Financial Securities – 4 Steps to Achieve Financial Security with Savings Account

Ever since you were a child, you may have seen your parents talk about spending less and saving more. The bundle of cash carefully tucked under a pile of clothes, a piggy bank coin collector, and old wallets full of currency notes are all forms of savings. However, the new-age world requires smart money management techniques to save money. A savings bank account is a perfect option that not only stores cash but also helps it grow with periodic interest.

Let’s find out more about how a savings bank account like the IDFC FIRST Bank’s Savings Account can help you with budgeting, saving, and securing yourself financially.

Get the best features

The first step in a savings plan requires you to pick a suitable instrument for your savings. It is important to save regularly and find a tool that makes saving easy, offers growth on your money, and provides you with convenient banking options. The IDFC FIRST Bank’s Savings Account can be the ideal way to save your money with up to 7% interest that helps your money grow and counter inflation. The bank offers easy to use mobile app and net banking options that let you be in touch with your finances anywhere and everywhere. In addition to this, you also get a free personal accident insurance cover worth Rs 35 lakh and a free air accident insurance cover of Rs 1 crore.

Quick to open

IDFC FIRST Bank offers an utterly hassle-free account opening process. You can open your account digitally. The procedure is entirely paperless, and you can finish the KYC (Know Your Customer) process through a video call. It takes just a couple of minutes to complete the formalities, and you can start using your saving account for better money management as soon as it is open.

Earn monthly credit on your savings

Get a chance to reach your savings goal sooner with regular credits. IDFC FIRST Bank provides you with a monthly credit on your savings instead of the quarterly credit that has become an industry norm. You also earn interest on interest. This makes a significant difference in the long run and can be a great incentive to save money. 

Enjoy great Debit Card deals

You can enjoy free and unlimited ATM transactions at any bank in India through your free of cost debit card that you get after opening your account. This means extra savings and no wastage on unnecessary card fees and charges. Moreover, you can earn a 10% cashback on your first card payment at select merchant transactions. This way, you can use your monthly expenses to earn money. The bank also offers a daily withdrawal limit of Rs 1 lakh for high liquidity that can also be used as an emergency fund. 

Using the right savings account can make all the difference to your financial security. In addition to this, make use of savings tips like automating your savings, fixing a savings rate, and keeping a check on your spending habits.

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.