How Can I Open Two Savings Accounts in the Same Bank?

Posted on Tuesday, May 30th, 2023 | By IndusInd Bank

Savings accounts play a crucial role in personal finance management, providing a safe and convenient way to save money, earn interest, and achieve financial goals. While a single savings account can meet your basic savings needs, there are circumstances where opening multiple savings accounts in the same bank can be beneficial. In this blog, we will explore the importance of savings accounts, discuss the advantages of having multiple accounts, and guide you through the process of opening two savings accounts in a bank. We will also highlight IndusInd Bank Savings Account as an ideal choice for individuals seeking to increase their savings and earn risk-free returns. 

Importance of Savings Accounts: 

Savings accounts serve as a reliable repository for your funds, offering a host of advantages, including: 

1. Safe Storage: Savings accounts provide a secure place to store your money, protecting it from theft or loss. 

2. Interest Earnings: IndusInd Bank offers competitive interest rates on savings accounts, allowing your money to grow over time and generate passive income. 

3. Liquidity: Savings accounts provide easy access to your funds, allowing you to withdraw money whenever needed without any restrictions. 

4. Financial Planning: A savings account helps you track your savings, manage your budget, and achieve short-term and long-term financial goals. 

Benefits of Multiple Savings Accounts: 

While a single savings account may suffice for most individuals, multiple savings accounts offer specific advantages: 

1. Goal Segmentation: Multiple savings accounts allow you to allocate funds for different purposes or goals, such as emergency savings, vacation, down payment for a house, or education expenses. This segregation simplifies tracking your progress towards each objective. 

2. Enhanced Organization: By having multiple accounts, you can keep your finances organized, ensuring that funds are allocated appropriately and reducing the chances of accidental overspending. 

3. Increased Interest Earnings: Each savings account accrues interest individually. By spreading your funds across multiple accounts, you can maximize interest earnings, particularly if you have significant savings. 

IndusInd Bank Savings Account: 

IndusInd Bank’s Savings Account is an excellent choice for individuals looking to increase their savings and earn risk-free returns. With a wide range of features and benefits, it offers a comprehensive banking experience tailored to your needs. Some key features of an IndusInd Bank Savings Account include: 

1. Competitive Interest Rates: IndusInd Bank provides attractive interest rates on savings accounts, allowing your money to grow faster. 

2. Digital Banking Convenience: Enjoy the convenience of seamless digital banking with IndusInd Bank’s user-friendly mobile and online platforms, enabling easy fund transfers, bill payments, and account management. 

3. Personalized Services: IndusInd Bank offers personalized banking services, including the freedom to pick an account number of your choice along with other tailored financial solutions. 

Opening Two Savings Accounts in IndusInd Bank: 

To open two savings accounts, follow these simple steps: 

 1. Pick an account number: IndusInd Bank gives you the option to select an account number of your choice – be it your birthday or your phone number. This allows you to personalize your banking experience. 

2. Enter your details: Fill in the necessary details in the online application form. You will be asked to provide information such as your name, contact details, address, date of birth, occupation, and other relevant personal information. 

3. Fund the Account: To activate your IndusInd Bank online savings account, you will be required to make an initial deposit. Choose the amount you wish to deposit and select the payment method convenient for you. You can transfer funds from your existing bank account through UPI, NEFT, IMPS, or other available options. 

4. Complete Video KYC: For the final step, complete your Video KYC from anywhere, at any time. All you need is PAN & Aadhaar Card! 

Once your application and documents are verified, the bank will activate your second savings account. You will receive the account details and associated debit card. You can then access your account through various channels, such as online banking, mobile banking app IndusMobile, ATMs, and in-branch services. 

 Click here to open IndusInd Bank Online Savings Account NOW  

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision.  IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.