Everyone should have a savings account in digital India. Many people do not open a savings account due to a lack of time, in which case a Fino Payment Bank account opening can be helpful for you.
With Fino Payment Bank Savings Account Opening, you can do all your banking-related tasks, making your banking experience great. Fino Payment Bank offers you opening different types of savings accounts, which you can open both online and offline. Here we will discuss the features, benefits, and charges for a Fino Payment Bank Account opening.
Contents
Fino Payment Bank Account Opening Review
| Article Topic | Fino Payment Bank Account Opening Online |
| Bank Name | Fino Payment Bank |
| Service Name | Fino Payment Bank Saving Account |
| Types of Saving Account | Shubh, Pratham, Saral, Suvidha, Bhavishya, Jan, Aarambh Saving Account |
| Fino Bank Account Opening Customer Care Number | 022 6868 1414 |
| Bank Branches | 54 Bank Branches and 130 Customer Service Points |
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Types of Fino Payment Bank Account Opening (Saving Accounts)
If you want to open a savings account with Fino Payment Bank, then the bank offers you seven types of digital savings accounts, out of which you can choose the savings account at your convenience. All Savings Account comes with different kinds of features & benefits.
- Shubh Savings Account
- Pratham Savings Account
- Saral Salary Account
- Subidha Account
- Bhavishya Savings Account
- Jan Saving Account
- Aarambh Savings Account
Fino Payment Bank Shubh Savings Account
Shubh Khata offers a host of benefits and facilities to grow your savings. This is a zero-balance savings account with which the customer gets the Platinum/Classic RuPay Debit Card.
Key Features
- With this Saving Account, you do not need to maintain a minimum balance in the savings account.
- Rate of Interest: Earn up to 6.25% p.a. by opting for a Sweep account facility.
- The interest rate on balance in a sweep account opened with Partner Bank – Up to INR 1 Lakh – 4% p.a., over INR 1 lakh and up to INR 10 Lakh – 6.25% and above INR 10 Lakh – 6% p.a.
- Accidental insurance/permanent disability cover of up to Rs 2 Lakhs linked with Rupay Platinum Debit Card.
- Free cash deposit limit up to Rs.50,000 per month
- Free cash withdrawal at Fino Bank Branches
Fino Payment Bank Pratham Savings Account
Pratham Savings Account is designed to meet all your banking needs without maintaining a high balance. You can reach out to Fino’s 54 branches, 143 customer service points, and banking outlets across 94% of the districts in India and open your Pratham Savings account.
Key Features
- Instant account opening and debit card activation
- Low monthly average balance requirement of Rs.1000
- Aadhaar seeding facility to receive government subsidies (DBT benefits) linked with Aadhaar
- Sweep account facility with a potential to earn interest up to 6.25% p.a. on daily end-of-day balances
- Get the best-in-class Classic/Platinum RuPay debit card with your account. Also, there is insurance coverage of up to Rs.2 Lakh in case of death/permanent disability due to an accident linked with the Rupay Platinum debit card.
- Instant fund transfer facility through IMPS at nominal charges to any bank account in India with Access to your account anytime and anywhere through mobile banking applications, FinoPay, and Internet banking.
Saral Salary Account
Saral Salary account is specially offered for salaried individuals, offering convenience and simplicity. It features salary credit, easy fund transfer, and access to debit cards for seamless transactions, making it ideal for managing monthly income efficiently.
Key Features
- You can open a bank account quickly and easily without delay or complicated procedures.
- Your salary credited to your account is simple and hassle-free.
- Once you have opened your account, you can activate your Debit Card immediately for transactions.
- You are not required to maintain a minimum balance in your account. It can be operated with zero balance.
- Any excess funds in your account are automatically transferred to a higher-interest-earning account. So, you can earn interest of up to 6.25% per annum on those balances.
- Platinum Rupay Debit Card with Insurance Cover: With your account, you get a premium Platinum Rupay Debit Card that offers various benefits, which include insurance coverage of up to Rs. 2 reductions in case of accidental death or permanent disablement.
- ATMs across the country and enjoy free transactions up to six per month.
- Instant Fund Transfer Facility: You can transfer funds instantly and conveniently to any bank account in India using IMPS (Immediate Payment Service) at a nominal cost.
- You can access your account anytime and anywhere through Mobile Banking Applications, Finopay, and Internet Banking.
Subidha Account
Subidha Account focuses on providing convenience and flexibility to customers. It offers a range of banking services to meet individual needs, including easy access to funds, online banking facilities, and personalized customer support, ensuring a hassle-free banking experience.
Key Features
- No minimum balance requirement
- With a network of 54 branches, 143 customer service points, and banking outlets spread across 94% of the districts in India, you can easily access banking services and meet your banking needs with ease
- You receive a free monthly account statement via email. So, you can keep track of your transactions and account activity.
- You can use the IMPS service to allow quick and convenient money transfers to any bank account at a nominal fee.
- You can access your account anytime through Phone Banking and Mobile Banking, giving you convenient options to manage your account on the go.
- Free SMS alerts to track account activity
Bhavishya Savings Account
Bhavishya Savings Account is designed to help customers save and plan for their future. It offers attractive interest rates, personalized financial guidance, and investment options to help build wealth over time, enabling individuals to achieve their long-term financial goals.
Key Features
- Monthly Average Balance Requirement: Nil
- Aadhaar seeding facility to receive scholarship subsidy and other benefits directly in your account
- Mobile banking access (with view rights) to manage accounts conveniently anywhere and anytime.
- Up to 5 free ATM transactions in a month*
- Free cash deposit limit up to Rs.50,000 per month
- Free cash withdrawal at Fino Bank branches
Jan Saving Account
The Jan Saving Account is a basic savings account designed to promote financial inclusion and provide banking services to the masses. It offers features like low minimum balance requirements, easy account opening procedures, and access to basic banking facilities, making it accessible and affordable for everyone.
Key Features
- With this Saving Account, you do not need to maintain a minimum balance in the savings account.
- Interest Rate: Up to INR 2 Lakh 2.75% per annum paid quarterly on EOD balance. Earn up to 6.25% p.a. By selecting the Sweep Account facility. Sweep account facility with a partner bank for a balance above Rs 1 lakh
- Aadhaar seeding facility to receive LPG subsidy and other benefits directly into the account
- The free limit for AePS transactions in a month: 4 withdrawals and 2 balance inquiries (no free limit on mini statement); Rs 10 per transaction (applicable to first mini statement)
- Free cash deposit limit of up to Rs 50,000 per month; 0.5% of the transaction amount, subject to a minimum of Rs.5
- Free 4 cash withdrawals per month; 0.5% of the transaction amount, subject to a minimum of Rs.5
- Mobile banking access to conveniently manage accounts anywhere and anytime
Aarambh Savings Account
The Aarambh Savings Account is a beginner-friendly account designed for young individuals who are starting their financial journey. It offers features like low minimum balance requirements, attractive interest rates, and benefits like free educational resources and financial literacy programs to help them develop good saving and banking habits from the start.
Key Features
- The account offers an attractive annual subscription fee of just Rs. 99.
- You are not obligated to maintain a minimum balance in the account.
- Attractive interest rates with sweep facility: You can earn a competitive interest rate of up to 6.25% by utilizing the sweep facility for excess funds.
- Conveniently manage your accounts anytime and anywhere through mobile banking.
- Activate the account with initial funding of Rs. 100.
- Enjoy a total daily withdrawal limit of up to Rs. 2 lacks.
- Receive account statements at no cost through email.
- Link your Aadhaar number to facilitate Direct Benefit Transfer.
Eligibility Criteria & Documentation for Fino Payment Bank Account Opening
The eligibility criteria for opening a Fino Payment Bank account may vary depending on the specific account type and the services offered.
- The customer must be a minimum of 18 years of age to open Fino Bank Savings Account.
- Identity Proof: Any one of the documents – Passport, PAN Card, Ration Card, Aadhar Card, Voter’s ID, Driving Licence.
- Address Proof: Any one of the documents – Telephone bill, Electricity bill, Passport, Ration Card, Rental Agreement, Aadhar Card.
- Photographs: Provide recent passport-size Photographs for account opening.
- Other requirements: Depending on the type of account, Fino Payment Bank may have additional requirements, such as income proof for services or specific documents for KYC (Know Your Customer) compliance.
Note: If you do not have a PAN card, you can submit Form 60 instead of a PAN card to open a saving account.
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FAQ for Fino Payment Bank Account Opening
Can I open an online bank account in Fino Payment Bank?
Yes, Fino Payment Bank allows you to open a bank account online through its digital platform. For online account opening, you need to visit Fino Payment Bank’s official website or mobile banking application and follow the instructions to open an account, provide necessary personal information, upload scanned copies of identity documents, and complete the required verification steps completion may be required. The online account opening process is designed to make it easy and accessible for individuals to start banking with Fino Payment Bank.
What are the account opening charges for Fino Payment Bank?
The account opening charges for Fino Payment Bank may vary depending on the type of account you choose and the services associated with it. Fino Payment Bank offers different types of accounts to suit the various needs of customers. Some accounts do not have account opening charges, while in others, the charges can range from Rs 99 to Rs 349.
What is the ATM limit of Fino Payment Bank?
Fino Payment Bank offers different debit card variants with varying ATM and point-of-sale (POS) transaction limits. As Per the guidelines set by the Reserve Bank of India (RBI), the daily cash withdrawal limit for basic savings accounts provided by payment banks is generally set at Rs. 10,000 per day. The “Classic” debit card allows a daily ATM withdrawal of INR 10,000 and a daily POS transaction limit of INR 35,000. The “Platinum” debit card provides a higher daily ATM withdrawal limit of INR 15,000 and a daily POS transaction limit of INR 50,000.
I do not have a PAN card. Can I open a savings account?
As per the current regulations in India, having a PAN (Permanent Account Number) card is typically required to open a savings account. PAN card serves as primary identification and tax-related document for individuals. If you do not have a PAN card, you can submit Form 60 instead of a PAN card to open a saving account.
How can I contact Fino Payment Bank to open Saving Account?
Open an account in Fino Payment Bank and get a Debit Card instantly. To open an account, give a missed call on 7877788977 or SMS “ACC” to 8506978686.
What is the minimum balance required to open a Fino Payment Bank account?
There are different types of accounts offered to you by Fino Payment Bank. Many of these have zero balance accounts with no minimum balance commitment, and some accounts require a minimum balance of at least ₹1000. Account holders get a complimentary Platinum RuPay Debit Card. Link your account with Aadhaar and receive a scholarship subsidy and other subsidies in your bank account.
