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digibank: Now Open A 7% Savings Account In 90 Seconds

E-wallets and digital banking applications are the future. And the future is here!

Introducing digibank, India’s first digital only bank account, by DBS Bank Ltd. DBS is a multinational banking and financial services corporation headquartered in Singapore.

Right from offering a 7% interest rate on your Savings Account, the ability to register a new account in 90 seconds and multiple other benefits listed below, digibank is worth a look.

  • You can enable or disable your debit card from the app itself - anytime.
  • You can ask for a physical debit card for free.
  • You won’t need an OTP for every transaction, thanks to the application’s robust built-in security features. 
  • You can track your expenses which is great for anyone who wants to get started with their savings one step at a time. In fact, it lets you analyse purchasing patterns and even suggests ways to save by basis your behaviour and preferences.
  • You can experience unlimited free ATM withdrawals.
  • You can create and link goal-based recurring and fixed deposits directly with your DBS account.
  • The virtual AI assistant is quite helpful and saves a lot time when you have some queries.

The instant winning points of these downloadable banking account apps is the ability to immediately convert your e-wallet into a savings account. 

Opening the savings account is hassle-free as well as a paperless process. This is quite convenient as you do not have to spend time arranging your documents for submission. You only need to undergo biometric verification which can be done at home.

Besides, there are no hidden charges as well. You can open the account for free and you do not need to have any minimum account balance. Additionally, and quite appreciably, digibank offers you an interest rate of 7% on your savings account right from Re. 1 which is rare to come by.

Let us now have a look at how you can open your e-wallet and turn it into a savings account.

Digibankis available on the Google Playstore as well as the iOS Appstore, and is easy to download and install. A registration takes hardly about a minute and a half, and is quite simple.

Open the app and register yourself with the OPEN E-WALLET option. This leads to you having:
  • An e-wallet with a dedicated account number,
  • A virtual VISA Debit Card with which you can shop online.

Now tap on OPEN DIGISAVINGS on your homepage banner, enter your AADHAAR and PAN Card numbers, your personal details and select a Nominee. Once you’ve entered your details, you will get a reference number for Paperless Verification through a Biometric one.

After this, you will receive a call from DBS and an assistant will schedule a visit for the Biometric Verification. As soon as the verification is over, your savings account is created.

 The application in itself has multiple other features, such as:

1. Funding your account
You have three ways to fund your account:
i. With another bank account number and details,
ii. With a debit card, and
iii. Through Net Banking

2. Tracking your expenses - you can start setting your expenses and saving goals on this page.

3. Paying bills and payees - Besides making bill payments for utility services, mobiles and DTH, insurances and a variety of other bills, this page allows you to transfer funds to other payees in two ways.

a. Firstly, you can transfer money using your bank account where you need to enter the payee’s as well as your account details.

b. Secondly you can pay either using your and your payee’s mobile number; or if both of you have an DBS account - you can use your MMID transfer money.

These are just, some of the features that digibank offers. All in all, you can find that digibank really delivers as India’s first downloadable bank account. 

Technology has brought about a huge boom in the finance sector and consumers have been the biggest benefiters. Digibank has created a revolution in the tech-banking space and we hope consumers too will adopt the idea of creating a bank account on-the-go.

Disclaimer : This is a Sponsored Post.

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