How to Open a Savings Account in bKash: A Complete Guide

bKash, the leading mobile financial service in Bangladesh, is more than just a platform for sending money or paying bills. One of its standout features is the ability to open a savings account directly from the app. This makes saving money easier, more secure, and highly accessible. If you're wondering how to open a savings account in bKash, this step-by-step guide will help you get started.

Why Open a Savings Account in bKash?

Here are some benefits of a bKash savings account:

1. Earn Interest: Grow your savings with monthly or yearly interest.
2. No Hassle: Open and manage your account entirely from the bKash app.
3. Secure Transactions: Your savings are safe and protected.
4. Instant Transfers: Move money between your savings and regular bKash accounts effortlessly.

Step-by-Step Guide to Open a Savings Account in bKash

Step 1: Download or Update the bKash App

• Make sure you have the latest version of the bKash app installed on your smartphone.
• If you don’t have the app, download it from the Google Play Store or the Apple App Store.

Step 2: Log in to Your bKash Account

• Open the app and log in using your bKash account credentials.
• If you’re not yet registered with bKash, you’ll need to create an account first.

Step 3: Access the Savings Feature

• On the app’s home screen, find and tap the “Savings” option.
• You will see information about the savings account, including terms and benefits.

Step 4: Select a Partner Bank

• Choose from the list of partner banks offering savings services through bKash.
• Popular partner banks include BRAC Bank, City Bank, and others.

Step 5: Provide Necessary Details

• Fill in the required information, including:
  • Your NID (National ID)
  • Personal details (name, address, etc.)
• Double-check all information for accuracy.

Step 6: Set Up Savings Preferences

• Decide on your savings plan:
  • Fixed Deposit: Save a lump sum for a fixed period to earn higher interest.
  • Flexible Savings: Add and withdraw funds anytime while earning interest.
• Specify the amount you want to save and the duration of the savings.

Step 7: Confirm and Activate

• Review all the details and confirm your application.
• Once approved, your savings account will be activated, and you can start saving immediately.

Additional Features of bKash Savings Accounts

1. Automated Savings: Set up automatic transfers to your savings account each month.
2. Withdraw Anytime: Access your funds whenever needed (based on your plan).
3. Notifications: Receive updates on your balance and interest earnings.

Tips for Managing Your bKash Savings Account

• Set a Goal: Decide on a specific purpose for your savings, such as education, a trip, or emergency funds.
• Track Your Progress: Use the app to monitor your savings and interest earnings regularly.
• Save Consistently: Make small but regular deposits to grow your savings steadily.

Conclusion

Opening a savings account in bKash is a smart move for anyone looking to save money conveniently. With its easy setup process and attractive benefits, bKash makes saving accessible to everyone in Bangladesh.