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Get latest articles and stories on Business at LatestLY. Mumbai (Maharashtra) [India], July 25: A Savings Account is a type of deposit account offered by banks and financial institutions, enabling customers to deposit and withdraw funds conveniently and at their will akin to the concept of it being a “demand deposit.” It serves as a secure place for day-to-day financial transactions, bill payments, and emergency funds. Prior to the introduction of UPI in India, average transactions in Savings Accounts were restricted to in-person withdrawals, cheques, and debit card usage. However, UPI's advent has transformed digital payments, leading to a significant surge in the average number of transactions in Savings Accounts. UPI's convenience has revolutionized financial activities, making the Savings Account an essential and dynamic tool in the modern banking era for day-to-day financial requirements. Business News | Maximize Your Savings with AU Small Finance Ba

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