With the increasing use of online platforms for banking, several banks now focus on offering reliable digital services. It includes opening an online account, money transfers, account monitoring and accessible services. A digital savings account in 2023 focuses on two key areas to make banking convenient for customers: accessibility and secured online transfers. The article below enlists all the benefits of opting for a digital account opening.
1. You can access your bank account seamlessly
A digital account opening can help you securely access your bank account always. IDFC FIRST Bank digital savings account lets you access online personal loans, Fixed Deposit (FD) accounts, and other bank accounts. The bank also offers net banking and mobile banking apps to provide convenient services online. Therefore, a digital savings account can help you access all banking services seamlessly.
2. Banks reward customers who opt for a digital account opening
Certain banks offer higher savings account interest rates to customers who opt for a digital account opening. IDFC FIRST Bank offers the Zero Fee Banking feature with all IDFC FIRST savings accounts that waive the fees on over 28 banking services like ATM withdrawal and deposit charges: and NEFT (National Electronic Funds Transfer), IMPS (Immediate Payment Service), and RTGS (Real-Time Gross Settlement) transfers. Zero fee banking from IDFC FIRST Bank helps save more over a long period.
3. The bank must offer additional features to help increase savings
Features like zero-fee banking help you save more on service charges. Additionally, IDFC FIRST Bank offers monthly interest credits and a high-interest rate for better savings. You can also use the mobile banking app to track expenses and draft a better budget to save more, categorise your spending, and infer learnings from them. Learn from your spending habit and plan better finances through the Track Your Expense feature.
4. You can transfer funds quickly to any recipient
Besides UPI, NEFT, IMPS, and RTGS transfers, the IDFC FIRST Bank mobile banking app facilitates online payments through the Auto Pay and One-Swipe Pay features. Auto Pay helps customers pay their utility bills on time, and One-Swipe Pay facilitates a quick, online fund transfer to any recipient. A digital savings account makes online fund transfers secure too. IDFC FIRST Bank mobile app allows customers to add more layers of security to their online transactions.
5. You can directly invest your savings in an investment scheme
IDFC FIRST Bank mobile app helps customers directly invest their savings into various investment instruments. The bank recommends personalised investment options to customers based on their investment portfolio. Customers can access every banking service, such as investments, personal loans, or bank account balances, using the IDFC FIRST Bank mobile app.
Before selecting a particular savings account, you must consider account features and check whether the bank offers features aligning with customers’ needs and helping them save more, like the IDFC FIRST Bank Zero Fee Banking feature. And since, in a savings account, everything comes down to savings, consider the interest rates you receive. The higher the rates, the better the capital growth.