Unlike the banking style ten years ago, we now have a much different and advanced banking solution. With the least possible hassles, we can now have an account opened with the bank of our choice. It is likely due to the digitization of banking services.
Recently, We have noticed that banks offer instant opening of savings accounts through digital banking services. A digital savings account provides a paperless, secure, and quick way to start a bank account using a digital platform. In addition, they offer services such as instant transfer, SMS (short messaging service) banking, phone banking, and many such services. Apart from these, you also get SMS and email alerts for free from your bank.
I was looking for a bank with which I could open my savings account. After several comparisons, analyses, and even a lot of brainstorming, I concluded the best digital savings account by India’s leading bank. I contacted the bank and expressed my desire to open an account. Their response and customer support services were magnificent. The best and most fascinating thing I liked was their easy-going KYC process. I was amazed to see their unique digital KYC process. It was a video form quite efficient and less time-consuming.
I was pretty impressed with the convenience of the process and their punctuality. Everything was just as per the said schedule. It is one of the banks that cater to the best digital savings account services as far as ease is concerned. This digitization has simplified transactions as the account owner can avail of all the services at their convenience and from their comfort zone.
Advantages of Digital Saving Account
As we have already discussed above about the ease and convenience of opening a digital savings account, there are numerous other benefits as well. These are as follows.
Effortless account opening:
The account opening process for digital premium saving accounts is relatively easy. Unlike traditional banking, where the account opening process is prolonged with numerous hassles and a lot of paperwork, to open a digitally premium savings account, you only need a soft copy of your AADHAR and PAN + an email id & mobile number to verify your details.
Earning interest
These accounts are just like any other savings account that pays you interest on the money you maintain in your savings account. The rate of interest you get on your savings from such a bank always keeps changing based on trends and interest rates of the market. Still, they promise that you will get a decent interest on your savings from these accounts.
Easy access to the account.
Since childhood, we have all heard a common saying: bad times always arrive without warning. A sudden need for a large sum of money may arise at any moment in life. The reason could be a friend in need or a medical emergency. You need an emergency fund that you can access easily in such times of dire need. Ultimately, a fund is required for contingencies. In all such circumstances, digital savings accounts can help you easily access your money. You can easily access the funds using any smart device with an internet connection. Thanks to these accounts, it has now become easier to manage your banking work even when you are on the move.
These days, fund transfer is as easy as tapping your cell phone or clicking the mouse on your pc. However, you usually restrict the number of transactions you can perform monthly.
Unlimited money transfers for free
These accounts offer unlimited money transfers for free through media such as RTGS (real-time gross settlement), card payments, and NEFT (National Electronic Funds Transfer).
Quick access to everything
One of the most essential features of a digital account is that everything is at your fingertips, literally. Want to check your account balance? Open the app. Do you want to transfer money to someone holding an account in the same or a different bank? NEFT, RTGS, and IMPS options allow you to move money without standing in a queue for as long as life. The account usually offers an e-statement option. Again, this means instant access to your account spending/income history. No passbook queue drama, plus going the e-way is cutting down on paper and thus eco-friendly! Too good to be actual multi-dimensional benefits.
Most digital accounts still need to have the requirement of maintaining a minimum balance. If you do not have a savings account, it is time to open one digitally now!
Conclusion
In this tech era, digitization of every factor is an undivided part of life that makes things easier. A digital savings account is one such factor that makes daily banking-related tedious tasks easy so that we can focus well on other things.
