Having access to a savings deposit is a convenient way to save money and organize your expenses. While opening a savings account is simple, it can become a hassle to physically go to the bank and apply. Here’s where technology and new-age banking come to your rescue.
If you wish to manage your finances from the comfort of your home, opening an online savings reserve makes a ton of sense for you. However, despite its increasing popularity, one question that still troubles many people – Is opening a savings account online safe? Let’s find out!
Are Online Savings Accounts Safe?
To answer this question briefly - yes! Online savings accounts are a completely secure way to reserve your money. With technological innovation, banks have made it easier and safer for customers to open a virtual bank account.
Since customer privacy is a priority, institutions like IndusInd Bank use trusted networks that keep your information from getting stolen. However, you must practice security measures to ensure that your personal and transactional details are protected.
Features of an Online Savings Deposit
Now, let’s take a look at some of the exciting features of virtual savings accounts to understand what makes them popular.
Operate Account from Anywhere
Opening an online savings bank account is convenient as you can operate it any time and from anywhere. Thus, if you need to make a quick transaction or shop online, your online savings deposit can step up to the task. The process is quick and simple and can be carried out through the official website or the mobile application of the bank. Moreover, since you don’t have to use a third-party website, it becomes a highly safe process to follow.
Keep Track of Your Finances
Having an online bank account means you get access to all the banking facilities at your fingertips. You can check your account balance, account statements, transfer money, or get in touch with customer service if you face any issues while banking. Also, with mobile banking apps, you can keep track of your transactions with ease.
Enjoy Minimal Documentation
When it comes to applying for a savings account online, you need not worry about endless paperwork. Financial institutions like IndusInd Bank, for instance, require you to submit only your Aadhaar card and PAN card. Hence, you don’t need to grab various documents at the last minute. In fact, you can carry out the entire process in a matter of minutes and get time to just sit back and relax!
Related Reads: Know about EQUITY LINKED SAVINGS SCHEME
How to Open a Savings Deposit Online?
While the process can differ from one bank to another, here are the steps to apply for an online savings account with IndusInd Bank:
Step 1: Visit the website or download the mobile app of the bank.
Step 2: Enter your Aadhaar card and PAN card details.
Step 3: Verify your details with the OTP sent to your phone number.
Step 4: Fill in the necessary account-related details and apply.
Also, for the Indus Delite savings deposit, you must undertake a face-to-face KYC verification within a year of opening the account. And as soon as your authentication is complete, your deposit will be ready.
The Bottom Line
In a nutshell, if you want to avoid standing in queues and leverage smart banking solutions, open a savings account online. But make sure to choose an institution like IndusInd Bank that provides maximum security and competitive interest rates on your savings deposit.