Funds are a saviour in every life, like emergencies, as they solve most of your problems by making you financially stable and independent. You escape the burden of borrowing money from relatives and landing in debt owing to low repayment capacity. Save money today for a brighter and more secure future.
Banks encourage customers and citizens to open a Saving Bank Account to store funds and access them anytime. You benefit from the interest on the idle funds in the account and flexible usage. You also invest in other banking products like Mutual Funds, Deposits, and government schemes for earning higher returns.
Procedure
Digital technology overtook manual processes, thus reducing frequent visits to the bank for minor tasks, such as fund transfers or checking account balances. Now, operate your finances with a few taps or clicks on your smartphones and PCs. Follow these steps:
Visit the app
For an online Saving Account opening, you need access to the Banking app or the bank portal. Enter your mobile number, upload the documents, and fill out the application form to initiate the process. Likewise, you escape frequent visits to the bank and the complicated paperwork involved.
Documents required
Regardless of which method you choose, provide certain documents as proof while opening the account. These include your Aadhaar card, passport, driving license, PAN card, Form 16 (if no PAN card), and two passport-sized photographs.
Video KYC
For an online Bank Account, own a camera and audio enabled device. Once they notify you of your KYC process appointment details, ensure that the documents are in the digital form or available on DigiLocker. You receive a video call link on your phone or email from an executive conducting the KYC. Answer basic details such as your name, birth date, Aadhaar details, etc. The executive captures your live photo and scans the KYC documents.
Bank documents delivery
The Welcome Kit sent to the customer is enclosed with a welcome letter, cheque book, and other details. You can open a joint account with the bank where both account holders receive the respective documents for individual operations. Download the app for ease of access.
Access full banking features
You are a few clicks away from conducting high-value transactions with Digital Banking. Whether you wish to check your account balances or the latest transaction statements, do it by logging in. Initiate fund transfers to payees in India and abroad and avail preferential currency rates on international fund transfers.
Conclusion
Technology and banking have progressed. With the rise in smartphone users, everyone relies on apps for completing transactions. It is a clever move, slowly gaining the customers’ trust in India.
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