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Finance

Top benefits of banking on mobile

Mobile banking is synonymous with convenience because you can seamlessly access banking solutions on your smartphone. Most leading financial institutions now offer net banking apps to perform tasks that you would have to otherwise do by visiting the bank physically. If you are yet to discover the world of mobile banking, check out the different benefits it offers to customers.

1.  24×7 access

In India, banks are usually open from 9 am to 4 pm. Some financial institutions might even be open till six in the evening. But if you need a banking solution in the middle of the night, you won’t find any bank open at such odd hours.

Thankfully, the advent of digital banking apps puts an end to this trouble. A mobile banking app will enable you to avail different banking services 24×7. Therefore, you will be able to transfer funds, view account statements, and more whenever you want, as per your requirements.

2.  Check account history

A mobile banking app is the best place to check your account balance from your home. Nowadays, updating your passbook or visiting the ATM are not the only ways to check your bank balance. Along with your balance, you will also get details about all your transactions.

The digital bank statements will also serve as income proof while applying for a loan or credit card. You will also get access to your fixed deposit details, credit card transactions, and more on your smartphone.

3.  Perform different actions

A mobile banking app is ideal for performing a wide range of functions. Whether it’s transferring funds or paying bills, you will be able to do it all on the app. Therefore, it will ensure you don’t have to visit the bank physically and wait in a long queue for it. You simply have to log into the mobile app using your username and MPIN to start performing the function you want.

4.  Invest your surplus funds

Savings accounts offer the advantage of storing your hard-earned money securely. But what’s the point of keeping your funds idle in a savings account? Even though savings accounts offer interest, it’s typically pretty minimal. Therefore, it’s better to invest your surplus funds for some extra earnings.

Thankfully, a mobile banking app makes the investment process simple and straightforward. For instance, you can create a fixed deposit account with your surplus funds. You can also invest in mutual funds using your mobile banking app.

Investing as low as Rs 500 in mutual funds through systematic investment plans is possible through mobile banking apps. Furthermore, you can also easily keep track of all your investments and returns and make necessary changes to your portfolio through the bank app.

Ending note

IDFC FIRST Bank’s net banking app is your one-stop solution for all financial needs. From tracking your expenses to opening fixed deposit accounts, you can do it all using the app. Moreover, the app is extremely safe, with top-notch security features. Both iOS and Android users can download the banking app and get all financial solutions at their fingertips.

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