Edge accounts are the perfect financial solution for students and young adults, offering numerous benefits tailored to their unique needs. With zero balance account opening, these accounts eliminate the hassle of maintaining a minimum balance. Institutions like Kotak 811 Mahindra Bank are renowned for their student-friendly features and user-friendly interface. Designed to meet the demands of today’s digital-savvy generation, these accounts provide seamless online banking experiences, easy fund transfers, and convenient bill payments. Empowering students and young adults with financial independence, Edge accounts have emerged as the ideal choice for the next generation of account holders.
Keep reading to learn more about edge account and what makes it the right choice for students.
What is an Edge account?
The Edge savings account is a unique money-saving opportunity provided by Kotak Mahindra 811 Bank. It can be considered the next step to your usual zero-balance savings account. Account holders need to maintain a minimum of 10,000 rupees in the bank.
What are the features you get with an Edge account?
Edge account is known for its exclusive benefits, such as free unlimited online transactions and plenty of offers on platinum debit cards.
Account holders can transfer funds via IMPS, NEFT, or RTGS without paying extra charges. Moreover, the account holders get a platinum debit card with many money-saving opportunities. Huge discounts on meals, fuel surcharge waivers, and access to airport lounges are some of the attractive benefits of an Edge account.
The best part is that it is a digital bank account that can be opened with zero paperwork. In the next section, we will discuss why Edge is an ideal choice compared to the zero balance account opening option for students.
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Why Edge account is best for students?
Zero balance accounts can be maintained with no balance requirements; however, it limits the offers and money-saving features for the account holders. Therefore, the Edge account has become a popular choice among students. The following are the reason a student should consider upgrading their regular zero balance savings account to an Edge account.
· Timesaving account opening process: Most students are on the verge of burnout because they manage many responsibilities; therefore, visiting the bank is inconvenient for them. Choosing the digital account opening process is a boon for busy students. An Edge account is a paperless bank account that can be opened with your mobile phone.
· Mobile apps to keep track of your money: Edge account can be managed via the mobile app, which makes finance management easier. Students can also get bank statements via email at no extra cost, making things easier and more encouraging.
· Encouraging interest rates on savings: The attractive deal encourages students who just started earning in part-time jobs and are looking for ways to save and earn more. It motivates them to save and earn interest on their savings.
· Freebies that you cannot miss: This account offers several benefits, such as discounts on meals, online shopping, and access to airport VIP lounges.
· Free fund transfers: While charges for fund transfer would be the least favourite thing for a student. Therefore, the feature of the Edge account to do free unlimited transactions makes it an ideal choice for them.
How to open an Edge account?
Edge account can be opened via the mobile app of Kotak 811 Mahindra Bank. After completing the application online, you can initiate the video KYC call to open the bank account digitally.
Who is eligible to get an Edge account?
You should be above 18 and have valid Aadhaar and PAN cards. If you are a student and don’t have a PAN card, maybe you should get one right now not to miss the huge money-saving deals of the Edge account.
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Final words
Edge accounts such as the Kotak 811 Mahindra Bank offer an ideal financial solution for students and young adults. With their zero balance account opening feature and student-friendly benefits, these accounts empower the younger generation with convenient and seamless banking experiences, leading them towards financial independence and success.
