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Enhance your savings experience with a feature-rich savings account

29 Oct 2024 by Team FinFIRST

Feature Rich Savings Account

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Do you wish to enhance your savings experience by growing your savings at a consistent rate over the long term? If yes, you should consider opting for a “feature-rich” savings account. Read on to know about the key features that you can find in the best savings accounts and how you can apply for one.

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How should you use your savings account for maximum benefits?

Benefits of a feature-rich savings account

Here are the key benefits of feature-rich savings accounts:

You can access all online banking services 24/7:

Using your phone, you can access all the banking services offered by a feature-rich savings account 24/7.

More opportunities to save and grow your money:

A feature-rich savings account helps you increase your savings. IDFC FIRST Bank’s digital savings accounts offer the following features to help you grow your savings–

- Zero-fee banking: Waives the fees and charges on all commonly used savings account services which include zero charges on debit card issuance, DD issuance, NEFT, RTGS, and IMPS transfers, etc., thereby helping you save more in the long run.

- Competitive interest rates: IDFC FIRST Bank’s savings accounts offer you competitive interest rates that help enhance your savings.

- Monthly interest credits: You can also benefit from monthly interest credits as an IDFC FIRST Bank savings account holder.

Free and unlimited ATM withdrawals:

IDFC FIRST Bank’s savings accounts offer this feature, enhancing the convenience of managing your finances.

Quick account opening:

Opening an IDFC FIRST Bank savings account is quick and effortless. You can open a feature-rich savings account simply by logging in to the bank’s app on your phone.

The Autopay feature on the IDFC FIRST Bank mobile banking app can help you automate your regular monthly payments (e.g. – payments towards rent, EMIs, etc.)

How to apply for a savings account?

Here are the steps that you must follow to apply for a savings account:

Step-1: Click on the link:

Visit the savings account section or click on the link to open your savings account. You can also download the IDFC FIRST Bank mobile banking app to apply for a savings account instantly.

Step-2: Fill up your information accurately:

After clicking on the link, you will find an online form. Fill in all your personal and contact details accurately.

Step-3: Select your savings account variant:

IDFC FIRST Bank offers two savings account variants - 25K AMB and 10K AMB. Choose an account that suits your financial objectives.

Step-4: Fund your account online:

Once done, you get access to your account. Fund your account with a minimum amount of your chosen AMB variant.

Step-5: Complete your video KYC now to transact freely:

After funding your account, you need to complete the V-KYC (Video KYC) process to enjoy all the account features. The video KYC is available at your convenience anytime during banking hours.

Maximising the use of your savings account

The primary objective of a savings account is to help you increase your savings. Here are the things you can do to maximise the use of your savings account:

Maintain a higher balance: With IDFC FIRST Bank offering one of the best savings account interest rates in the industry, earn more interest by keeping a healthy balance in your account.
Leverage digital banking: Use the IDFC FIRST Bank mobile banking app to track and manage your funds efficiently with inbuilt tools and an account summary dashboard with IDFC FIRST Bank’s digital banking feature.

Conclusion

To choose a feature-rich savings account, you must research well online, prioritise the features that matter to you, and choose a bank that prioritises the growth of its customers’ savings. You can also use a savings account interest rate calculator like the one on IDFC FIRST Bank’s site to better define your savings-related goals before opening a savings account.

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.

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