Classification of savings accounts:
Due to the capital protection features of the savings accounts, it offers attractive interest rates on your every deposit. Online saving accounts allow you to deposit funds, withdraw money, pay credit card bills and pay EMIs. It gives you more convenience than you expect.
If you are also planning on opening a savings account, Axis bank is the best for you. They offer you different types of savings accounts that are suited to your requirements. Whether you are a housewife, student, senior citizen, self-earned person, employee, or businessman, you must have a savings account.
In today’s guide, we give you information on the types of saving accounts along with their benefits. By comparing the features and benefits of the different types of saving accounts, you can easily choose the best savings account for yourself.
Types of saving accounts:
In this section, we would like to tell you about the type of savings account. You must read all the information on the various savings account types to get the best type for you.
- Digital savings account
Major banks allow you to open a savings account immediately with the help of the video KYC. The digital savings account is known as the zero-balance savings account. It is time-saving, effortless and a fast type of savings account. Individuals above 18 years of age are eligible to apply for a digital savings account with the help of video KYC.
- Salary account
This account is mainly for those who work as employees on the salary. Here, you can open an online salary account instantly. In addition, the salary account offers a host of benefits.
- No limit on the savings account
- More than 100 offers and discounts come with the salary account
- Benefits of paperless banking without the use of the paper slip
- Senior citizen saving account
The senior citizen saving account is used by Indian citizens who are more than 60 years old. This savings account is also convenient, hassle-free and easily accessible. The host of benefits from the senior citizen savings account are as follows.
- Access to the high-interest rate.
- 50% discount on the bank lockers to keep your money, gold and other valuable items safe.
- Access to the extended banking hours.
- NRI Account
NRIs have an option to choose two different types of saving accounts, i.e. an NRE saving account, or the NRO saving account. Benefits include:
- Cash facility.
- High interest rate on savings account
- Monthly interest pay-outs
Conclusion
This article shares information on the type of savings account along with their benefits. It is suggested that you first read all the information on all types of savings account before making any decision.