Online Savings refers to a type of savings account that is offered by banks or financial institutions primarily through internet-based platforms. These accounts typically offer higher interest rates compared to traditional savings accounts because they often have lower overhead costs associated with maintaining physical branches. Online savings accounts allow individuals to deposit funds, earn interest, and withdraw money while enjoying the convenience of managing their finances via online banking services. While they provide liquidity and a safe place for savings, these accounts may also come with certain restrictions, such as limited transactions per month or access to ATMs. Overall, online savings accounts are designed to encourage saving by offering competitive interest rates and easy access to funds.
Fintilect, a leader in hyper-personalized digital banking solutions, has teamed up with DF Capital to enhance online self-service options for business savings accounts aimed at small and medium-sized enterprises (SMEs).…