How to Open a Maxima Savings Account

Open Savings Account with 3 Easy Step and start enjoying Health, Lifestyle & Travel benefits

Haven’t you opened a savings account yet? No problem; it’s still not too late. 

First things first, what purpose does a savings account have? There is no definite answer with so many benefits on the list, but one of the best is achieving financial independence and stability. 

Now, opening up a savings account is pretty straightforward. You just have to pick a bank or credit union that’s offering a decent interest rate and low fees. 

Talking of low rates, the Maxima Savings Account from Ujjivan Small Finance Bank is one of the best options to go for. It gives foundation to your whole financial game plan. 

How to Open a Savings Account:

• Choose a bank e.g., Ujjivan Small Finance Bank that offers savings accounts with favourable interest rates, low or no fees, and convenient access (online, mobile app, or nearby branches).
• Gather the required documents, such as a valid government-issued ID, proof of address, and any other documents requested by the bank.
• Visit the bank or apply online, providing your personal and contact information, as well as your initial deposit amount.
• Review and agree to the terms and conditions, and the account will be opened for you.

Why Open a Maxima Savings Account?

• Maxima Savings accounts pay interest up to 7.5% on the money you deposit, allowing your funds to grow over time. 
• Having a Maxima savings account helps you distinguish between money for daily expenses (the checking account) and money set aside for specific goals or emergencies (the savings account).
• This savings account encourages you to cultivate the habit of setting aside money regularly, which is essential for building wealth and achieving financial goals.
• A well-funded savings account can serve as an emergency fund, providing a financial cushion for unexpected expenses such as medical bills, car repairs, or temporary job losses.

Benefits of a Maxima Savings Account:

•  It’s designed to maximise your savings potential. The flexibility in balance maintenance and the enhanced daily ATM cash withdrawal limit of ₹2.5 lakhs.
•  It comes along with a higher POS and e-commerce limit of ₹5 lakhs, ensuring liquidity and ease of access to your funds. 
• With the Maxima Savings Account, you can enjoy unlimited and free transactions across any bank ATM, NEFT, RTGS, IMPS, cheque book- and demand draft
• It provides features like high interest rates up to 7.5% and complementary health services for the first year.

Financial Independence and Savings Accounts:

• A Maxima savings account plays a crucial role in a well-rounded financial plan.
• Building a substantial emergency fund through consistent savings can provide peace of mind and financial stability, reducing the need to rely on others or go into debt during difficult times.
• Saving for specific goals, such as retirement or starting a business, can help you achieve financial independence by providing the necessary funds to pursue your dreams and aspirations without being tied to a regular pay check.
• Developing strong saving habits and discipline through a savings account can translate into other areas of your financial life, such as investing and wealth-building, which are essential for achieving true financial independence.

Considering the Maxima Savings Account, it offers a range of benefits that align with the principles of financial security and independence. Additionally, the account comes with a Rupay Select Debit Card that provides complimentary airport lounge access, personal accident cover, and exclusive lifestyle benefits. These features contribute to the goal of building a substantial emergency fund and saving for specific life goals, thereby supporting your journey towards financial independence.

So, choose wisely and live fully.

Kenneth

Kenneth is a proud native of sydney, born and raised there. However, he pursued his education abroad and studied in Australia. Kenneth has worked as a journalist for almost a decade, making valuable contributions to prominent publications such as Yahoo News and The Verge. Currently, he serves as a journalist for The Hear Up, where he focuses on covering climate and science news. You can reach Kenneth at [email protected].