Nowadays, banks are adopting new methods of reaching customers and offering their products. They are now using online channels to access banking products conveniently anytime, anywhere. One of the essential services offered by banks is Savings Accounts with zero-balance service. Customers can open an account without worrying about maintaining a minimum account balance.

Having an online account is a necessity today, with the promotion of Online Banking services. You can online Saving Account opening zero balance as it is easier to make transactions without physical visits. The account does not have average monthly balance criteria, making it a highly preferred account. Most of the Savings Accounts come with a minimum average balance requirement.

Not maintaining the minimum balance brings about penalty charges. However, an online zero-balance account does not have any such criteria, and thus, the account holder can flexibly access the deposits without fearing any penalty charges. Here are the features and benefits the account offers to customers:

Swift transactions

Earlier, banking was a hectic task. Thanks to online accounts, it has become effortless to access banking services. Tap to access all your account details and sign in to Online Banking to access complete banking services. This feature cuts down the dependency on physical banking, especially when it comes to cash withdrawal or fund transfer facilities.

Better interest rates

Though the market offers so many options, nothing can beat the interest rates offered by basic accounts. The account balance earns high-interest rates while keeping the deposits free of market risk. Usually, the rates range from 4% to 7%, which offer decent returns with no lock-in period.

Auto-debit facilities

Every bill payment is not stressful and worrisome as you can now track the due dates through the Banking app. You can set the auto-debit facility for bill payments, ensuring you have a sufficient account balance. The bank automatically debits the amount from your account on the due date. It makes bill payments easier and more convenient.

Exciting discounts

Besides making the account opening process easier with minimal documents required for Savings Account, you can also access exciting privileges. Register on the banking portal to grab customised shopping coupons and vouchers. Banks also offer attractive interest rates to their customers, which they earn every month. You also benefit from flexible eligibility criteria in place.