How Can The Right Savings Account Help In Paying Off Debt?​

Deposits, withdrawals, tax saving – these are just some of the benefits of a Savings Account.
But it also helps with debt payments.
Wondering how? Read on.

Interest income

Choose a Savings Account offering the best interest rates on your balance for higher returns. Higher returns = more savings = easy debt payments.

Frequent interest credits

If the interest gets credited to your account frequently, compounding increases the returns. Again, higher returns = easy debt payment.

Low cost

Savings Accounts with low charges reduce your expenses. Reduced expenses = higher savings = easier to repay debt.

Expense tracking

If your account allows you to track your expenses, you can monitor your spends better, reduce unnecessary ones, and save more for easier debt payments.

IDFC FIRST Bank Savings Account scores on all these points. With competitive interest rates, monthly credits, and zero fee banking on all services, you get better returns.

Plus, the IDFC FIRST Mobile Banking app helps you link multiple accounts and track expenses. So, open the right savings account and manage your debt better.