Can you link multiple debit cards to one savings account?

Posted on Wednesday, March 22nd, 2023 | By IndusInd Bank

Saving money is an important part of financial planning, and having a savings account can be a great way to get started.

A savings account is designed for individuals to save money for future use. It is a great way for individuals to keep their money safe and earn interest on their account balance. In a savings account, you can deposit and withdraw money as and when required. Let’s look at why it is important to have a savings account:

Why have a savings account?

1. Emergencies can happen at any time:

One of the most important reasons to have a savings account is to have a safety net in case of emergencies. Unexpected expenses, such as car repairs, medical bills, or job loss, can come up at any time, and having a savings account can provide you with the funds you need to cover these expenses without going into debt.

2. Provides a way to meet your financial goals:

Whether you’re saving up for a down payment on a house, a new car, or a vacation, a savings account can help you reach your financial goals. By regularly depositing money into your savings account, you can steadily work towards your goal. With interest income on savings account, you also feel a sense of accomplishment as you watch your savings grow.

3. Helps you budget your money:

Having a savings account can also help you budget your money better. By setting aside a portion of your income into your savings account each month, you can create a budget for your expenses that allows you to live within your means while still saving money for the future.

4. Provides a source of passive income via interest:

Many savings accounts offer interest rates, which means that your money can earn more money over time. The attractive interest rate that IndusInd Bank offers on savings account makes them a great way to earn passive income without taking on a lot of risk.

5. Can help you build credit:

Having a savings account can also help you build credit, especially if you’re just starting out.

If you are looking for a reliable and hassle-free savings account, go for IndusInd Bank Online Savings Account which offers a range of features to help you manage your money easily and securely. With 100% digital account opening via Video KYC, instant online banking services, and competitive interest rates, our savings account is designed to meet your financial needs. Plus, enjoy a host of benefits, including free ATM withdrawals, cashback on transactions, and discounts on shopping and dining. Whether you’re saving for a rainy day or planning for the future, our savings account has got you covered.

Now that you know the importance of having a savings account, let’s take a look at what role do debit cards play in making our lives easy.

What is a debit card?

A debit card is a payment card that allows you to access funds from your bank account electronically. It works like an electronic check or an ATM card and is linked to your savings account. With a debit card, you can make purchases at merchants that accept card payments, withdraw cash from ATMs, and make online purchases. When you use your debit card to make a purchase, the funds are deducted from your linked bank account.

IndusInd Bank debit cards also offer additional features, such as rewards points on purchases, cashbacks, offers & discounts across top brands, purchase protection and lots more.

Is it possible to link multiple debit cards to one savings account?

It depends on the bank’s policy and the type of debit card you have. Some banks may allow you to link multiple savings accounts to your debit card, while others may only allow you to link one savings account. If your bank does allow multiple savings accounts to be linked to your debit card, you may be able to select which account is used for each transaction, depending on the type of transaction and the available balance in each account.

It’s important to check with your bank directly to see what their policy is on linking multiple savings accounts to your debit card, as this can vary depending on the bank and the type of account you have.

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and 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.