Stay safe, bank safer – Tips to ensure your social and financial wellbeing

4 MinsMarch 26, 2020

The current global health advisory has affected all spheres of life. And while it is imperative to stay safe and alert in times of crisis, these trying times may have also caused you worries over how-to and/or whether it is safe to make a trip your nearest bank branch. While our branch banking services continue to be ready for your assistance should you need them, don’t let social distancing come in the way of your daily financial transactions. Additionally to further help you with taking your transactions digital, Axis Bank has also waived off charges for all our Savings Account, Current Account and Prepaid Customers.

Here’s a list of digital banking tools you could use from the comfort of your home to stay financially prepared for a crisis:

Social and Financial Wellbeing

Internet Banking & Mobile Banking: Depending upon your preferred mode of operation, you can simply:

  • Execute banking transactions: Check your account balance, transfer fund (via IMPS, NEFT), make chequebook, demand draft request (available via Internet Banking), Update KYC details etc.
  • Avail Instant Pre-Approved Loans
  • Make Payments: Pay utility bills, credit card bills, recharge mobile and DTH,
  • & Invest: Open an FD/RD and invest in mutual funds.

Using Internet Banking or the Axis Mobile app

Initiating Internet banking requires you to simply register your mobile number with the bank and log in using your Customer Id, alternatively you can also access your internet banking portal by using your debit card details and registered mobile no. However before you can start transacting digitally, you must complete your “NetSecure” login. This is essential for two-factor authentication, which ensures the highest level of safety for your transactions. Post which you can simply log in to your internet banking portal and manage all essential banking services. Click here to get started.

The Axis Mobile App provides banking services at your fingertips, what’s more your login is enabled and authenticated via an ‘MPIN’ that further eases your transaction process. Upon logging in to the Axis Mobile App, you can avail most of the services available at a bank branch. Including but not restricted to viewing all linked account balances, applying for new products, paying bills, transferring funds or investing across various avenues such as SIPs, FD, etc.

Additionally you can also use the app for locating Axis Bank Branches/ATMs, checking offers on Banking and Non-Banking products and use QR code scanners to make payments!

You can download the Axis Mobile App via the Play Store /App store or by clicking here.

Insurance: The current coronavirus epidemic has put the need of having the right kind of health insurance cover in the spotlight. While it is important to insure regardless of troubled times, building a safety-net for yourself and your loved ones with the right kind of insurance cover becomes indispensable when facing a crisis.

While buying a health insurance policy do check facets such as the list of ailments covered, waiting period, the insurance company’s claim settlement ratio, list of network hospitals and so on in addition to the premium. For further information, you can browse through a few Health Insurance plans that can be availed online, including but not restricted to specialized protection from Covid - 19.

Allocating your Emergency Fund: Although most of us realise the importance of setting up an emergency fund, it is often an opportunity missed and realised only in times of crisis. This worry could be further augmented if you are a freelancer or a consultant who gets paid per assignment or project. Remember your emergency fund must be separate from any investments made via SIPs, Bonds etc. as it will grant you a fall back option in case one resource has to be utilized entirely.

To ensure the health of your savings amassed or to start in case you haven’t; use the Emergency Fund Calculator.

Simply key in your Income, and indispensable expenses to know what your ideal nest egg should look like, since emergencies such as this or the next one, could most likely come announced.

Also Read: Personal Loans: A backup for your emergency needs

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.