The most essential feature in a savings account is its interest rate. However, while researching savings account interest rates online, you must focus on features that help you save more. Banks offering the highest interest rates might not help you increase your savings. Here is a list of five online accounts that can help you access all banking services securely.
- Choose IDFC FIRST Bank to increase your savings
For any customer who wishes to save more in the future, IDFC FIRST Bank is the most efficient mobile banking app. Its Zero Fee Banking on 28 commonly-used savings account services and other savings-friendly features help customers significantly increase their savings.
- IDFC FIRST Bank’s savings accounts help you avoid the fees of twenty-eight banking services via the Zero Fee Banking feature. These services include RTGS (Real-Time Gross Settlement) transfer charges, NEFT (National Electronic Funds Transfer) fees, Balance Certificate issuance charges, and ECS return charges. Since these fees add up to a considerable sum over time, customers can save more in the long run.
- Customers receive monthly interest credits by signing up for an IDFC FIRST Bank savings account.
- IDFC FIRST Bank offers one of the highest savings account interest rates up to 7% p.a., thanks to which accountholders can effectively build their savings.
- The ‘Track Your Expenses’ feature on the IDFC FIRST Bank mobile banking app helps customers categorise their previous expenses to save more in the future.
Opt for Kotak Mahindra Bank to benefit from superior features
Kotak Mahindra Bank helps you earn FD (fixed deposit)-like interest through your savings account:
- Customers need not pay any monthly account fees through their savings accounts.
- Kotak Mahindra Bank offers healthcare benefits through its savings accounts.
- You can set a savings goal through the bank’s app and track its status through your account online.
HDFC Bank’s mobile app offers high-level security
- HDFC Bank offers the Sweep Facility through its accounts, allowing customers to opt for an automatic transfer of their bank balance to a slab with a higher interest rate.
- You can use HDFC’s locker facility and benefit from a 30% discount on annual locker fees.
- Your bill payments can be automated through the HDFC app.
ICICI Bank facilitates quick, online fund transfers
- ICICI Bank offers pre-approved loans to customers through its mobile banking app.
- Customers can view and manage their ICICI credit cards through the app.
- Customers can facilitate quick online UPI (Unified Payments Interface) transfers through the app.
Open an instant FD through the SBI YONO app
- State Bank of India’s (SBI) YONO app helps customers instantly open a fixed deposit or recurring deposit account.
- The ‘Quick Transfer’ feature helps customers make instant online fund transfers.
- SBI also helps customers check their account balance instantly.
The only medium of accessing an online bank account today is a mobile banking app. You must prioritise two features while assessing a mobile app – its overall security features, and the accessibility that it provides. IDFC FIRST Bank is popular for facilitating all-time access to its customer support team through its app. You must choose an online app that lets you access your bank account 24/7.