A savings bank account is a bank offered service that allows you to put money away towards savings or general expenditure. While your money is in the bank, you continue to earn interest on the contributions that you make. Money that you do not require in the immediate future should be kept in such an account to avoid unnecessary expenditure and reap high interest.
A savings account acts as an emergency fund which you can rely on when you have an unexpected emergency. Not just this, opening a savings account with a renowned bank such as IndusInd Bank also enables you to earn a lot of rewards and benefits.
Still doubtful whether you need to open a savings account? Here are some reasons to have a separate savings account for your financial planning.
Safe from Market Fluctuations
If you are looking for a risk-free option to save money, opening a savings account is the best bet. While your funds remain safe with the bank, it continues to grow as the bank makes small additions to your account on a regular basis. The risks of loss you face with such an account are virtually non-existent as your funds are federally insured. In addition, there is hassle of paying any penalty on premature withdrawal of funds. Unlike Fixed Deposits, depositors have the convenience to withdraw funds from their savings account whenever they need it without paying a penalty.
High Interest Rate
With the IndusInd Bank’s online savings account, for instance, you are assured an interest rate as high as 6%. While you are planning your finances, make sure you open a savings account to accumulate all the extra money that remains at the end of all expenditure. This will ensure that you always have a buffer in the event of an emergency.
Host of Rewards and Benefits
Opening a savings account can also help you earn a host of rewards and benefits. You can easily avail the option of making your savings bank account a zero balance account. Whether you are ordering food, shopping or booking a cab, opening a savings account with IndusInd Bank can help you earn some exciting rewards and benefits.
Hassle-Free Account Opening
Now, you don’t have to wait in a queue to open an account. With the help of IndusInd Bank, you can easily open a savings account from the comfort of your home. All you need is your Aadhar card and PAN card handy to open your account without any hassles.
Where & How Can I Open a Savings Account?
With IndusInd Bank, you can easily open a savings account from the comfort of your very own house. It is an Aadhar E-kyc based account that does not require any kind of physical documentation. You can further download the IndusInd mobile App and continue to fund your account with the click of a finger.
Anyone and everyone 18 years and older with an Indian residency is eligible to open an IndusInd online savings account. You can also make a physical visit to the bank to open such an account, but with changing times, banking procedures have also undergone a sea change.
Along with all other financial instruments, you must ensure that a separate savings account is also part of your financial planning in order to secure a safe and stable future.
Hey, this is Johny Sehgal. I am the owner and caretaker at Finance Jungle. I completed my education in BSC and now heading towards the digital marketing industry. I usually have interests in reading, playing games and watching movies. I also love to write content based on quality information. The main motive of mine is to provide the top and best quality information to my readers. Finance Jungle is the blog for the same.