Mobile apps are one of the top digital technologies used by banks. It has changed the whole banking ecosystem by offering a host of activities. These are available for iOS and Android phones to help all customers manage their money on the go. The ability to bank at any time is one of the main benefits of using an app. However, you must check the banking services offered for a comprehensive and smooth experience. Read on to learn more.
1. Savings Account
The best banking app in India allows the following free of cost:
- cheque reassurance
- debit card issuance
- money transfers to any bank
There are 28 savings account-related services altogether that you can enjoy without fees. If you are wondering, can I open a bank account online? Well, yes, that is also allowed on the app without hefty paperwork, signatures or physical visits.
2. Investment – Wealth Building
The app should offer one screen to view your investment portfolio. In-app suggestive features in the top mobile banking app provide personalised investment recommendations based on your risk profile. Invest in mutual funds (ELSS, debt, large-cap and multi-caps), ULIPs and online Sovereign Gold Bonds.
3. Investment – Life Goals
The app must let you invest in your life goals too. This includes retirement, wedding, education or a property purchase. You will receive curated recommendations to be able to secure your future without worries.
4. Personal Loan
The app should let customers borrow a personal loan between ₹20,000 to ₹40 lakhs for 6 months to 60 months. You can get pre-approved loans at flexible tenures and attractive rates. The app lets you pay the loan EMIs which saves time and bank visits. Do link your savings or current bank account to view balances and statements.
5. Insurances
The best app lets users buy health, bike and car insurance. This is snient since you do not have to visit an agent. Compare the benefits, features and claim processes of different products to pick the one that fits your needs.
6. Digital Payments
This is one of the top banking services online that the best app offers. You can make a 3-click digital payment of utility and credit card bills. Mobile recharge, DTH and buying and recharging of FasTAG using UPI are also allowed. Track, analyse and manage your expenses and use smart filters to see your transactions.
7. Personalised Offers
The app must offer personalized deals to be used across lifestyle, dining and travel to name a few. Tailored recommendations and offers are also available on loans. You have to download the app on your smartphone and log in with your ID and password or mobile number and MPIN to get started. The subsequent logins can be done with Face ID or biometrics.
IDFC FIRST Bank offers end-to-end security for your mobile banking app. A 2-factor authentication system makes sure no one can log in without a username and password. Make sure you do not share your details with anyone to avoid fraud.
