These 7 big benefits are available on Saving Bank Account, if you know then you will be in profit

Photo:PIXABAY Saving Account

Saving Bank Account In today’s time most of the people have. Most of the people use it in today’s time. Savings bank account users have increased rapidly from small towns to metro cities. By having a savings account, you can withdraw money from the bank whenever you want. A savings account is like an emergency fund, which you can use when needed. However, apart from this, a savings bank account gives you many benefits. Let us know how a savings account is very important and everyone should have it. Also, its benefits are also known.

seven key benefits

  1. Savings bank account helps to keep your savings money safe.
  2. You get interest on the amount of savings in your savings account.
  3. Banks offer interest ranging from 3% to 6.50% per annum on savings accounts.
  4. On a savings account, you can use an ATM anywhere in the country with a debit card from the bank.
  5. Internet banking and mobile banking facility is available on the savings account.
  6. Banks provide locker rental facility on savings account.
  7. Some banks also provide personal accident and death cover on the savings account.

Get these benefits too

At present, you are able to pay many types of utility bills like electricity, water and phone bills or recharge directly through the savings account on a monthly basis from the savings account. Along with this, the complete record of income and expenses in the bank statement is seen from the savings account. This makes it easier to file income tax returns. Banks like SBI, HDFC, ICICI, Axis and IDFC First offer airport lounge access free of cost to their premium savings account holders. All banks provide the facility of passbook and check on their savings account. Not only this, the ATM card found on the savings account also works many times to make big savings in online and offline purchases.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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