In India, Freo Save Account is one of the highest-yielding savings accounts that give you higher returns than other savings accounts!
Freo Save zero-balance digital savings account is best for Indian people who want to save and grow their money while enjoying a complete digital banking experience!
- Freo Save’s rewarding zero-balance savings account offers an entirely digital experience!
- Open a savings account, and you will have several benefits at your fingertips.
- With Freo Save, you can earn up to 7% interest on your savings, among the highest rates you can get in the market today.
- Best part about Freo save is that you don’t need to pay a maintenance fee – even if you don’t have funds in your account and your balance is zero.
- Besides the standard savings account function, several other features make Freo Save’s digital savings account a great option.
How to Open a Zero Balance Digital Savings Account with Freo Save ?
Step 1: Download the Freo Save App
App is available both on Android and iOS. Download it from your Google Playstore or App Store to open your zero-balance savings account.
Step 2: PAN and Aadhaar Verification
Now when the app is downloaded, you need to verify your PAN and Aadhaar card. Just fill in your Aadhaar Card number and PAN card number, and information will be fetched for verification.
Step 3: Personal and Professional Details
After you download the Freo Save app, you will be asked to provide and verify your email id and mobile number.
Next, Answer four basic questions related to your personal and professional details.
Step 4: Match Selfie and Confirm Address
After filling personal and professional details, you will be asked to take a selfie and upload it to match the live image with the Aadhaar card image. This makes the account opening process more secure. Furthermore, you need to verify your location details.
Features of Freo Save :
Digitalized banking experience allows you to open an account within minutes – no need for paperwork!
Higher Interest Rates
You can earn up to 7% interest on your savings, making it an excellent option for everyone.
Zero Balance Saving Account
No more maintenance charges. Spend from your savings account without worrying about getting penalized for not keeping a minimum balance in your account!
Available in Different Language
You can access your account in several languages as Freo Save is available in Hindi, Tamil, Kannada, Telugu, Malayalam, Bengali, Marathi, and more!
Virtual Debit Card
With the virtual debit card, you can shop online, claim cashback, stay protected against card frauds, and reset your card PIN through the savings app! Physical card coming soon.
5 Lakh Deposit Insurance
Your money in the account is insured up to ₹5 Lakh as per the RBI mandate.
Built on the Equitas SFB’s secure banking platform, your financial data is safe with full security controls on our app!
Get Access to Freo Pay
Once you open digital savings account with us, you get access to our QR-based Shop Now, Pay Later App – Freo Pay!
Get Access to MoneyTap
Pay interest only on the amount you used with – MoneyTap India’s First Personal Line of Credit that offers you credit of up to ₹5 Lakh!
Debit Card Features of Freo Save:
- Shop online with a virtual debit card
- Earn reward points on every spend – Claim cashback with points
- Block/unblock card when you want – Stay protected against fraud
Reset card PIN from the app – No bank visits, no hassle
Frequently Asked Questions(FAQs):
What Is the Minimum Balance Requirement for Freo Save’s Digital Savings Account?
You don’t need to have a minimum balance! You will not be charged anything if you need to use all the funds in your account.
What Are the Interest Rates for Freo Save’s Digital Savings Account?
- Up to ₹1 Lakh: 3.50%
- Up to ₹5 Lakh: 5.5%
- Up to ₹2 Crore: 7%
- Above ₹2 Crore: 5.50%
Are Freo Save Digital Banking Safe?
Freo Save is entirely safe. A federally assured digital bank is completely safe to trust!
However, you should always ensure you follow cyber safety rules for your own benefit.
For example, don’t click malicious links, never share your OTP or bank password with anyone, and don’t access your account from an unsecured open network.