How to Monitor and Manage Your Savings Account Through Mobile Banking Apps

...

Managing your finances has become easier than ever, thanks to digitisation. You can now track, transact and monitor your bank accounts anytime, anywhere with mobile banking apps. Not only do they offer convenience, but they also provide robust security features to keep your information safe. In this blog, we will explain how you can manage your savings account more efficiently via banking apps.

Advantages of mobile banking apps for your savings account

Here are the top reasons why mobile banking apps can be a game-changer for managing your savings account:

Convenience:
Gone are the days when you had to visit the bank branch or ATM to check your savings account balance. With mobile banking, you can access all such details at your fingertips. Whether you want to check your balance or view recent transactions, you can do so comfortably from anywhere.
Real-time alerts:
For every transaction made via your account, you will receive a notification from your banking app. This way, no activity goes unnoticed, and you can quickly detect any unauthorised activities.
Security:
Mobile banking apps use biometric login and encryption. So, you can keep your personal information safe and secure.
Ease of transactions:
Say goodbye to standing in long queues to pay your electricity bills. Tap the pay option on the banking app and make a payment seamlessly. It saves both time and effort. You can also make scheduled payments to avoid late fees.
Budgeting tools:
There are various banking apps that allow you to monitor and categorise your expenses. You can take advantage of those and stay on top of your budget.
Interest tracking:
You can monitor the interest earned on your savings. With this information, you optimise your savings strategy and make investment decisions accordingly.
Paperless statements:
You can access digital statements, reducing paper clutter and making it easier to find transaction records.

How to use your mobile banking app?

Using mobile banking applications is simple. Here is a step-by-step guide to utilise them:

Step 1: Download your bank’s mobile app using the App Store (iOS users) and Play Store (android users).

Step 2: Then, open the app and log in with your credentials. If you are a new user, you will have to register first.

Step 3: Create a secure login process by adding your biometrics like fingerprints or facial recognition.

Step 4: Once logged in, you can check your account balance, view transaction history, transfer funds between accounts, and pay bills.

Step 5: Lastly, you can set up alerts for specific transactions or low balances to stay informed.

About Kotak811 App

The Kotak811 App offers you a seamless mobile banking experience. You can manage your finances on the go. That’s not all, you can even open a zero-balance digital savings account. All you need is your Aadhaar and PAN card.

Use our secure and convenient platform to handle all your banking needs directly from your smartphone. With Kotak811, you can check your balance, view transaction history, transfer funds via NEFT, IMPS, or RTapGS, and pay bills with a few taps.

Once you have opened an account with us, you can also access an instant virtual debit card for online shopping, further easing your transactions. Furthermore, you can even set up instructions for recurring payments, automating your finances. The app is super convenient and easy to navigate, so even new users can use it effortlessly.

Final note

Now that you know how to manage your finances swiftly, ensure you make the most of it. Use mobile banking apps to determine how you can grow your savings, cut unnecessary expenses and identify investment opportunities. Stay informed about the financial activities of your Kotak811 Savings Account by downloading the mobile app today.

Popular Searches on Kotak811

This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empanelled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees, and contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.