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Key reasons to have a banking app for personal banking

3 min read

People have found a lot of value in mobile banking since the pandemic. Checking account balances, paying bills, transferring funds, and receiving notifications are the functions most people want to have on a banking app. Banks keep updating their mobile apps to add more features to help the users manage, save and invest money for higher returns. 

Keeping this in mind, they have incorporated several money managing tools into their banking apps to improve the personal banking experience. Choosing the right banking app will help you make the most of the features. The IDFC FIRST Bank mobile banking app offers features that help carry out personal net banking tasks easily.  

With a mobile bank app, you can do numerous personal banking tasks such as linking your bank accounts, viewing account statements, transferring funds, managing your debit cards, availing loans, making payments instantly, and managing your finance. Here are some prominent banking features offered by the IDFC FIRST Bank app.  

Savings and deposits

IDFC FIRST Bank offers different savings accounts designed to meet your individual requirements. Some popular ones include Corporate Salary Account, Senior Citizen Savings Account, FIRST Power for Women, Pratham or Zero Balance Account, Minor’s Savings Account, Future FIRST Savings Account, and Vishesh Savings Account. 

You can open a free online account and do online transfer of funds from one account to another with the same bank or different banks. A savings account offers attractive interest on the money in the account. 

To open a savings account is simple through a digital process using Video KYC. You get benefits such as a cashback offer on activation, free and unlimited ATM transactions, and higher POS limits. You can now open a savings account online with IDFC FIRST Bank and start earning more on your savings.

Instant personal loans 

You can get a personal loan through your IDFC FIRST Bank mobile app and achieve your financial goals. The bank offers a personal loan for different purposes, like meeting wedding expenses, funding your dream vacation, paying unforeseen medical bills, and renovating your home. 

You can apply for an unsecured personal loan to meet a financial urgency. The loan process includes minimal documentation and a hassle-free application process. You can get loans up to 40 lakhs at competitive interest with flexible repayment options if you are eligible.  

Credit Cards

As a customer of IDFC FIRST Bank, you can apply for a suitable credit card on a mobile banking app based on your eligibility. The credit cards offered by the bank include FIRST Millennia, FIRST Classic, FIRST Select, and FIRST Wealth. You can enjoy credit facilities, deals, discounts, and interest-free money withdrawals on them.

Investments and insurance 

A mobile banking app is the best platform for investments. Using an integrated personal banking app, you can manage your money by investing in mutual funds, gold bonds, and fixed deposit schemes. You can invest your money in any of the 60 mutual fund plans and grow your wealth over a period. The mobile bank app also offers you an opportunity to buy any of the insurance options like the unit-linked insurance plans to secure your future and save tax. 

Various payment options

One of the most valuable features of a banking app is the option to make instant payments. They include: 

  • Credit card payments
  • BHIM UPI paymentbill payments and recharge
  • Online shopping and payments
  • Financial market service for international transactions
  • NACH
  • Online tax payments
  • Bharat QR scan & pay option
  • Point of sale
  • Cashless EMI card 
  • Debit card EMI
  • Easy Buy on debit cards
  • Positive Pay

The IDFC FIRST Bank mobile banking app is designed to have the best personal banking features that allow customers to compare income and expenses. The app has tools for income & expenses analysis, cash flow summaries, and real-time transaction statements to manage personal finance. You can compare the cash flow and plan your finance in a better way. 

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