Savings accounts are unquestionably an essential sort of bank account since they allow clients to deposit money and earn interest on it. Deposits made by customers are extremely liquid since they can be withdrawn at any time and from any location. This kind of bank account is the ideal choice for saving for the large majority of individuals globally because of its many benefits.
However, a person with a savings account has access to a variety of financial services in addition to the advantages that the interest rate offers and the high liquidity.
Some of the advantages have been briefly covered here in order to give you a better understanding of the services you could be skipping in case you are unaware of them.
The types of savings accounts that are offered and the financial organizations that provide them, however, might have an effect on the banking facilities.Â
1. Ease of paying bills
Are you aware that in addition to utilizing the bank’s mobile application for HDFC Bank Balance Check Number, you can also use it to pay direct invoices? Customers can now use their savings accounts to pay for expenses at the majority of banks. With the money in the account holder’s savings account, all utility bills, including those for water, electricity, gas, and mobile phone recharge, can now be paid.
2. Mini statement
Customers can see their HDFC Mini Statement if they have a question about their bank accounts.
Savings account customers have access to the most recent transactions at any time through a mini statement option that all banks provide. The free service is offered by banks. Account holders only need to make a missed call from their registered mobile number to the mini statement toll-free number in order to receive HDFC Mini Statement. Shortly after their phone receives an SMS with information regarding the last five transactions, the call will cease.Â
3. ATM availability
Both the availability of an ATM and the option to use a HDFC Bank Balance Check Number
are well-liked features. You can use the ATM if you have a savings account with a bank. The majority of banks have authorized ATM branch sites scattered around the nation. If your bank doesn’t have any nearby ATMs but you urgently need cash, you can still use an ATM from another bank. Only your debit card needs to be on hand. It’s crucial to be aware that the bank may charge you for using an ATM that belongs to another bank after a specific amount of withdrawals.
4. Utilizing online banking
Customers can effortlessly perform online transactions from any location at any time with a savings account at any bank. With the help of a net banking service, you may send money, pay bills, receive money, buy products, select insurance and other investment alternatives, and get a checkbook. Customers of various institutions, including Indian Bank, Punjab National Bank, and SBI, have access to mini-statements via net banking. The account holder must enter their username and password into the online banking system in order to access their mini statement.Â
By selecting the HDFC Mini Statement option under the account details section after logging in, customers can check the latest five account transactions in detail through HDFC Bank Balance Check Number. The best benefit is that account users don’t need to physically visit a bank because they can get all services online. Similar to this, bank customers can read their HDFC Mini Statement from home by using a website or mobile app.
5. Mobile banking services
The owner of a savings account can use their phone to access a number of financial services by downloading the bank’s mobile app. Through the bank’s mobile banking app, they can send and receive payments. If you have any questions regarding bank accounts, it also provides a way to contact bank executives. Account holders don’t need to go to the bank because they can get all financial services while relaxing in their homes.
Because all banks have SMS alert options, savings account holders can always check their balance (and determine if it has been deducted or credited) by using the HDFC Bank Balance Check Number. Each time a transaction using your debit or credit card is conducted, you will now receive an SMS on your registered cellphone number. A mobile application can be used to perform a wide range of tasks, including reading information about your savings account, ordering checkbooks, checking your account balance, updating your email address, and examining fast statements. However, companies like Indian Bank also offer a free mini statement service to their customers. Simply use your registered mobile phone to place a missed call to the HDFC Mini Statement. After three or four rings, the conversation would automatically stop, and your phone would then receive a text message containing details on your most recent three transactions.
6. Added advantages
Savings account holders can also use the HDFC Mini Statement feature and occasionally get deals on a variety of things. You will automatically qualify for additional perks and bonuses if you choose to create a new savings account with the company after already having one with them. For instance, if a customer already has a savings account with the bank, the bank might approve their request for a Demat account and waive the first year’s maintenance charge.
A savings account normally has no clear age restriction for the account user, unlike other financial vehicles. In other words, it offers something for everyone. Everyone who satisfies the bank’s requirements, including children over the age of ten and senior citizens over the age of seventy, is eligible to create a savings account and choose to use a HDFC Bank Balance Check Number. You may maximize your savings by taking advantage of the discounts and incentives offered by banks through their programs. Because of the aforementioned attributes, banking is straightforward.
Final words
Last but not the least, remember that while loans and credit cards are something we focus more on as customers, bank accounts are much simpler though less focused upon. That is why we end up being unaware of many of their facilities. So ensure to be aware of them all so that you can utilize them and make your banking experience simpler and convenient.