Business

SBI Vs India Post Payments Bank Vs Axis Bank

Zero Balance Digital Accounts: If you want to open a new bank account within minutes, you may consider opening instant digital accounts with banks.

If you are opening a new bank account within minutes, you may consider opening instant digital accounts with leading banks.

Many banks, these days, offer the facility of instant digital accounts. Usually, these digital accounts do not have any minimum balance requirements.

So customers are free to maintain a zero balance in these instant digital accounts. Some of these accounts also offer higher interest rates than usual savings accounts.

SBI or State Bank of India offers two savings accounts that can be opened via its app, the YONO app: digital savings account and instant savings account.

Axis Bank offers the facility of opening an Axis ASAP zero balance savings account. India Post Payments Bank or IPPB, which recently started its operations, also offers a digital savings account.

Given below is a comparison of zero balance digital savings accounts offered by SBI, India Post Payments Bank and Axis Bank:

SBI zero balance savings accounts

SBI’s digital savings account and instant savings account both offer the facility of zero balance till March 31, 2019, according to the website of the YONO app.

* SBI digital savings account

This SBI account can be opened in a paperless manner. Customers, however, are required to visit the SBI branch once.

This SBI account offers a personalised debit card.

SBI insta savings account

This SBI account can not only be opened in a paperless manner but also does not require customers to visit the SBI branch. A KYC or know-your-customer compliance is undertaken via an OTP or one-time password. KYC helps banks verify their customers.

This SBI account offers a free Rupay debit card, according to sbiyono.sbi.

Interest rate on both these instant digital savings account is the same as that on regular SBI savings account. On saving deposits balance up to Rs. 1 crore, SBI pays 3.5 per cent per annum. On saving deposits balance above Rs. 1 crore, SBI pays interest rate of 4 per cent per annum.

* India Post Payments Bank or IPPB digital savings account

IPPB’s digital savings account can be downloaded through the IPPB mobile app, said the lender. Anyone above the age of 18 years, having Aadhaar and PAN or permanent account number card, can open this account, said ippbonline.com. The account can be opened instantly from the comfort of your home, which means that you do not require visiting the branch.

No monthly average balance is required to be maintained in India Post Payments Bank digital savings account. The account can be opened with zero balance.

Customers get a free quarterly account statement, can do instant fund transfers through IMPS and initiate bill payments and recharges via this digital savings account of IPPB.

IPPB digital savings account offers an interest rate of 4 per cent per annum on a quarterly basis.

* Axis Bank Axis ASAP zero balance savings account

Axis Bank’s Axis ASAP zero balance savings account offers virtual or physical debit card. You are not required to visit the branch. Axis Bank does not require you to maintain any minimum balance in this account.

The interest rate offered by Axis Bank on Axis ASAP account is up to 7.25 per cent, much higher than SBI and IPPB.

Summary
Review Date
Reviewed Item
SBI Vs India Post Payments Bank Vs Axis Bank
Author Rating
51star1star1star1star1star
DPR ADVT
Opinion Poll
With assembly election ahead With assembly election ahead, well known Digital Media platform clipper28.com has decided to gauge the mood of Chhattisgarh through its own opinion poll. As an aware voter and stakeholder of the democratic process, kindly do answer the following questions so that prevailing mood of state can be ascertained.
Name
Age
Assembly Segment
Phone Number
Which party will emerge as the single largest party?
Which party will have more seats?
Whom would you like to see as next Chhattisgarh Chief Minister?
Have you witnessed development work in your area?
Do you think that farmers of Chhattisgarh are satisfied with BJP government?
Do you think youngsters are happy with employment scenario created by Chhattisgarh/state government?
Do you think state government has done enough on issue of women empowerment?
Are you satisfied with work done by your legislator? Have electoral promises been fulfilled or not?
Are you satisfied with the amenities provided by the government in your area?
Do you think the state government has successfully tackled naxal menace?
Are you satisfied with work done by different state Ministers?

Please do vote...

ओपिनियन पोल
छत्तीसगढ़ की आगामी विधानसभा चुनाव के लिए डिजिटल मीडिया ‘clipper28.com’ नेसटीक ओपिनियन पोल करनेका निश्चय किया है. अतः आप नीचे दिए सवालों के निष्पक्ष जवाब देंताकि राज्य की आने वाले दिनों की सही सियासी तस्वीर सामनेआ सके. कृपया अपना मत जरूर दें- With assembly election ahead
नाम
विधानसभा क्षेत्र
आयु
फ़ोन नं
विधानसभा चुनाव में सबसे बड़ी पार्टी कौन सी होगी ?
किस पार्टी को ज्यादा सीटें मिलेगी?
अगले मुख्यमंत्री के रूप में किसे देखना चाहेंगे?
क्या आपके क्षेत्र में विकास दिखाई पड़ रहा है?
क्या छत्तीसगढ़ का किसान भाजपा शासन से संतुष्ट है?
जो रोजगार छत्तीसगढ़ सरकार ने दिया, क्या उससे युवा वर्ग संतुष्ट है?
राज्य सरकार ने महिलाओं के सशक्तिकरण के लिए जो किया, उससे महिलाएं संतुष्ट हैं?
क्या आप अपने विधायक से संतुष्ट हैं? उन्होंने अपने वादे पूरे किए या अधूरे हैं उनके काम?
क्या आप अपने क्षेत्र की सरकारी सुविधाओं सेसंतुष्ट हैं?
क्या नक्सली समस्या पर नियंत्रण हुआ है?
क्या प्रदेश के मंत्रियों के कामकाज से संतुष्ट हैं?
-देश हित के लिए मतदान अवश्य करें-
Tags