Benefits & Features Of Savings Bank Account

Increases Savings Habit and Acts as a Repository

Primarily,this account is a hub for savings. Individuals and institutions can safely park monies in this account and earn nominal interest on a periodic basis.

Access to Negotiable Instruments

The account holder gets access to negotiable instruments such as Cheques and Demand Drafts. These instruments can be used to make outward payments, sourcing funds from the account to pay recipients.

Convenience of Banking by Means of ATM/Debit Cards

Facility to make cash withdrawals and purchases anytime, anywhere by means of an ATM/Debit card. Plastic money linked to your savings account offers you the convenience of paying from your account without using actual currency notes.

Internet Banking & Mobile Apps

Technology based banking options such as Internet banking and Mobile Apps lets you manage and transact virtually, eliminating the need to visit actual branches of the bank. It saves times and money and ensures error free transactions.

Bill Payments by Electronic Clearing Services(ECS)

One can also set up Auto debits(Electronic Clearing Service) for system driven payment of utility and other bills. This facility helps reduce the burden where the service provider makes a debit from your savings account on the due date/set date towards payment of the bill.

For Direct Transfer of Govt. Benefits

Beneficiaries of govt. schemes such as PAHAL-Direct Benefits Transfer for LPG(DBTL) are required to link their savings account to receive monetary benefits directly into their bank account.

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan