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Modern technology has a major impact on every industrial sector, including the financial sector. The use of mobile banking apps has revolutionized the banking sector in that it helps you carry out financial transactions safely, quickly, and efficiently from anywhere.
The android banking app enables you to open a bank account to save your money. Moreover, it offers you numerous tools to help you manage your money and maximize savings.
Your digital savings account is not just a repository for your cash; instead, it can help grow your savings by using the built-in tools effectively. You don’t have to visit a bank to find information on deposit schemes and gain advice on investments.
The innovative tools powered by artificial intelligence (AI) help you decide on savings easily. IDFC FIRST Bank offers you a unique banking app to give easy access to all its banking services and maximize your savings. Here’s how it helps you:
- Link and access all your savings bank accounts from one place
The IDFC FIRST Bank mobile banking app is the best platform to link your various savings bank accounts with different banks or the same bank to track the balances. It also helps you generate statements of your bank accounts and manage money by transferring it from one account to another instantly.
Further, you can also apply for a bank account online and enjoy several benefits. Having more than one savings account will help you save any extra money you hold without spending it unnecessarily.
- Track your expenses
The digital banking app from IDFC FIRST Bank has smart tools to track your financial transactions, categorize them based on expenses, generate a report, and manage expenses. You will know where you are overspending, which will help you to reduce it and save more. The app categorizes the expenses automatically and suggests any investment plans to save more by reducing certain expenses.
- Analyze your income and expenditure
One of the best features of the IDFC FIRST Bank mobile app is it enables you to budget carefully by using the income and expenditure analyzer. It encourages you to save any unused money in your savings account by helping you spend wisely depending on your income. With the bank account balance check app, you will know the balances in your various savings accounts, which you can use to buy equity or mutual funds to earn more.
- Suggest the best investment options
The IDFC FIRST Bank mobile app offers easy access to the investment app, which helps you to invest your extra money in mutual funds, sovereign gold bonds app, unit-linked insurance plans, fixed and recurring deposit schemes, and initial public offerings. For investments in mutual funds, there is no requirement for any documents. You can choose from the mutual fund schemes based on your investment goal, requirement, and risk appetite.
- Paying bills on time
If you are not careful about your payments, you may lose money by paying late-payment charges. This will reduce your savings in the long run. A banking app can help you by setting up a reminder to pay your credit card or utility bills on time, without a late fee, which can make a good saving later.
The account balance check app from IDFC FIRST Bank helps you monitor your account balances and use excess money in the account to invest and grow savings successfully.
