After you pay bills and recharge your phone, what doyou do with the additional money? Do you invest them in the Stock Market,
Mutual Funds, or open a Term Deposit? Investing in any of these financial
instruments requires discipline. Withdrawal of funds mid-way involves penalties
and deductions. So, during emergencies, how to arrange the funds?
This is where a SavingsAccount rescues you. Youcan access cash from your account anytime. Banks offer an array of options for
all types of segments in India. You canalso manage such accounts through Online Banking. You can also move funds from one account to another using NEFT,RTGS, and IMPS methods. The most common types of Savings Account are Salary and
Senior Citizen.
Now, besides the perks of SavingsAccount interest rates,what are the other benefits you can enjoy? Let us understand:
Accessible
The best part about having such an account is that youcan access money anytime. You can make deposits and withdraw cash swiftly. You
also receive a Debit or ATM Card by opening such Bank Accounts. You can use
this card for other purposes like shopping, entertainment, etc.
Safety
Your hard-earned money iscompletely secure with the bank of your choice. The Reserve Bank ofIndia has special safety regulations to protect your money. You also get deposit insurance of Rs. 1 lakh on every SavingBank Account.
Debit Cards
On selective accounts, banks provide a Debit Cardusable anywhere in the world. You can use this card in ATMs abroad for free. These
cards are usually part of the welcome kit upon opening an account.
Onlinefacilities
The best part when you open a Bank Account is theonline services. This way, it is easier to handle the daily activities of your
account. You can transfer funds, create Recurring and Fixed Deposits, and more
online. You can also set a deposit schedule date on your smartphones. You can
check the summary of your transactions. Banks are also planning to launch
smartwatch apps.
Loans
The best part about opening an account is that you caneasily apply for a Loan. Since you already share a great rapport with the bank
representative, you may receive any loans forlower interest rates.
Opening anaccount
Thanks to the Banking app, opening an online account now is just a click away. Youneed not opt for the conventional methods anymore.
What are you waiting for?Start planning and open a Savings Account today!
