A savings account is a deposit account held at a retail bank and bank pays interest on deposit amount. The saving account holder is allowed to withdraw money from the account as and when required. At present, the rate of interest ranges between 3.5% to 6% per annum in India. The interest rates vary as per the amount of money deposited and time period money remain in the saving bank account
Benefit of Saving Account
- It is beneficial to keep your unneeded funds in a savings account
- You can earn income by the way of saving bank interest
- You can easily access your money deposited in your savings account in case of an emergency
- You can pay your light bill, gas bill, insurance premium and other retail payment from your saving account bank balance by Cheque, Internet Banking or UPI
Facility Provides with Saving Account
- ATM Card
- Cheque Book
- Internet Banking
- UPI
- Personal Accidental death cover
- Mobile Banking
- SMS alert
- Statement on E-Mail