Banking in India is moving towards complete digitalization at a steady pace. A survey conducted by Google recently shows that about 22 percent of people in India have online bank accounts, and the number is increasing every year. It is estimated that there would be around 400 million Indians holding a digital banking app. With digital banking, a bank like IDFC FIRST Bank will be able to meet its customers’ needs and expectations. For that, what features should the IDFC FIRST Bank Mobile Banking app offer that the users cannot afford to ignore.
Open a digital bank account
Most digital banking apps offer their users the convenience of opening an instant savings account online. For the purpose, you need to provide your name, mobile number and email address to go to the next step of entering your Aadhaar Card and PAN Card details, which will take you to the next step of filling in an application form with your personal details, including your occupational status, annual income, and any other related details.
Once you have provided the required details and supporting documents online, the bank takes a few hours to open an account. It takes a few minutes to apply for a bank account and enjoy the benefits like:
- Competitive interest
- Payments made through IMPS, NEFT and RTGS are free
- Rewards and cashbacks for transactions made through this account
- Lost card liability and accidental insurance coverage
Pay credit card bills
The online mobile banking app from IDFC FIRST Bank offers easy access to all banking services, and what’s more, this online transformation has enabled most banks issue debit cards and credit cards based on eligibility. This credit card app has further popularized the use of the android banking apps. You can pay credit card bills of other banks through the app without any difficulties. Through this app you can check balance, make bill payments, and redeem rewards. You can also make three click payment method to pay credit cards.
Check account balances
Using the IDFC FIRST Bank Mobile Banking app, it has become a lot easier for the customers to check account balance quickly online by checking bank online statement. The app helps the customers to streamline their expenses. You can view all your account balances by linking your account of different bank in one single platform.
Maintaining investment portfolios
With a savings bank online account, you can invest excess money in mutual funds or sovereign gold bond. When you invest in mutual funds, you have experienced fund managers taking care of your money. Moreover, the app also lets you open a 3-in-1 account, which helps you trade in shares and commodities, and maximise returns. Using this account, you can buy sovereign gold bonds, invest in equity funds such as the large-cap, mid-cap, low-cap, arbitrage, multi-cap, and hybrid funds through systematic investment plans (SIP).
The above features make the IDFC FIRST Bank Mobile Banking app unique among the customers.