Banks have improved their methods of reaching customers and offering their products. You can use the internet and customised mobile apps to access banking products conveniently at any time and from anywhere in the world. Having an online account is a necessity these days, thanks to the rise in promotion of Digital Banking services.
One of the essential services offered by banks is the Zero-Balance online Savings Account opening. You can open an account online without worrying about minimum account balance maintenance, as it becomes easier to make transactions without physical bank visits. The account does not have average monthly balance criteria, making it a highly preferred Bank Account.
High-yielding interest rates
Though the market offers several instrument options, nothing can beat the interest rates offered by a Basic Savings Account. Savings account balances earn high-interest rates while keeping deposits free of market risk. Usually, the Savings Account interest rates range from 3% to 4%, which offers good returns with no lock-in period.
No penalties
Most Savings Accounts require a minimum average balance. Not maintaining the minimum balance invites penalty charges on the account holder. However, an online Zero-Balance Saving Account does not have any such criteria. Since it requires zero balance, there are no penalties or limits on storing money. You can deposit as many funds as required and even withdraw the whole amount without further interrogation.
Exciting offers
With Zero-Balance online Saving Account opening, you can also access exciting offers and privileges. Register on the Net Banking portal to grab customised shopping coupons and discount vouchers.
Ease of transaction
The days are gone long back when banking was a hectic task. Thanks to Online Banking, it has become effortless to access banking services. Tap to access all your account details and sign in to Online Banking for unlimited services. This feature cuts down the dependency on one-to-one banking, especially when it comes to cash withdrawal or fund transfer facilities.
Auto-debit facility
Every bill payment does not need to cause stress and worry, as you can now keep track of the due dates through the banking app. You can set the auto-debit facility for bill payments on it, ensuring you have a sufficient account balance. The bank will automatically debit the due amount from your account on the due date. It can make bill payments easy and convenient.
Other benefits
You can also earn interest on your savings and deposits in the account every month. After reading the eligibility criteria, you can also benefit by submitting an online Savings Account opening application with the relevant documents.
Conclusion
With inflation, you need to remain careful with your expenses. By opening a Zero-Balance Account, you can store funds for the future without worrying about the deposit limit and access them anytime using your Debit Card.
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