In a zero-balance digital savings account, there is no minimum balance requirement, meaning that the account balance can drop to zero without incurring any fees. However, maintaining a minimum balance in the account is one of the most challenging tasks. Therefore, an online investment app is handy for all of us, including students, homemakers, farmers, and lower-middle-class people who need help opening an account in the bank with a higher minimum balance.
Nowadays, banks administer various accounts based on gender, occupation, income group, etc. The essential services available for the basic savings bank deposit account include deposit and cash withdrawal at bank branches and ATMs. We should open savings accounts online to get all our basic needs instantly and without hassles.
Why Should We Use A Digital Banking Platform?
- We get a 100% digital account with no branch visits and no paperwork required.
- It rewards debit cards, credit cards, and UPI payments.
- We can open a bank account at any time with the help of a digital banking or investing app, which requires no maintenance charges or hidden fees.
- Customers can track their overall spending by different categories to know their daily, weekly, and monthly expenses.
- It allows us for online investments in mutual funds, gold, the stock market, and insurance with higher returns than regular funds.
- Moreover, we can view all our bank balances, keep track of all our loans, and see how our mutual fund investments are performing.
- Another advantage of using a digital banking app is that we need to submit our Aadhaar card and PAN card to open a free bank account online.
Best-In-Class Services It Offers:
- We can now enjoy convenient online banking and invest online by opening our new savings accounts immediately from the comfort of our homes.
- There is no requirement for any tedious paperwork or the need to wait in queues to open a bank account or online investing.
- An instant bank account allows us to access our account anytime, anywhere through a vast network of branches, ATMs, net banking, and mobile banking.
- Customers can find online banking easy, safe, convenient, and rewarding, with excellent interest rates and personalized service.
- We can send money to family, friends, and businesses from our instant savings account within a few minutes.
Currently, completing sign-up on any mobile banking app is extremely easy. But, most importantly, we need a few bank account details such as our credit or debit card PIN and our internet banking password. In addition, we need to go through a one-time activation process as we log in for the first time on the app.
Presently, we do not have to worry about security with any online banking platform, as banks place the utmost importance on their customers’ privacy and safety. These platforms always ensure they will never share personal information with a third party without our permission. Now it is mandatory to take consent from the users to access their mobile numbers, location, photos, files, SMS, etc.