Fincare 101 Saving Account Online
Fincare Small Finance Bank offers has launched a new form of saving account it’s called 101-First Savings account, It is zero balance savings account.
The account can even be online in less than 5 minutes, and no need to provide any initial deposits as well.
How to open Fincare Zero Balance Account
As mentioned above you can open Fincare 101 Saving Account in less than 5 minutes, let understand the steps how to open a zero balance account online:
Step 1: Firstly, Visit the Fincare 101 official site given below:
Step 2: Secondly Register with your Mobile Number and Verify with a valid OTP
Step 3: Then Register with Aadhar Card, it will validate and collect the basic details like name, age, Date of Birth, and address.
Step4: Provide the current address, in case if you have a different address proof in your Aadhar card
Step 5: Similarly upload your selfie and your signature.
Step 6: Finally step is to provide the Nominee Detail in case of emergency, once you are done with filling in all your details you are good to go, your account will be activated in just 2 minutes and you can start using it.
Benefits of Fincare 101 Saving Account:
- Zero Balance :
Firstly, the Fincare 101 Saving Account provides the best service of zero balance account, which means there is no need to maintain minimum basis, which is one of the most significant use, there are very few banks that are providing that benefits.
- Attractive Interest Rate:
Fincare is providing up to a 7% rate of interest to its saving account holder, it is one of the highest interest rate providers in the market, but there are certain criteria that need to fulfill.
like to get a 7% rate of interest the customer needs to maintain a minimum of 5 lakh, if the minimum balance falls below 5 lakh the interest provided will be 5% which is still considerably higher than most of the banks providing in the market.
- Free Debit Card:
The Bank is also providing a free debit card to its account holder at the time of opening an account in their bank, it doesn’t charge any maintains chargers for the 1st year of opening an account.
- Mobile Banking:
Meanwhile, the Fincare small Finance Bank has an application of its own where is all their customer can log in and have the benefits of using all the online transaction facility for free of cost, there is no additional cost included, which provides the customer additional benefit, he /she no need to use any of the additional payment apps to use UPI or any of the online fund transfer applications.
- Fixed Deposit:
The Bank is providing higher interest rate on fixed deposit compared to various other banks,
the bank is providing with the range of a minimum of 6.5% to a maximum of 9% rate on the interest which is a higher interest rate than any saving bank account.
Interest Rate Slab of Fincare Small Finance Bank:
|Savings Account||Rate of Interest|
|Up to and including Rs.1 lakh||5%|
|Above Rs. 1 lakh and up to Rs.5 lakh||6.25%|
|Above Rs.5 lakh and up to Rs.1 cr||7.00%|
|Above Rs.1 cr and up to Rs.5 cr||6.50%|
|Above Rs.5 cr and up to Rs.15 cr||6.25%|
|Above Rs.15 cr and up to Rs.20 cr||6.00%|
|Above Rs.20 cr and up to Rs.30 cr||3.50%|
|Above Rs.30 cr and up to Rs.50 cr||3.50%|
|Above Rs.50 cr||3.50%|
Charges Levied by Fincare 101 Saving Account:
Although the Fincare 101 Saving Account is a zero balance account it doesn’t apply any charges on minimum maintains but there are certain charges that levid to all the customer, those charges are mentioned below:
- Debit Card Annual services charges of Rs.30 and rs.200 in case of replacement of a Debit card.
- There is 5 free ATM transaction in a Metro city and Additional 3 ATM Transaction
in case you are from Urban Area.
- However, after free transactions, 25 Rs is charged for every ATM withdrawal,
and 10 RS on Non-Financial transactions.
- Besides a cheque Book of 25 leaves is charged around 50 Rs.
- However, if you withdraw cash from the Bank you will be charged around 4 Rs on every 1000Rs of transactions.
In Summary, to the topic “Fincare 101 Saving Account online” We have moreover focused on every important aspect of Fincare 101 Saving Account not only the important but also the charges levied by the bank towards the customers/account holder of the bank.
However, in other words, it can be said that it is one of the suitable accounts for students and low-income group categories but be cautious about all the charges and use the mobile app as much as possible to avoid unnecessary charges levied by the bank.
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