Opening a bank account has become very easy today thanks to online banking and seamless internet access across India. However, since your savings account is your first step toward your financial journey, you must analyse various bank accounts in detail before choosing one.
Read this article to know the most convenient way to access your bank account and a list of the best banking apps in India in 2023. In addition, find the features that make an online bank account the best way to begin your savings and investment journey.
Which is the most convenient way of accessing a bank account?
With the sweeping changes technology has brought about in the financial sector, online money transfers are an everyday reality in India. The Unified Payments Interface (UPI) processed over 7400 crore transactions worth ₹ 125.94 lakh crore in 2022 and has displayed steadier momentum in 2023.
This statistic, however, points toward another growing phenomenon – the increasing acceptance of online bank accounts and a growing preference among the Indian population concerning online banking. The most convenient way of accessing a bank account today, therefore, is through a mobile banking app.
Which features does one find in the best online bank account app?
In this section, let us compile a list of features usually found in the best online bank account app. Here are those features:
- High security
The best mobile banking apps provide high and robust security. The best banks offer multiple security measures to their customers. Along with password and OTP verifications, you get complete encrypted transactions.
- Fast online payments
An effective online banking app must facilitate fast and reliable money transfers. IDFC FIRST Bank Auto Pay feature on its mobile banking app, for example, is a fast money transfer feature and is popular among users.
- Investment options
The mobile banking app must also provide features for investment so that customers can parallelly invest their funds. The best mobile banking apps offer investment, deposit, utility payments, and savings-related features.
- Good customer service
A service about which very few customers research is the customer support and service offered. In everyday banking, since you deem immediate resolutions, you need an efficient and responsive customer service team to address all your concerns.
- Insights
Finally, the mobile banking app must help you derive insights from your previous expenditures. For example, IDFC FIRST Bank offers the Track Your Expenses feature on its mobile banking app that can help you take necessary actions to grow your savings exponentially in the future.
List of the best banking apps in India in 2023
Here are some of the best banking apps in India in 2023:
- IDFC FIRST Bank mobile banking app
The IDFC FIRST Bank app ticks all the boxes for any customer looking for an effective mobile banking app. It has all the required features mentioned above and a lot more to assist your daily finances. Check out its features .
- HDFC Bank mobile banking app
Check your account summary, make credit card payments, and seamlessly transfer funds with the HDFC Bank app.
- SBI YONO app
The State Bank of India (SBI) YONO app also has distinctive features and offers avenues for investments, savings and deposits for better capital gains.
- The Axis Bank mobile app
Check out the Axis Bank mobile banking app to track your bank account statements and pay your credit-card EMIs without trouble.
- The BOI mobile app
The Bank of India mobile app, too, helps you view and keep track of all your transactions and facilitates online money transfers.
Choose from the best mobile banking apps of 2023 to start your banking and investment journey on a high this year!
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