You might have probably heard about a savings account, but did you know the importance of a digital savings account by any chance? This is going to be your avenue to open up a savings account anytime you want and from any suitable location! It comes with some additional features like cashback on online spending, virtual debit card, customer verification through KYC and more. It will offer that great option to those people who love to bank digitally and don’t feel like visiting the bank physically.

What to look for in a digital savings account?

There are several factors that you need to consider when choosing a digital savings account. The primary ones include:

Easy to access and operate

A digital savings account can be a great way to save on fees and paperwork. Digital accounts typically involve taking pictures, which is much easier than filling out tons of forms or going into your bank branch every month for an appointment with them! There’s no need anymore because all you really have to do is scan some signatures at home using your phone camera before submitting them digitally. Ensure that your bank offers this feature.

Access to a wide range of digital services

In today’s world, you have access to a wide range of banking services from your mobile device. With the reputed bank, you get to access features like Internet and Mobile Banking. This makes it possible to manage all aspects in one place without having to do any extra steps besides logging on when needed or going online for an initial set up process that might take less than five minutes!

Quick activation of linked services

Apart from opening up your savings account online, and without physical documentation, the Digital savings account will present you with online access to hundreds of services of the said bank.

A digital savings account is similar to a standard one in many ways, but the difference lies with how quickly you can get access. With everything happening online and immediately available at any time of day or night, there’s no need for an extended wait period before being able to use all the said features!

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Once you have successfully completed the application form, you will receive your account details, including your virtual debit card. After one back-end verification, you will get an activated account under your name. The duration of this process will vary from an hour to even a few days. It solely depends on multiple factors.

In case if you have not received a confirmation email regarding activation of your account after 4 business days, make sure to give a call at the service centre number. This way, you will get detailed information about your account’s current status. You will enjoy secured transactions through UPI, Debit card, NEFT and more through your digital savings account. Moreover, there is an online reward or physical debit card available with the e-debit card. Each one comes with exclusive offers over here.

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