With different types of Savings Accounts in the market, it can be confusing to decide which one suits you. After all, you want an account that will make saving, spending and other financial transactions convenient and efficient.
Here are some things to consider while selecting your next Savings Account:
1. Choose an account that best fits you
Understanding your earning and spending is vital to determine which account is ideal for you. This means that you need to assess your financial status and expenditure because an account’s withdrawal limit, minimum balance required, interest rate, charges, , offers and other banking features can affect your banking experience. HDFC Bank has a wide variety of accounts to cater to your general and specific requirements. Here’s a snapshot of them:
Specialé Gold and Specialé Platinum: Enjoy premium lifestyle benefits and enhanced transactional limits. Avail preferential pricing on lockers, Demat and trading accounts.
Savings Max Account – Earn higher interest on your savings and get free unlimited number of ATM withdrawals.
Regular Savings Account – Save more with super saver facilities and enjoy automated bill payment with BillPay service.
Senior Citizen’s Account – Get preferential rates on fixed deposits and accident hospitalisation reimbursement cover of Rs 50,000 per annum.
DigiSave Youth Account – Get first-year free Millennia Debit Card and enjoy special discounts and offers.
2. Purpose of opening the account
Before opening a Savings Account, you need to ask yourself certain questions – what do you want to get from your savings? Are you looking for a primary or secondary Savings Account? Do you want to make deposits or investments with this account? And any other thoughts that you may have. Based on your short-term and long-term financial goals, choose the right account. For instance, with HDFC Bank Savings Account, you can start deposits like Fixed Deposits, Recurring Deposits or even invest in Mutual Funds.
If you are looking to open a new Savings Account, make sure you choose a bank that promises to make banking a smooth journey right from the account opening process. HDFC Bank allows you to open a Savings Account instantly through a completely digital process. Get started by clicking here!
3. Look out for digital services
With digital banking becoming a preferred mode and the way forward, make sure you opt for a bank that offers necessary digital banking services. HDFC Bank, India’s leading bank extends a multitude of safe digital banking services to its customers via NetBanking and MobileBanking. Whether applying for a new Credit Card, cancelling cheques, applying for loans or investing in a new product, you can do it digitally 24/7 as an HDFC Bank Savings Account holder.
Mobile wallets are all about ease, and HDFC Bank PayZapp is one such e-wallet where you can make online payments without having to take out your Credit Card or Debit Card. Just link your account to the app and enjoy exciting CashBack on your transactions. To make your banking experience even more seamless, you can keep a track on your account via WhatsApp. Just feed “70700 22222” on your phone and message HDFC Bank.
4. A checklist of features
Thoroughly go through the features promised in your Savings Account, so that you are clear about what you’re signing up for. One of the foremost considerations is the interest rate offered by the bank. Next, the minimum balance, transaction/services charges, ATM and branch density, and the bank's trustworthiness are other parameters you should look out for.
5. Offers on shopping sites and more
To derive maximum benefit from your Savings Account, opt for one that frequently provides you with offers and deals. This will go a long way in helping you save each time you spend. For instance, HDFC Bank offers a wide range of benefits to its customers. From shopping/EMI offers on e-commerce sites and exclusive deals during festivals to discounts on food delivery apps and more; having an HDFC Bank Savings Account can be a rewarding experience.
If you are looking to open a new Savings Account, make sure you choose a bank that promises to make banking a smooth journey right from the account opening process. HDFC Bank allows you to open a Savings Account instantly through a completely digital process. Get started by clicking here!
Did you know you can personalize your bank account number? Click here to read more.
*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.
