It’s a clear proof that we are swiftly heading towards digital banking services as they’re way more convenient and hassle-free. Thus, having a zero saving account online is counted as a basic need these days. Having an online account makes it easier to conduct day-to-day transactions without the need of rushing to the bank every time. Besides this, there are numerous other benefits of having an online bank account.
So, without wasting much of time, let’s move forward to get basic understanding of what is online account and what are its features and benefits.
A zero saving account is a bank account that comes with additional benefits and privileges to the accountholder. As the name suggest, the account doesn’t have any average monthly balance criteria, which makes it a highly preferred bank account. Most of the saving accounts these days have a minimum average balance requirement and not maintaining the minimum balance invites hefty penalty charges on the accountholder. However, online saving account doesn’t have any such criteria and thus, the accountholder has the flexibility to access the deposits without fearing of any penalty charges.
Features and benefits of saving account online:
Ease of transaction – The days are gone long back when banking was a hectic task. Thanks to online bank account that today it has become extremely easy to get access to banking services. All your account details are just a tap away now. All you need to do is sign in to internet banking or mobile banking to get access to unlimited banking services. This feature cuts down the level of dependency on one-to-one banking, especially when it comes to cash withdrawal or fund transfer facilities.
High yielding interest rates – Though, the market is flooded with several investment instruments, but nothing can match the benefits of a zero saving account. While the investment instruments like shares and mutual funds claims to offer high returns upon maturity, but it also involves high risk of market fluctuations. On the other hand, saving account balance earns high interest rates, while keeping the deposits free of market risk. Usually, the interest rates on saving account ranges from 4% to 8%, which accounts for good returns with no lock-in period. Therefore, subject to dual benefits, saving account makes a great instrument to park your hard-earned funds within.
Auto-debit bill payments – You must agree on how big headache it is to keep a track of all due dates to ensure timely payments. Though not anymore. With online zero saving account, you can enable auto-debit option to pay off all the dues (like loan EMIs, credit card bills, and other utility bills) with ease. Once you enable auto-debit option, your bank will automatically debit the due amount from your account on the due date. This is the most convenient way to make bill payments on time. However, all you need to ensure is your account having sufficient balance to debit the due amount.
Exciting offers – Who else doesn’t want to earn additional privileges? Online saving account comes with extra perks of exciting offers. Just sign in to your netbanking and grab your customized shopping coupons and discount vouchers.