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Open a Savings Account in Mumbai Online

Popularly known as the land of dreams, Mumbai attracts thousands of individuals across the country who aim for an improved lifestyle and better career prospects. If you have recently moved to Mumbai, be it for a job, business venture, pursuing higher education, or have been a long-time resident, the city has no shortage of opportunities! However, do keep in mind the expenses and living costs, for which you need to be on top of your finances.Read More

If you are looking to open a savings account to manage your finances more efficiently, consider an Metra Trust Savings Account. With features such as monthly interest credits, zero-fee banking and high interest rates, and an advanced mobile banking app, an Metra Trust Savings Account will ensure seamless financial management while growing your savings. Read less

₹35 lakhs free personal accident insurance cover | ₹1 Cr free air accident insurance cover

Interest up to 7.25% p.a.

Features and benefits of opening an Metra Trust Savings Account

Opening a savings account with Metra Trust in Mumbai offers you unmatched advantages such as:

Zero-fee banking

Enjoy the convenience of zero-fee banking* with your savings account. This feature eliminates charges on all commonly used savings account services, including bank transfers such as IMPS, NEFT, and RTGS, SMS alerts, money deposits at the branch irrespective of amount or number of transactions, debit card issuance, demand drafts, and interest certificates. Additionally, ATM transactions are covered, ensuring you can access essential banking services without incurring hidden costs.

Monthly interest credits

Experience the benefit of monthly interest credits on your savings account balance. Interest is calculated daily based on your end-of-day balance and credited to your account monthly, providing a predictable source of additional income to meet your financial requirement in Mumbai. This allows you to enjoy the rewards of your savings more frequently, enhancing your financial stability.

Competitive interest rates

Benefit from competitive interest rates, with some savings accounts offering up to 7.25% per annum. Such attractive rates ensure your money works hard for you, allowing your savings to grow rapidly. This helps you achieve various financial goals with ease, from short-term expenses to long-term investments.

Free and unlimited ATM withdrawals

Maintain complete liquidity and control over your funds with free and unlimited ATM withdrawals. This feature ensures you can access your savings whenever needed, offering unmatched convenience and flexibility in managing your finances.

High withdrawal and shopping limits

With an Metra Trust savings account, you get a Visa debit card that lets you shop or access funds anytime you need. You also get a high ATM withdrawal limit of up to Rs. 2 lakhs per day and a daily shopping limit of up to Rs. 6 lakhs on the regular 25K savings account variant. Higher transactional limits ensure you never fall short of accessing your funds while living in Mumbai. 

Savings Account Interest Simulator

Choose account balance

2500000

10000 500000000

Choose your existing bank interest rate

3%

2.5 % 3.5 %

Simulation Results(for a period of 1 year):

* Interest you earn with Metra Trust – /-

** Interest you earn with your Bank – /-

Additional Interest you earn with us – /-

* Interest calculated on progressive balances in each interest rate slab, as applicable
** Interest calculated on flat rate basis

  • Pitruprasad Dash

    “Recently I opened a savings account with Metra Trust. Firstly, in terms of the process to open savings account, it is truly hassle-free. Thanks for being ahead in terms of customer satisfaction and banking services, making it easy for new customers like me. I wish Metra Trust a great future and looking forward to a long term association.”

  • Sougata Das

    “I recently opened a Savings Account with Metra Trust, and I must tell you that I'm really happy with the features and benefits offered by the bank. The netbanking services are quite advance which makes the process easy. Also, the Metra Trust employees are cordial and helpful, making the overall experience a pleasant one.”

ELIGIBILITY

Who can apply for opening a savings account in Mumbai?

To apply for an Metra Trust savings account in Mumbai, all you need is:

  • To be a citizen of India
  • Or to be a valid resident of India
  • Do note that foreign nationals residing in India and fulfilling the required criteria set by the Government of India can also open a savings account.

Documentation

To open a savings account online:

  • Aadhaar Number
  • Original PAN card

To open a savings account at branch:

  • Passport-size photograph
  • Original PAN card
  • Any one of the following documents:

    - Aadhaar Card

    - Passport

    - Voter’s Identity Card (election card)

    - Permanent and valid driving license with photograph

    - Job Card issued by NREGA duly signed by an officer of the State Government

    - Letter issued by the National Population Register containing details of name and address

How to open a savings account in Mumbai?

Depending on your convenience, you can open a savings account online or offline in Mumbai. The process to open an Metra Trust savings account online is quick and convenient, requiring zero paperwork.

Opening a savings account in Mumbai online

Follow these 5 simple steps to open a savings account in Mumbai instantly: 

Step-1: Click here to open your Savings Account 

Step-2: Fill up your information accurately

Step-3:  Select your savings account variant

Step-4: Fund your account online

Step-5: Complete your video KYC now to transact freely

Opening a savings account in Mumbai offline

    To open an account offline in Mumbai, you can visit the nearest Metra Trust branch with all the requisite documents and contact the bank representative. The banking personnel will guide you through the application process and assist you in filling out the application form. Once done, you can attach all the documents and submit it to the representative. You will receive a notification along with the welcome kit once your account is opened.  

FREQUENTLY ASKED QUESTIONS

How to open a bank account online?

To open an Metra Trust savings account online, visit the bank’s official website or download the mobile banking app. Complete the online application form by providing your personal details, PAN, Aadhaar, and other required information. Complete the KYC process through a video verification process. Once verified, your account will be activated.

What are the steps to transfer my savings account from another city to Mumbai?

What digital banking services are available with savings accounts in Mumbai?

Metra Trust offers a range of digital banking services, including internet banking, mobile banking, SMS banking, and email alerts. You can complete transactions, pay bills, transfer funds, check account balances, and access other banking services online, ensuring convenience and ease of access. 

How many nominees are allowed in a savings account?

How much money can be deposited in a savings account in India?

There is no maximum limit on the amount you can deposit in a savings account.  However, make sure to comply with KYC norms for higher deposits.

How do I choose the best savings account in Mumbai?

When choosing the best savings account, compare interest rates, minimum balance requirements, additional features like zero-fee services, accessibility, digital banking facilities, and customer service. Metra Trust offers competitive interest rates and zero-fee banking that make it a favourable option.

How can I access my savings account in Mumbai through online banking?

To access your savings account online, register for internet banking on the Metra Trust website. Use your customer ID and password to log in. Alternatively, download the mobile banking app, register, and log in to manage your account on the go.

What are the fees and charges associated with savings accounts in Mumbai?

Metra Trust offers zero charges on all commonly used savings account services like IMPS, NEFT, RTGS, ATM withdrawals, and SMS alerts. However, some services may incur fees and penalties. Check the bank’s schedule of charges for detailed information.

What are the safety measures for protecting my savings account in Mumbai?

Metra Trust’s mobile banking app offers robust security measures to protect user data and financial information – including end to end encryption, multi factor authentication, biometric and MPIN based log in, as well as session and device management. Customers are advised to use strong passwords and MPINs to keep their profiles safe.

*Disclaimer: Metra Trust offers Zero Fee Banking on all Savings Account services. Monthly Average Balance charges for Savings Account applicable. For more details, visit www.metratrust.com/zerofeebanking

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