5 benefits of having a savings account

5 benefits of having a savings account

27 December 2023

Imagine a financial tool that simplifies your life, organises your expenses, and helps you prepare for future adventures. This is the convenience of savings accounts. They offer a hassle-free way to manage your daily finances. You can easily pay bills, save for unexpected events, make investments, or even put money aside for your next vacation. The ease of handling money through a savings account brings a sense of security and discipline to your financial life. But that’s not all. There are more benefits to having a savings account than most people know. Have a look.


High-interest rates

Gone are the days when a savings account was just a place to keep your money and earn nominal interest rates. You can now leverage the best savings rates with IndusInd Bank’s INDIE Savings Account and watch your savings grow. You can earn substantial returns on your INDIE Savings Account balance with an interest rate of up to 6.75% per annum. Such a high interest rate allows you to make the most of your savings while maintaining liquidity at all times.


Link your fixed deposit

Have extra funds and want to earn a higher interest rate? Open a Fixed Deposit with INDIE and enjoy interest rates of up to 7.5% per annum. If you’re worried about losing access to your money until the fixed deposit tenure is up, simply link your fixed deposit to your INDIE Savings Account. If unexpected expenses crop up or when you run out of your savings account balance, you can make payments directly from your fixed deposit.

Just activate the facility  on the INDIE app, get liquidity 24/7, and watch your savings grow without any hassle.


Spend and earn through cashback and rewards

Who doesn't like getting rewards? With the best savings accounts, every time you swipe your card or make an online purchase, you can earn points and turn them into cashback. This means each transaction not only pays for what you need but also gives something back to you. Moreover, you get exciting offers across various categories like fashion, travel, dining, and shopping. Such benefits of savings accounts make your regular spending more rewarding. For instance, with your INDIE Savings Account, you can pick any three of your favourite brands and earn up to 3% INDIE Gems on them. One Gem equals ₹1, and you can redeem these Gems instantly as cashback or vouchers.


Get more control over your budget 

Tracking your expenses and having a budget in place is the foundation of personal finance. Savings accounts often come with handy online tools that help you effectively manage your budget, monitor expenses, and prioritise financial goals. With the INDIE Savings Account, you can make the most of MoneyMate to track your expenses, analyse your spending, and create monthly budget goals. Such an approach helps you see where your money goes, stay organised, and take charge of your financial destiny. 


Take your bank account everywhere through mobile banking

It is a digital world today, where people usually lead a hectic lifestyle, and the demand for convenient banking experiences is high. Mobile banking apps are the answer to this need. Take INDIE, for example. It's not just a digital banking app, it's your 24/7 financial partner. From opening your INDIE Savings Account online to getting an instant line of credit, get it all done with just a few clicks. Such accessibility makes your savings account as dynamic as your lifestyle.


The impact of a savings account on your finances

From growing your savings with high-interest rates to getting rewards on every purchase to managing your finances easily through mobile banking, the valuable benefits of savings accounts are numerous. To maximise these advantages and take your financial future in the right direction, consider opening an INDIE Savings Account today! This move can be your first step towards a life that is more financially secure and goal-oriented.

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.