7 MinsSept 7, 2021
We live in the digital era today, where banking has also extended largely into the digital domain. With the
need to stay indoors, banks are helping us take care of all our transactions from the comfort of our homes.
Going beyond simplistic digital
solutions, banks are looking at the next frontier of innovation. At the centre of this innovation is the
digital savings account of today, which can offer an array of features that your traditional savings account
lacks. Let’s have a
look at some of the experiences that a new age digital savings account can offer.
Opening a digital banking account
Far from being a cumbersome process, today, a digital
savings bank account can be opened from the comfort of your home.
With Axis Bank’s Full Power
Digital Savings account, you would also have access to the entire range of 250+ banking services
sitting in the comfort
of your home. As a truly new-age digital banking account, the Axis Full Power Digital Savings account is
completely paperless thanks to Aadhaar authentication and Video-KYC.
Let us see what the features of a new-age digital banking account are:
Free from branch visits
Over time, a lot of services that were available only at a bank branch, are also now available on internet
banking. But with a regular bank account, there could still be some services for which a branch visit is
required. However, with a new-age
digital banking account, you don’t need to visit a branch for any of your banking or account-related
requirements. From transactions such as opening a bank account to applying for a loan to urgent services
like blocking your misplaced
card - a digital banking account can take care of everything without requiring a branch visit.
Paperless Banking
Perhaps one of the most apparent differences between a digital and a traditional banking account is the
complete lack of paperwork. All your physical documents can be accessed digitally through the internet and
mobile banking facilities. Even
signature updates can be completed from home as long as you have a camera that can click a clear picture of
your signature on a white paper – something that is possible with most modern smartphones.
[Also Read: Know how
Video KYC works]
Get started in no time
Once your account is activated, you immediately have access to a wide range of services as mentioned earlier.
- On account activation, the Full Power Digital Savings account from Axis allows you to immediately start
transacting via your debit card, UPI, NEFT, IMPS and RTGS.
- One of the most helpful benefits is that you’ll immediately get a virtual debit card loaded with
offers. This also makes it easier to sign up for mobile banking using this card.
- In addition to that, this account also provides you with a physical debit card, which will get delivered
to your communication address within a few days of account activation.
- Both debit cards stay active and can be used simultaneously.
- Beyond this, thanks to the activation of mobile banking and internet banking with the virtual debit
card, you can also access a wide range of services like fund transfer, bill payments, investments, and
250+ other online services right away.
Use it anytime anywhere
No account can be truly digital if it restricts you to a location. A modern digital banking account should be
accessible wherever you are as long as you’re connected digitally. These accounts offer their entire
portfolio of services through
interfaces like mobile banking and internet banking which are accessible round the clock with no geographic
restrictions. Fund transfer and payment methods like UPI are also accessible through apps like Axis Pay UPI.
Along with that, features
like fund transfer, balance enquiry, investments, applications, and even account management like updating
your official signature – all of them can be done at any time of the day from any internet-enabled
device.
Get rewarded for banking
Any good banking account should offer more than just banking services, such as transaction benefits and
reward points. Not only do digital banking accounts offer such benefits, but they also make it easily
accessible to you. For example, the Full
Power Digital Savings Account offers a complimentary Times Prime membership after completing just three
transactions on any of the two cards. You also get a buy-one-get-one offer on BookMyShow and even a standard
1% cashback on monthly online
spends, and more. The Online Rewards debit card offers reward points that can also be easily tracked through
digital banking, keeping you aware of the benefits you can avail at all times.
The new-age digital banking account has made life
easier for you, in many ways. It has really and truly brought the bank into your home. You can now access
your bank anytime, through any
channel.
What's more, now might be the best time to open your Savings
Account! In addition to a
host of existing benefits, Axis Bank is offering a flat 10-15%* cashback on Amazon.in and Flipkart
shopping to every new ASAP Digital Savings Accounts opened between the 6th of September and 6th of December
2021. So don't delay any further, find out more about savings account interest rates and start the journey to maximizing your
savings today! Click here to know more.
Disclaimer: This article has been authored by Siddharth Parwatay, a Mumbai based
independent tech-journalist, editor, and content-creator. Axis Bank doesn't influence the views of the
author in any way. Axis Bank and/or the author shall not be responsible for any direct / indirect loss
or liability incurred by the reader for taking any financial decisions based on the contents and
information. Please consult your financial advisor before making any financial decision.
