Features that must be offered by the best digital savings account

Finding the best bank to open a savings account is daunting for most individuals since almost all banks offer savings accounts with similar features. Also, it becomes difficult to distinguish among online bank accounts if one does not know what to look for. This article enlists five features that an efficient digital savings account of the day offers.

Help the customer save more.

A combination of several features makes IDFC FIRST Bank’s savings accounts a popular option among customers. Besides offering high-interest savings accounts, IDFC FIRST Bank focuses on helping customers save more. High-interest rates of up to 6.75% annually with monthly interest payments help customers save more. Additionally, the bank’s Zero Fee Banking policy helps customers avoid the fees on 28 savings account services, including NEFT (National Electronic Funds Transfer) transfers and ATM withdrawals. The robust mobile app offers the Track My Expense feature, allowing customers to categorize previous expenses and draft efficient budgets.

1. Quick online fund transfers

New-age digital savings accounts are automatizing recurring payments. A good example is IDFC FIRST Bank’s Auto Pay feature which helps customers conveniently pay utility bills online. The One-Swipe Pay feature is another mode of transfer that facilitates quick online payments. Besides these modes, IDFC FIRST Bank also supports NEFT, IMPS (Immediate Payment Service), RTGS (Real-Time Gross Settlement) and UPI (Unified Payments Interface) transfers. Having multiple options to choose from can help customers avoid an over-reliance on a single online transfer method.

2. Secured access to all banking services

All banking services should be easily accessible by logging in to your online bank account. Today, banks facilitate investments and access to instant online loans through their mobile apps. You can check your bank account balance anytime through the app. Furthermore, customers can download their bank statements conveniently using a mobile banking service. Customer service, too, is more accessible through mobile banking today. IDFC FIRST Bank offers all-time access to its customer support team through its mobile banking app.

3. Enabling customers to open a digital bank account online

Most popular banks facilitate a paperless, digital account opening through their mobile apps. They offer specialized features through their digital accounts and ensure secured, all-time access to banking services. Digital banking accounts also have additional security measures; for instance, biometric login.

4. A well-designed and efficient mobile banking app 

Your mobile banking app defines your overall banking experience today. Very few banking services require customers to visit a bank branch in person. You must therefore ensure that a bank offers efficient mobile banking services before choosing its savings account. IDFC FIRST Bank’s mobile banking app focuses on helping customers save and access all banking services without any hassles and charges.

You must opt for any banking app that offers these features through its digital banking accounts and easily accessible customer support to address your queries. Always choose a bank with a laser-sharp focus on enhancing your savings and robust banking for a superior experience.