That the world has become digitally connected. Today, there is nothing you cannot do online. From online shopping to market investment, everything happens online. Banks also offer Digital Banking facilities, through which you can send and receive money in your account within seconds.
The banking sector has moved forward and started enabling customers to do online Saving Account opening. Here are the steps for doing so:
Research
The provision to open an online Bank Account is relatively new. Not all banks offer this facility. So, before you can open one online, research about the banks offering this facility. A simple search helps you find banks that enable online account opening. Most private sector banks offer this facility, while only a few in the public sector currently have this provision.
Decide account type
Once shortlisted, visit their website, and choose the Saving Account you want to open. Most banks allow you to open different accounts, including Joint, Minor, Senior Citizens, Women, Zero-Balance, and accounts under various government schemes. Choose the type you wish to open and then move to the next step. Note, you cannot open a Current Account online.
Account opening form
After selecting the type, fill the account opening form. This is a basic form where you add details like your name, address, contact details, PAN Card number, and account type you intend to open. Affix your passport size photograph on the desired section and submit soft copies of all the documents listed. These include your ID and address proofs. According to Government rules, submit a photocopy of your PAN card.
Remember, select the Online Banking facility while filing the account opening form. Review the form and submit it
Bank evaluation
Once submitted the form, the bank assesses your application for opening the Saving Bank Account. This process takes between seven to 14 days. If your account opening request gets accepted, the bank informs you about the same through the e-mail address you mentioned on the account opening form. They ask you to complete the e-KYC process
Complete e-KYC process
Get done with the e-KYC formality where you provide a photocopy of your ID, address and PAN card and self-attest it. Once your e-KYC details are submitted, the bank assigns your account details in the mail. You get a login ID and password to your account, through which you can access and conduct other financial transactions. The bank also sends your account opening kit featuring your chequebook, passbook, and ATM and Debit Card via post.
Online accounts are ideal for modern-day customers. If you find them convenient and comfortable, you need not opt for traditional means anymore.
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