In the current digital era, where everything is just a click away, it is no surprise that even our financial habits have taken a digital turn. One crucial example of this transformation is the rise of digital savings accounts. These accounts have swiftly become an integral part of the financial vertical, offering various benefits that cater to your present-day needs and preferences.
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Significance of digital savings bank account
A digital savings account permits you to manage your money from anywhere at any time i.e., makes the bank available to your fingertips. It not just offers convenience, but even allows you to control your parking without any hassle of facing conventional banking processes. So, for the ones who are new to banking or those looking to switch to a technologically advanced route, a digital bank account is a seamless entry point.
Criteria for a digital bank account
The process is designed to be inclusive and accessible. New-to-bank resident individuals above 18 years of age can easily open a digital savings account, with no prior banking relationship required. These accounts are available for single holding capacity.
To get started, here are the minimum requisites
Savings account PRO – An average monthly balance (AMB) of Rs 10,000.
Savings account PRO plus – An average monthly balance (AMB) of Rs 25,000.
Benefits of a digital savings account
Generous rewards
Saving money becomes a lot more exciting with the rewards that come with a savings account. From cashback on online purchases to discounts on specific transactions, these accounts are designed to give back to you. The more you save and transact, the more you are rewarded.
Lifestyle benefits
A digital savings account is not just about storing your money; it is about unlocking various lifestyle perks. Many digital savings accounts come with tie-ups and partnerships that offer discounts on dining, shopping, entertainment, and travel. This means you can save while you spend on the things you love. Imagine enjoying your favourite meal or booking a getaway at a fraction of the cost – all thanks to your digital savings account.
Convenience of banking within reach
Gone are those days of standing in long queues at the bank branch. With such digital accounts, you can access your bank account from anywhere. From paying bills to transferring money, you can manage all your banking requirements via the website or a user-friendly mobile app. So, it allows you to bank at your conditions, permitting you to take total charge of your money at your own pace.
Security and accessibility
Concerns linked with the safety of a digital transaction are valid, but digital accounts prioritise security. Such accounts are well-equipped with high-end authentication and encryption to ensure your funds are safe from unauthorised access. Moreover, 24/7 customer care support is just a chat or call away, offering you quick assistance whenever the need arises.
Ending note
A digital savings account is not just a futuristic trend – it is a financial instrument customised for the present-day lifestyle. Owing to its lifestyle benefits, rewards, convenience, and security features, it is considered a perfect choice for anyone looking to manage their funds effectively. So, if you are looking to begin a rewarding and stress-free banking journey, a digital account could be a prudent choice.