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How To Open A Savings Account Online

by Terrell McGuire (2020-01-11)


Every bank customer is different and so are his banking needs. But one thing remains common to all of them; all of them require a savings account. Yet, every customer can choose a different kind of account, when it comes to parking their savings. Some prefer an account that does not require them to maintain any balance (zero balance account), whereas some prefer to earn higher interest rates (senior team building citizen's), some families prefer to have a single account (joint) while there are some accounts that offer special privileges (women's & minor account etc.). These days, most banks allow you to open your accounts online. Find out how you can do so and what documents you need to submit.

How to open a savings account online?

Just like everything else, banking too has gone digital, making it possible for customers to open a bank account online. It is the simplest way to conduct banking transactions. This is how you can go about it.


Research the different banks, find out the interest rates offered and finalize the one that best matches your requirements as well as the type of account (current, savings, recurring deposit) you wish to open.

Log on to the specific bank's website in which you want to open the account. Note that not all banks in India offer you the facility to open bank accounts online. You can open savings account online with banks like Axis Bank, Kotak Bank, Citibank, team building DIGI Bank by DBS, t? ch?c team building ICICI etc.

Choose the type of account that meets your requirements and fill out the application form. You must submit these with a digital copy of some necessary documents, mentioned below. Some banks even send over their executives if they require you to furbish physical copies of your documents.
The bank's back-end team building will then verify your details and you shall be able to start operating your account instantly.

Documents you must submit while opening your savings bank account online

Here is a list of documents that the bank will verify in order to open your savings acc. These documents must be submitted along with your application form.


Identity and age proof: The applicant must submit a government recognized and registered document which contains his/her full name along with a recent photograph. You can submit one of the following documents for this purpose

PAN Card

Passport

Driving Licence

Voters ID

Photographs: Most banks ask for at least 2 passport sized photographs to be submitted with your application.

Address Proof: The applicant must submit a government recognized and registered document which contains his/her full name along with a recent photograph. You can submit one of the following documents for this purpose

Driving License

Passport

Voter's ID

Electricity/ Telephone Bill
Depending upon the type of savings account you wish to open, you must submit additional documents like employment proof, senior citizen card etc.

Log on to the specific bank's website in which you want to open the account. Note that not all banks in India offer you the facility to open bank accounts online. You can open savings account online with banks like Axis Bank, Kotak Bank, Citibank, DIGI Bank by DBS, ICICI etc.



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