Is Debit Card important for managing your Savings Account?

Posted on Wednesday, February 15th, 2023 | By IndusInd Bank

As the world moves closer towards 100% digitization, the payment landscape is rapidly shifting to more and more cashless transactions. With today’s secure technology, the pros of cashless transactions heavily outweigh the cons. The biggest advantage of moving away from cash is the sheer level of convenience – for both – consumers and businesses/merchants. The need for customers to carry around notes and coins and the need for merchants to keep change on their stores is eliminated with cashless payments.

One of the most preferred ways of making these cashless payments is a debit card. A debit card eliminates the need for customers to wait in a bank or ATM queue to get their cash. With debit card payments, the funds go straight into the recipient’s account without delay. In today’s blog, we will try to explain what exactly a debit card is, and how can you apply for one if you don’t have it yet.

What is a debit card?

A debit card is a card linked to your bank account which allows you to withdraw money from an ATM or pay directly by swiping/tapping on a POS machine. You can also make online payments by entering your card details.

You may be wondering how is it different from a credit card? Yes, credit card also offers similar facilities. However, the key difference is that with a credit card, the bank lends you money which you can use, and later pay them back with interest on a monthly basis. With a debit card, you are spending the money which you already have. Since a debit card is linked to a bank account, your transactions cannot exceed the amount of money in your account.

Benefits of having a debit card with IndusInd Bank

Before we tell you how to get a debit card, let’s first take a look at all the benefits you can avail with IndusInd Bank debit cards. You can withdraw your cash at any ATM within the limit prescribed by RBI. IndusInd Bank Debit Cards are acceptable at a large number of merchant outlets across India. You can also use your debit card for online payments including utility bills, government entities, e-commerce websites etc. Apart from safe and secure features to protect your money, IndusInd Bank Debit Cards also exciting cashbacks, fuel surcharge waiver, reward points etc.

How to get a Debit Card with Savings Account

A savings account is the most trusted product in both – traditional and new age banking. It’s the safest way to earn interest on your money, while keeping it handy. When you open a Savings Account with IndusInd Bank, you automatically get a debit card linked to the account. To get the best-in-class debit card, attractive returns on your savings, account number of your choice & much more, open IndusInd Bank Savings Account now.

With IndusInd Bank, you can open a savings account, within minutes, without visiting any branch. The 100% digital account opening journey that you will experience with IndusInd Bank Savings Account opening will also eliminate the stressful paperwork process that you may face in traditional banking. You will still get to enjoy attractive interest rates, instant virtual debit card, WhatsApp banking, cashbacks and discounts on top brands, etc.

Open IndusInd Bank Online Savings Account in just 4 Steps with Video KYC

As a bank who puts its customers first, we are dedicated to making this digital journey seamless and secure. With IndusInd Bank, opening an online savings account is as easy as making a video call. All you need is a smartphone, a stable internet connection and just few minutes to open a savings account from anywhere.

Step 1: Pick an account number of your choice

Step 2: Enter your personal details

Step 3: Add funds to your account

Step 4: Complete Video KYC from anywhere, anytime!

Start earning interest on your account balance! IndusInd Bank Savings Account is a great way to earn high return on your funds while making sure it is accessible to at all times. With IndusInd Bank, you can grow your savings with attractive interest rates on your account balance. So, what are you waiting for? OPEN SAVINGS ACCOUNT NOW

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.