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A Current Account Keeps Your Business Transactions Organized

From online classes to online payments, everything has become possible with the click of a button in this digital era. Banking is playing a highly crucial role in our life these days. People are opening all kinds of bank accounts now. In a savings account, people get interest amounts on their deposited money. However, that is not the case with current accounts. There is not even a debate regarding a current account vs savings account anymore. People who want to save money are opening savings accounts and those who want to do business are going for current accounts. It has become that simple now.

However, the banking service that you receive will depend a lot upon the kind of bank that you are choosing. If you want great services, you might check out the different variants of a current account offered by Axis Bank. It is one of the best banks and offers great services. You will not have to go through any lengthy process to open your account. You can get it opened from the comfort of your house.

Here are the different ways of opening a digital current account here:

 · You can go for the digital method and complete your video KYC. Businessmen who do not have enough time to go to bank branches can opt for this way.

·There is also another option where you can open a smart tablet-based account.

· At last, those who are not satisfied with digital processes can fill out the physical form and submit it at the bank branch.

The following people are eligible to apply for this account:

o   Undivided Family (HUF)

o   Sole Proprietorship

o   Company

o   Partnership firms

o   Trust

o   Government bodies

Here are the documents you will need to submit for opening a current bank account:

 For Sole Proprietors:

· The firm’s address proof

·The proprietor’s PAN Card

· The proprietor’s address proof

· A recent photograph of the proprietor

 For Private and Public Companies:

· Company’s PAN Card

· The incorporation’s MOA, AOA, and certificate

· Certificate of Commencement OR INC 21 of the company

· ROC receipt of the company

· Company’s address proof

· Identity proof of the signatories

· Board Resolution

· Address proof of the signatories

· A recent photograph of the signatories

· FATCA declaration

· List of DIN and directors

· Beneficial owner declaration

These requirements might change or vary from case to case. It might differ for different kinds of business as well.

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Boost Your Business with The Help of a Current Account

Savings accounts help normal people save money. However, current accounts are more suitable for businessmen and organizations. In the debate of a current account vs savings account, this is the main difference. Different people choose to open different kinds of bank accounts depending on their requirements.  Since both kinds are customized to meet their separate needs, it is beneficial for them.

 A current account is a kind of like a deposit account that allows you to carry out a considerably higher number of transactions. All the services related to this bank account are designed specifically for business transactions. Overdraft is a good example of those services. You will be able to get more funds than your maintained balance in the account. It will help you in emergencies and you can repay the bank later.

 If you are thinking about opening a current bank account, you can go for a well-reputed bank such as Axis Bank. They offer many kinds of current accounts along with customized features depending on the specific needs of your business. You can open your digital current account here without any hassle. If you want to know more about the process and documents required for opening an account, you can check their website.

 Even though you are choosing a reliable bank, there are certain things that you need to be careful about. Even if you think you are doing everything right, issues can arise at any moment. So, here are some things that you should keep in mind before you go to open your current bank account:

 · When you go to open your account, you will be given several options. So, it might get confusing. Thus, make sure that the variant of the current bank account you are selecting is compatible with the requirements of your business.

· When you apply for your account, make sure that the KYC video you are making for the verification is made in a well-lit environment.

· Make sure that you are well informed about all terms and conditions of opening your account. Read the charge schedules, guidelines, initial funding, etc.

· Make sure to check the eligibility criteria. If you do not fulfil the eligibility criteria and apply for opening the account, your application might get rejected. It is different for different variants of a current bank account.

·Make sure you have all the documents that will be required to open your account.

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Why Current Accounts Are Highly Beneficial?

You can now take your business to new heights and make it even more successful by opening a current bank account. In fact, this should be the very first step of starting a business. It will give the bandwidth to your business to transact whenever needed by just clicking a button. However, it is necessary that you choose a good bank with a high reputation such as Axis Bank.

If you open a current account here, you will get several advantages. They offer several digital services online such as RTGS/NEFT transactions 24 hours 7 days a week. You will also get properly customized offers and SMS alerts. They also offer Forex services on mobile and internet banking platforms as well. Rest assured that you will be able to make large transactions seamlessly.

They offer various kinds of current accounts and customize them according to the variable requirements of different organizations and sectors. There will be several features such as complete executions of your digital current account opening, various options on the limitation of cash deposits, zero-balance accounts, unlimited withdrawals, and more.

 You must have been wondering whether a savings account would be better for you. Well, in the debate of current account vs savings account, you can choose according to your requirements.

 Here are the benefits you will receive on opening current accounts here:

Opening current accounts in such reputed brands will allow you to run your business in a very smooth manner. Here are the features you will be offered:

· Whether it is a jeweller, a small or large company, a small business, or just a person who wants to start a new business, it is great for all of them. They will be allowed to choose from a huge variety of digital current accounts.

· You will be given the option of “Access to Overdraft. It means that there will a possibility that you will be able to store excess funds to use in times of emergency. You can immediately address urgent business requirements. This feature is not present in any other kind of bank account.

· You will get a free-of-cost chequebook. Also, there will not be any charges for the withdrawal of cash. The number of transactions will not affect this feature.

· There will be a varied range of limits for depositing cash. So, it will cater to all kinds of business across all scales.

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Bank Accounts Play a Very Important Role in Our Lives

Paying for anything with cash has become bothersome now. We often forget to carry our wallets and get into situations where cash won’t work. Thus, having a bank account that allows us to use internet banking freely is crucial. Earlier, people used to stand in a queue to pay their gas or electricity bills. However, there is nothing you can’t do with your phone now. Just pay your bills using the internet banking facility that your bank account offers you.

Having just any kind of account will not do the job. There are different kinds of bank accounts that come with different features. Those who want to save their money can open a savings account. For big organizations and companies, a current account will be more suitable as it will allow them to carry out big transactions easily.

· Savings Accounts

Savings accounts are suitable for people who carry out small transactions every day and save the rest of their money. You also get a good interest amount on the total balance available in your account.

Here are some remarkable features of a savings account:

1. If you want to build a habit of saving, nothing can be your greater partner than a savings account. You can set aside a portion of your money here every month.

2. Savings accounts can be used for investments as well.

 · Current Accounts

This kind of bank account is good for multinational companies, large business empires, etc. They make large transactions and have to keep a tab on all activities. So, there is no better option for them than this.

Here are some remarkable features of current accounts:

· Having current accounts build a good reputation among your clients.

· You will be able to keep a track of all your large and small transactions.

Lots of debates happen regarding the types of bank accounts. The current account vs savings account has always been a hot topic. But after reading this article, your dilemma regarding this will be solved. You can choose which kind of account suits you the best.

Nowadays, you can easily open your savings or digital current account online. Just make sure that you choose a bank that is trustworthy and has a good reputation among its customers. Well-known banks such as Axis Bank will do the work. They provide a wide range of banking services and do not disappoint their customers.

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Having a bank account is highly crucial

Earlier, we did not have any means to pay for anything unless we had cash. However, things have changed greatly and the era of cashless transactions has begun. In such times, having a bank account is crucial for fulfilling your financial obligations. You can use it for various purposes such as business transactions, personal savings, etc. If you have a bank account, it will make your money work for you, allow you to make transactions easily, and keep your money safe.

 Generally, bank accounts are of two types:

1. Savings Accounts

2. Current Accounts

 Savings Accounts

In a savings account, you can keep your monthly savings. In this type of account, you will get up to a 3% to 3.5% interest amount on your balance every quarter.

Current Accounts

A current account is more suitable for organizations to make regular transactions. There will also not be any limitations on the number of transactions.

 Savings Accounts Vs Current Accounts

People are often confused about this. They can’t decide whether they should go for a current account or a savings account. So, here is a summary of a current account vs savings account to ease your dilemma.

 Benefits of Savings Accounts:

·  It helps you a lot in saving money and making productive investments.

· The money you save can be used during emergencies such as sudden hospitalization, etc.

· You can use it as a primary account to make various kinds of investments such as fixed deposits, mutual funds, etc.

·It is useful for paying utility bills, booking tickets, etc. as you will have the option of paying via the internet banking facility.

 Benefits of Current Accounts

· Current accounts are highly suitable for professionals and businessmen as it builds a good reputation.

· It will allow you to keep a tab on your business-related transactions and separate them from your personal transactions.

· It will streamline your business transactions and allow you to work in a smoother and more organized manner.

·You will get 24x7 access to online NEFT/RTGS transaction options.

·Moreover, there will be no limits on cash withdrawals and free cheque-book issuance.

If you want to open your digital current account or savings account, make sure you go for a reliable bank. Highly renowned banks like Axis Bank offer a wide variety of savings and current bank accounts. You can read all the terms and decide which one suits you the best.

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Things that you must know before you get your first credit card

Applying for that first credit card online is one task that can daunt even the bravest of them. The thing is that the market is full of hundreds of credit cards which can make it hard to choose one from among them. It also does not help that there are so many horror stories circulating about how misusing these products could prove to be catastrophic for you. However, the thing with credit cards is that they are among the strongest financial tools as they help you build a commendably strong credit history. So, it is important to know what to focus on while choosing them.

There are different types of credit cards out there 

The kind of card you choose could go a long way in deciding the sort of credit card bill that you have to deal with in life. It is very important to have this knowledge as this would help you make the right choice in this case. So, are you new to these cards? In that case, choose a card meant for beginners like you, one that has a low annual fee. Always choose a credit card based on your needs and preferences as a consumer. If you like to shop a lot choose a card that offers you cash-backs and special deals.

Look at your income 

A credit card is a lot like a personal loan in the sense that they both lend you money and charge you a high rate of interest on the repayment of the same. This is why you need a strong income to be able to deal with the financial rigours of the same. This is why you would always see people selling these cards asking you for your income – they want to get an idea of whether you would be able to repay their debts or not.

Conclusion 

Getting your first credit card is always a major milestone. However, it is also not as easy as most people would like to think. You need to have a total understanding of how a credit card works – you also need to be extremely careful while reading the terms and conditions of the same. You must understand all the possibilities and odds before making a decision. Always try to get your first credit card from the best banks such as Axis Bank as doing so would make your life a whole lot easier in this context for sure. 

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How to apply for the Axis bank Flipkart credit card?

Customers can easily apply for and receive details of the Axis bank Flipkart credit card online with a few simple steps.

The first step is to open the home page for the Axis Bank Flipkart credit card.

The individual will then click on the "Apply Now" option displayed on the home page.

The individual will receive an SMS on their Flipkart registered mobile number.

They have to open the message and click on the provided link to continue the application procedure.

 What documents will be needed?

 A few documents will be required to avail of the credit card online such as:

Identity proof of the individual, such as a PAN card, Aadhar card, or Voter ID card.

Address proof such as Mobile bill, electricity bill, or any bank passbook copy.

ITR   acknowledgment proof.

Income or salary proof of the individual registering for the Axis bank Flipkart credit card.

 How to check the application status?

 After the application, it will take nearly 10 to 15 days for the bank to process it. The individual can track the progress with a few steps as follows:

Open the tracking page on the official website for the Axis bank credit card. 

The individual can track it either by the ID provided during the application or use their registered mobile number. 

Choose the method and enter the captcha then click "Submit" to complete. 

The next page that will open will show the details and progress in the application status. 

 Internet banking with Axis bank Flipkart credit card 

 The person can register the card for internet banking activation and then they can use it online. The existing account can also be used for the login.

 The steps are as follows:

Open the page of Axis bank internet Banking.

Existing customers can easily just log in to the page with their information. 

First-time customers should register thereby providing the details that will be asked.

Then they can register for Axis bank internet Banking facilities with their Flipkart credit card by Axis bank. 

The Pin will be generated either online or through their official app.

The individual can also call customer care to know the entire process and activate it from the ATM, and this will start with the credit card bill.

 It will be best if your savings account is with the same bank you have applied for a credit card. This way, you can automate credit card payments.

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Features And Benefits Of Using Axis Bank Flipkart Credit Card

Flipkart announced its association with Axis bank for the Axis bank Flipkart credit card back in 2019. This credit card made shopping easier and faster with many complimentary gifts and cashback. It helps the public to buy things they need even when they do not have the full money. People can convert their payments into various EMI and understand their future cash flow.

It can be used both on and off Flipkart such as Myntra, Swiggy, Uber, Ola, PVR, and many more. It also has lounge access while traveling domestically with added dining and fuel services.

 Features of Axis bank Flipkart credit card 

People can apply for credit card through banks or directly from websites after going through the terms and conditions.

The person applying can get issuance benefits of Rs 1100.

They provide up to 20% discount for dining under Axis bank partners with 4% for movie theatres (PVR).

The individual applying should be above 18 years of age and should have a monthly salary of or above Rs15000 to 30000 P.M.

1.5% cash back for using a credit card online and offline purchases. 

The interest rate is 3.4% per month.

The person withdrawing has to pay fees of 500/-, and it will be added to the next credit card bill.

In case the credit card is misplaced or lost, a 100/- fee is charged to provide a new credit card.

The credit limit of this card is between Rs 25000 to 5 lacs.

  Benefits of Axis bank Flipkart credit card

Axis bank Flipkart credit card gives a high rate of rewards and cashback from well-known brands. There is a 5% discount offer also available for e-commerce websites. 

The partner websites and brands also offer huge discounts of up to 4% and offer such as Myntra, Swiggy,     Uber, etc.

If compared to other entry-phase credit card benefits, this offers a 1.5% of reward rate.

Cashback is very advantageous for the user as it gives unlimited cashback. This will be carried over and adjusted every month with the statement balance. 

There is no mention of any upper limit for cashback which is also why it became very popular among shoppers. 

There are no lounging facilities or complimentary services for basic credit card users. Axis bank Flipkart credit card allows up to 4 domestic lounging access in Airports.

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How To Effectively Use A Credit Card

People use their credit cards in many ways. Shopping online or offline has been made easier through various offers and benefits provided by different banks. Now everyone can easily pay for hotels, flight tickets, or restaurants. The vitality is how to use a credit card effectively to save more on pocket.

The hassle of carrying liquid money everywhere is not needed anymore as nearly 47% of people in a survey mentioned how credit cards are more convenient. 

The steps to pay using a credit card 

The individual should present their credit card at the card/billing counter.

The individual at the counter or executive who will handle this will swipe the card into a machine or simply insert it into a machine.

They will ask you to enter the secret pin(it should not be disclosed in front of anybody).

Carefully input the pin and confirm.

The transaction is confirmed, this way.

The transactions can also not be approved if there are unpaid dues in your credit card bill or if you entered the wrong pin by mistake so it is necessary to do it carefully. 

 How to use a credit card online?

 These days almost every online site has a checkout option for credit card users. Paying with it is not at all complicated. 

  After the purchase is finalized, a payment gateway page will open.

The person will enter the card number as shown on the credit card.

Enter the required fields which will be the expiry date and CVV of the card.

CVV is the 3-digit number that is printed on the back of your credit card.

The billing address may also be required in some cases.

The person will receive an OTP on their registered mobile number or any registered email Id.

Input the OTP to complete the payments for the purchase and it will be taken forward to the credit card bill.

 Using Axis bank Flipkart credit card

This was launched for online shopping lovers who shop mostly online and want to avail of cash back on their purchases. 

People can use Axis bank Flipkart credit card to get the best discounts and cash backs with multiple offers that the website provides. There are also options for free and fast delivery.

The people can get exciting benefits and offers with gifts and complimentary services for users.

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Four Ways You Can Use Your Credit Card for An Optimum Credit Score

Credit cards offered by different banks can be a go-to option. It is very convenient to make quick payments using just a credit card that fits your pocket. When in need of an urgent expense requirement a credit card will come in handy even when you do not have sufficient money in your savings account. One can use the credit available and pay off the debt later to the respective bank. Some credit cards can also be used for getting money in terms of personal loan. The only thing to be kept in mind is that the repayment is made within the given time, say one month. Best credit card usage will help maintain a proper credit score. 

 Here are four unique ways you can stick onto while using a credit card for increasing the score:

 1. Go for interest-free credit cards:

While buying a credit card thoroughly go through the terms mentioned by the card provider. Buy a card that has no extra interest in utilizing it. Interest charges or hidden charges might be an additional burden while repaying the borrowed amount. In this way, even a huge sum used at a time can be repaid in instalments without hassle. This will positively impact keeping up the right score.

2. Pay off the debt even before the due date:

Check the time duration allotted for repayment of the used money. Keep track of the due date and settle the amount to avoid risks of a lower CIBIL score. Missed payments or arrears will affect the credit score. Understanding the answer to the question of what is a credit card is essential.

3. Avoid getting multiple credit cards from various banks:

The idea of a credit card might sound helpful but only when used appropriately. Unwanted usage of multiple credit cards will only add to the burden of debt. Even a single due unpaid for a longer time will be troublesome. Thus use a single credit card with loyal repayment for optimum credit score.

4.The credit limit is of major concern:

Credit cards will be provided after analyzing the income and repayment ability of the borrower. Cards with large credit limits are not preferred. Using only 30 per cent of the limit provided will be good maintenance. Further, there will be options available for the customers to choose the desired credit limit.

 Planning well in advance the expenses and perfectly following the credit card bill payment will aid immensely in building the credit score. Apply for credit card and enjoy the benefits.

The credit score is important for any kind of loan and further availing of money. Thus, use credit cards smartly for retaining the ideal credit score.

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Mistakes that you must avoid while starting a bank account

People apply for savings account because they serve a wide range of purposes for them. At a basic level, they are perhaps the safest option for you to be parking your extra money so that you can build up an emergency fund. Doing this also helps you create a relationship with the bank where you are opening the savings account. This way, you have access to several other avenues of investment as well. This also means that you could jolly well become privy to several exclusive and extra benefits being offered by the bank to valued customers like you. However, there are some mistakes that you need to avoid when you start a bank account.

It is not a tool for investment 

This is applicable even when you have a digital savings account that could offer you a significantly higher rate of interest on your savings. The word investment means a financial transaction that offers you returns at a rate that is higher than future rates of inflation. In any case, the interest rates offered by most banks are rather low – especially in the range of 3.5 to 4%. So, this is the major reason why bank accounts cannot be considered an investment tool. 

 You have to maintain your minimum balance 

You may like the savings bank account interest rate that you are getting from a bank but you also have to look at the minimum balance that you have to maintain over there. You have to make sure that you would have no issues in maintaining the same as otherwise, you would have to pay penalties for the same. This would also eat into the money that you are earning from your savings account and we are pretty sure that you do not anything like that to happen, right? 

 You may want to open such an account at a leading bank like Axis Bank because of the high-calibre services that you get from it. But please also remember that these services could be provided to you at a premium – the costs, in this case, could be high. Normally, when you have a privilege account you get these benefits and services that are not provided to the vanilla account holders. So, make sure that you do not have any problem with these fees and charges. Thus, as you can see for yourself, there are several factors that you need to keep in mind in cases such as these.  

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What Are the Different Ways in Which We Can Use Our Savings Accounts?

Why do we apply for savings account – what is the basic reason in this case? We do so because we want to keep our money somewhere secure where we also have the chance to grow it. It helps that we get all that we want in this regard from a normal savings account. It does not get much safer than keeping your money in a bank, does it? Keeping the money in a bank also means that you are getting interest on the same. However, you may not know this but there are several other ways in which you can put your bank account into use.

Paying your bills 

This is one set of expenses that everybody has to deal with. You have to pay your electricity bills, mobile bills, and cable bills at the very least, do you not? Then you may also have other expenses that you need to worry about in these cases such as your online shopping that you are so fond of doing. So, there is a lot on your plate in this regard? This is a major reason why a lot of people open digital bank account. They are simply in love with the kind of convenience that they get in these cases.

Making investments  

You may be getting a good saving account rate of interest from your bank right now. However, the way things are heating up on the inflation front things may not be rosy even a few months down the line. So, you have to find ways in which you can grow your money to such a stage that inflation is unable to touch you. There are various ways in which you can use the money in your savings account to do so. You can invest in shares if you like taking risks or in mutual funds if you are risk-averse.

Make sure that open your savings account at a top bank such as Axis Bank so that you can do all that we have talked about over here. These banks use the latest technology to make sure that you face no issues in paying when you shop online, or in your investments. They also make it easy for you to receive the fruits of such investments. This is especially evident when you have a fixed deposit in the same bank where you have a savings account. Having a good savings account is a prerequisite for a good life.  

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Is The Future of Banking Is Digital?

The future of banking is digital and there can be no doubt about it. This means sooner rather than later more people would want to open online savings account rather than offline one. It is expected that all around the world by 2024 the industry would cross the 3.6-billion-dollar mark. This statistic should not come as a surprise to you as such. It is basically a reiteration of what banks in general have known for some time now. The future of life, in general, is going to be digital and banking cannot be an exception to the same. 

The reasons for such a massive digital shift 

You would see that more people nowadays are going for zero balance account opening online than they did earlier and you may be happening why that happens to be the case. It is obvious that the Coronavirus pandemic played a major part in this by leading to digitization across industries and that too at the widest scale imaginable. During the lockdown, there was a gargantuan spike in online shopping and this meant that more people were using digitized payment platforms than before. There was a fast reduction in the usage of cash among the general people too. 

How can banks make this shift?

These days, a bank would be foolish if it thinks that it can lure people by offering a high savings account interest rate. There are plenty of other important factors that need to be taken care of. Cybersecurity is a major factor in this particular context. Banks need to make sure that they are doing their best to protect the sensitive data of their clients. They have to be able to integrate digital payment platforms, and also reduce the time that they take to address the issues being faced by their clients.

The thing with banks such as Axis Bank is that they are showing the ways in which others of their ilk could adapt to this shift. The first thing that banks, which are lagging behind, could do, in this case, is update their legacy data architecture and technology. They also must leverage the likes of AI (artificial intelligence) and RPA (robotic process automation) to assist their back offices. They must also follow the right pace when it comes to up-skilling their existing talent. They need to make sure that there is greater adoption of such technology across the board.      

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The Role Being Played by Online Banking in India’s Progress

India is steadily growing as an economic power and a lot of the credit in this case needs to be given to the people who work in the companies over here. The people over here have a growing wealth now and this has happened significantly because they now have greater access to modern financial amenities such as zero balance accounts. Thanks to their new wealth they are now getting opportunities that the earlier generation did not get. This is also benefiting the communities around them. In the past decade or so, the country has been integrated into the global economy and this has happened because of economic growth.

Increasing usage of technology 

Banks are now providing more facilities such as a digital savings account zero balance along with great apps to go with the same. This is why you have millions of people opening these accounts and downloading those apps. The leading banks in the country have now realized that they need to offer their customers more than digital banking. This is why they are envisioning detailed online platforms for their customers. They are creating digital banking for their convenience and financial superstores for their investment. They are tying up with partners and offering lifestyle products for their account holders.

This has been a major leap forward for sure 

People these days are not bothered only with bank savings interest rates when it comes to choosing a bank. They want financial marketplaces that are mobile in the truest sense of the word. The banks know this as well and this is why they are partnering with companies that are proven to have exceptional capabilities in these cases. This is why we are seeing the top banks in India partnering with the best names in the IT (information technology) sector around the world. They are arriving at these decisions following a lot of consideration.

Banks such as Axis Bank are focusing on developing customer journeys and a key part of this has been developing dynamic strength that helps them function at their very best at all times. They are building robust stability and security systems for supporting the solution. As part of creating intelligent workflows, they are using the latest technology such as AI (artificial intelligence), 5G, automation, advanced analytics, Blockchain, and Cloud. They want to change the very trajectory of their work as well as the nature of the same through the likes of greater visibility.   

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Benefits That We Want from Online Savings Accounts

Normally when we start a day all of us have various responsibilities that we have to take care of. This includes ones on both professional and personal fronts. You have to drop your kids to school, meet deadlines at your office, visit sites where your company projects are being carried out and meet clients. At the same time, when you return from work you may also have to shop for groceries. This means you have little time, if any, to visit your bank branch. This is where you want a zero balance digital account that provides you with all the facilities that you want from the same. 

It must offer you high rates of interest on saving 

Usually, offline savings accounts do not offer high rates of interest on saving. It normally stays within 4% in these cases. However, the savings bank interest rates on online accounts are much higher. It can go up to anywhere between 5 and 7%. In certain cases, these rates could change depending on how much money you have in your account. This is why this is something that you must check when you are opening these accounts. Apart from these, you want to be able to open the account easily. 

The fees must be lower

This is one of the biggest advantages that you would expect from your online account as well. Offline accounts tend to charge you for all kinds of transactions such as starting bank accounts and fixed deposits. Apart from that, you have to maintain a minimum balance in your offline bank account. On the other hand, in most digital savings accounts you do not have to maintain any minimum balance as such. So, this is something that your online savings account must provide you with as well. It must also not charge you any money for opening an account.

The thing with online savings accounts is one of the most important factors when it comes to managing your finances. However, when you opt for such an account you must get the best benefits such as the ones that we have talked about over here. You can be sure that if you open such an account at a top service provider like Axis Bank you would get a lot more benefits such as easy access to funds, banking while on the move, and automated bill payments. This is because these banks are reliable and trusted.