To most people, early retirement still sounds like a dream; it's too good a concept to be true. But can you blame them?
Now, while it's true that early retirement doesn't come easy, it's still achievable. You don't need to be financially savvy to make profitable investment decisions, especially those concerning your retirement. When it comes to savings, the formula is to simply save enough in your early years so you can live comfortably later. Yes, the key to retiring early – is to save early, and savings accounts are the ideal risk-free instruments that can make it happen. Let's explore how.
How a Savings Account Can Help You Save for Retirement
A savings account is a financial instrument that allows you to deposit money in a financial institution. You get complete access to savings, so you can make a deposit or withdrawal whenever you want.
Because you earn modest yet assured returns on your deposits, it also helps you build a well-compounded corpus, especially over a longer run. It's even better if you begin saving early in your career, preferably as soon as you're working your first job. This will help you collect considerable returns throughout your active years.
Also, since you need to maintain a minimum balance with your savings account, it helps keep your spending in check and encourages you to become financially wiser. So, saving will become second nature to you.
Why Choose IndusInd Savings Account
With interest rates starting at 5.5%, Indus savings accounts let you collect modest returns on deposits and build a sizable corpus over the years. But, other than attractive returns, you also get access to a world of rewards and privileges.
A key thing to note here is that all the primary advantages will depend on your chosen account variant. But no matter what your choice is, a tailor made IndusInd savings account will let you enjoy a suite of benefits, as mentioned below.
- IndusInd Bank's new-age services go above and beyond industry standards, offering a plethora of digital banking aids, from IndusNet for seamless online banking to IndusSmart for your investment goals. The bank's OmniPresent facility lets you book deposits, pay bills, and transfer funds hassle-free via mobile, Facebook, WhatsApp, and more.
- Take advantage of a suite of privileges, discounts, cashbacks, and exclusive offers on a variety of purchases. Now, these offers may seem like no big deals on the surface, but when you add the total savings, it truly makes the difference. For instance, if you order out frequently, you can save a decent amount by using the Swiggy annual discounts on the Indus Select savings account.
- With the IndusMobile app, you can get all your banking done using just your smartphone. Need to pay your utility bill, transfer money, order food, or book a cab? It's an All in One Store for all your digital banking needs and one that truly allows you to go cashless.
Steps to Open Your IndusInd Savings Account
To keep you from the hassle of physical banking, IndusInd Bank lets you open a savings account online in four simple steps and only a couple of minutes. Just select the type of account you want to open and apply on the bank's online portal.
1. First, you'll need to verify your Aadhar and PAN.
2. Second, complete the application form by entering the correct details.
3. Then, a representative from the bank will verify your details over a video call to complete your KYC.
4. At last, you'll need to deposit funds in your account to activate it.
As you can see, the application process for opening a savings account doesn't get simpler than this. It's fast, convenient, and offers top-of-the-line benefits you can't find anywhere else. With an Indus savings account, you can save for your early retirement stress-free.
Disclaimer: No Deccan Chronicle journalist was involved in creating this content. The group takes no responsibility for this content....