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Online banking app: Know how to make the best use of it


Mobile phone and app users are increasing day by day. Studies reveal that a person on an average uses more than 10 apps every day. And about 50 percent of people open an app more than 11 times in a day. Financial transactions can also be carried out today using a mobile bank app.

Most banks and financial institutions encourage their customers to use an app to help serve them better. A survey conducted in 2020 revealed that 68 percent of Indians make payments and transfer funds using the Internet or mobile application. It helps enhance user experience, while taking care of the security of highly sensitive customer information.

With the best mobile banking application like that of IDFC FIRST Bank mobile banking app, you enjoy several features. Some distinguishing ones are:

Online banking app

Link your bank accounts

With 3 or 4 bank accounts, you will find it difficult to manage money from one account to the other. You can use the IDFC FIRST Bank mobile banking app to integrate all your savings bank accounts with the same or other banks, and carry out transactions on a single platform. You can pay your credit card or utility bills, invest money in shares or mutual funds, do shopping and send money to another account through the app.

Open digital bank accounts

IDFC FIRST Bank offers different types of bank accounts like savings accounts and current accounts for individuals and businesses. As an individual, you can open a savings account instantly on its mobile banking app. If you are running a startup, you can open a current account on the app. For this, you need to fulfil the current account opening requirements like:

You should be a resident individual or you own a sole proprietorship, partnership, limited liability partnership or limited company

The proof of your existing business

The address proof of your business entity

A copy of the PAN Card of the proprietor or entity

IDFC FIRST Bank’s current banking app offers multiple features and benefits to help your business grow.

Transfer money and pay bills instantly

One of the significant reasons why a banking app is the most preferred tool of people is that it helps make payments anytime, even during non-banking hours. You don’t have to go to a bank or an ATM counter and withdraw cash to make the payment. Instead, you can use any of the digital payment options such as NEFT or BHIM UPI app and make bill payments easily.

With this multi-featured mobile bank app, you can set up recurring payments so that you won’t forget the payment date and incur a late payment charge. You can also see that your utility or credit card bills, insurance premiums, subscriptions and tax payments are made on time.

Avail an instant loan

You don’t know when you may need money to meet your urgent financial need. A banking app can help you apply for an instant unsecured loan up to Rs. 40 lakhs at competitive interest rates. The entire process is paperless that you have to just fill in the personal loan application form and upload the required documents online. You can have a customized loan based on your need with a suitable repayment schedule and interest rate.

Track your expenses

With the IDFC FIRST Bank mobile banking app, you can monitor your expenses. The app uses artificial intelligence (AI) technology for this purpose. The Income and Expense Analyser helps you compare the expenses with income every month and keep a check on spending.

If you have not started using the IDFC FIRST Bank mobile banking app, it’s time you download it now for a seamless banking experience.

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