Many working couples today split household expenses equally between them. In some cases spouses maintain their separate savings accounts to receive salaries and make a list of the items in the monthly budget that each will pay for, from their respective
accounts. While some others open a joint savings account and contribute money, out of which they pay for their expenses. Assuming your household falls in the latter category, would you like an option to combine the transactional ease of a savings account and yet earn additional interest? You can also enjoy discounts and deals on your regular monthly purchases.
Axis Bank’s ASAP Instant Savings Account is an online savings account that can be opened with no documentation and paper work. It can be opened
in a few minutes using your Aadhaar and PAN details.
Keep in mind that an ASAP account cannot be opened in a joint name; hence it has to be either in your or your spouse’s name. But you can make your spouse the nominee for the account. The initial funding should be done from a Full KYC account
of the individual in whose name the ASAP account is being opened. However, after the initial funding, both spouses can transfer money into the ASAP account from their respective accounts.
Good option for regular payments
If you maintain a certain balance in your Axis ASAP account you can enjoy offers and deals from ecommerce firms such as Amazon, Bigbasket, Bookmyshow, and so on. This will take care of your regular monthly household needs as well as your movies and
entertainment. And you continue to earn points while making these transactions, which in turn means further deals and discounts.
Save together for joint goal
There is no minimum balance requirement for an Axis ASAP account. However any amount above Rs 20,000 is automatically swept into its Auto-FD feature and fetches you higher interest rates. This amount is liquid and available for withdrawal anytime.
This means that the funds in your account, after all regular payments are done, will fetch you higher returns without you having to do anything. You can now not only pay for expenses together, but can also save for your financial goals jointly,
without any extra effort. You don’t need to fill out an application for opening an FD, etc.
What’s more, Axis ASAP also has a feature that allows you to set financial goals and contribute an amount towards that. This amount too can be withdrawn whenever you require. So there is no fear of your money being locked up. Use this option
to save money for that high-end home theatre system you have been eyeing or for the refurbishing of your home after a year or two. Check terms and conditions for Axis ASAP for further details on how to set goals and the amounts required for the
Axis ASAP is truly a new-age digital savings account with no paperwork and documentation, right from opening the savings account to carrying out transactions. While charges on most of the basic account services are nil, you can enjoy all benefits of a full-fledged savings account. The online savings account opening process is a simple and fairly easy one, all you need to do is visit any of our Axis Bank branches within 1 year to regularize your account.
So open your Axis ASAP account now!
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or 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. Please consult your financial advisor before making any financial decision.