Secure, swift, and smart: Online savings accounts demystified

Secure, swift, and smart: Online savings accounts demystified

30 December 2023

Life is busy for most people these days. You have to manage work, family, social life, and whatnot. So, it is understandable that you barely have any time left for things like visiting your bank. But the good news? Banking no longer consumes too much of your valuable time. Technology has made banking fast, efficient, and stress-free.

Among many innovations, online savings accounts are a particularly valuable product of technology. They bring banking to your fingertips, simplify your finances, and most importantly, free up your schedule for more important tasks.

Safe, quick, and smart | The many perks of online savings accounts

From better online savings account rates and high security to premium features, know all the reasons to join the online savings account revolution.

100% paperless banking

Today, from opening an account to daily operations, everything happens online. By minimising paperwork, banks save on processing times and storage needs. As an account holder, you benefit from this approach through quicker transactions and less physical clutter. Electronic transactions not only save time but also reduce the environmental footprint, contributing to a greener and more sustainable future.

24/7 access

An online savings account means having access to your finances, anytime, anywhere. Be it early morning, late evening, or midnight, you can check balances, send money, pay bills, create fixed deposits, and download statements for all the transactions.

Most banks also offer 24/7 customer service to make sure support is always available. This all-time availability fits today's fast lifestyle and benefits of those who cannot visit banks during working hours. 

Interest rates that make a difference

Higher interest rates in digital savings accounts are a result of low operational costs for banks. Without the need for offline branches, banks save on space, staff, and maintenance costs. These savings let banks offer more attractive interest rates.

To leverage high-interest rates and make the most of other benefits of an online savings account, you can open IndusInd Bank’s INDIE Savings Account in just a few clicks. INDIE is a revolutionary digital banking app that lets you open a savings account online instantly and enjoy an interest rate of up to 6.75% p.a. This is one of the highest rates for savings accounts and can help your savings grow much faster.

Auto-pay feature to organise your finances

Most online savings accounts come with an auto-pay feature. You can schedule automatic payments for electricity, phone bills, water, EMIs, and investments. No more forgetting or delaying payments and penalties or service disruptions. It creates a structured routine and promotes discipline in managing financial obligations. 

High-security measures 

Concerns about the safety of online transactions are understandable. But a truly best online savings account prioritises security. Banks utilise advanced technology to protect your money and personal information. Features like encryption, secure login, and fraud monitoring are common. Real-time alerts and suspicious activity detection add more layers of defence. These notifications help you take quick action in case of unauthorised access or any unusual transaction.

Access to more useful services

Besides the above-mentioned benefits, you get more lucrative perks with an INDIE online savings account that boosts your banking experience. For instance, there is no minimum balance requirement. The INDIE Savings Account is a zero-balance account so you can open it right away without requiring any funds. Another useful feature is linking your fixed deposit with your savings account. Whenever you run low on your savings account balance, you can make payments directly from your fixed deposit.

Over to you

Recognising time as the most valuable asset, online savings accounts aim to match the fast, quick, and digital lifestyle that people lead today. The INDIE Savings Account takes it a step further with its superior and hassle-free banking experience. Embrace the simplicity of a 100% paperless process, higher interest rates, a flexible line of credit, and additional security measures.

So, download the INDIE app to open a savings account today and grab the opportunity to bank on your terms.

Disclaimer: Views are personal opinions of the author.
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. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.