on your smartphone. Afterwards, your account details are sent to your email shortly.