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As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
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FinFIRST Blogs
Did you know Goa has the highest per-capita income in India? Australia is wider than the moon, and Iceland has no mosquitoes!
Lesser-known facts make a place much more interesting and help you plan and truly enjoy your visit. Similarly, there are a lot of lesser-known, unique features of a Savings Account that you may need to learn, and these can help you better understand the facilities of Savings Account. Let’s get to know what these are so you enjoy these benefits and unlock the complete potential of your Savings Account.
Automated bill payment
Automation is one of the greatest benefits of Savings Accounts in this day and age. Savings Accounts allow you to automate bill payments like phone, electricity, water, internet, etc. This way, you never have to worry about missing due dates. Most banks allow you to set up automated payments through the net banking app. Moreover, it takes only a couple of minutes to set mandates.
Reward schemes
Savings Accounts offer various reward schemes, such as complimentary domestic airport lounge access, monthly interest credits, free accident insurance covers, and more. However, these can vary from bank to bank. You can compare the features of Savings Accounts of multiple banks and then pick the one with the most rewards.
Branch-Free bank account facility
You can enjoy the many facilities of Saving Accounts without having to visit the branch in person. Online banking has made depositing and withdrawing cash, opening recurring and fixed deposits, downloading monthly and yearly statements, etc., much more convenient and quick.
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E-Wallet services
E-wallets are similar to physical wallets. However, they store your money virtually and use it to make payments, send or receive money, etc..
Sweep account facilities
The sweep facility is another one of the features of a Savings Account offered when the balance in your Savings Account exceeds a certain value. This facility automatically transfers a portion of your Savings from the Savings Account to a fixed deposit. Since the latter is a high-interest Savings Account, you get to earn more money on your idle savings and plan for your future needs seamlessly.
To sum it up
Some other features of a Savings Account include a low minimum opening deposit, locker facilities, international debit cards, etc. You can enjoy these and more by selecting the right bank for your savings. IDFC FIRST Bank can be an ideal choice with high interest rates that are among the bests in the industry, online banking, high daily purchase limits, monthly interest credit and much more.
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirstbank.com for latest updates.
