What is Banking?
A common definition of Banking as taught in schools refers to the activity of obtaining money from individuals who have it in excess and lending it to those who are falling short of the same. The transaction is complete when the borrowing individual returns the money to the lending individual with some interest as a gesture of gratitude towards the individual lending the money.
What is a Bank?
A bank is an institution which facilitates the aforementioned banking services. Banks provide some additional benefits to both parties of the transaction such as safeguarding money, certainty of funds, formalization and elimination of middlemen exploitation etc – the aforementioned parties being the individuals in excess of money as well as those in need of money- at a fee.
Traditionally, banks have followed a brick and mortar model with customers approaching banks for either making a savings deposit or requesting for loans. New age banks talk about digital banking where customers need not visit a bank branch but can avail many banking facilities such as fund transfers, account statements at their fingertips ( thanks to Internet and Mobile Banking services). But is this enough for you? You are still required to reach out to a bank branch if you want to open an account isn’t it?
The era of Smart Products
Smartphones, Smart TV, Smart electrical appliances…there is a plethora of smart products which are an inherent part of our daily lives in this contemporary age. Fincare Small Finance Bank presents to you #SmartBanking.
101account by Fincare Small Finance Bank allows you to open your account in the comfort of your home/office and not at a bank branch. You can activate your account services and use the account for all necessary transactions via internet and mobile banking services instantly-all at once! Once you have opened your account, a bank executive will contact you to set up a convenient time for your physical verification at your home. However, that’s not all the 101account has to offer. The account comes with a host of features and benefits carefully designed for your day to day use.
Spoilt for choices, 101account gives you a choice between two attractive variants- 101 First and 101 Priority. 101 First comes with an attractive Gold debit card and has no minimum balance requirement. 101 Priority is uniquely designed to offer customers a Premier debit card (this has a unique vertical card design instead of your regular debit card) and provides 100% returns on an average balance of ₹ 25000.
Whether you are already banking with a particular bank or just beginning your banking journey in the real world, we urge you to open your account on 101account.com. Happy SmartBanking to you!