Do you know that you can open a savings account without visiting the bank? Read ahead to learn about the steps involved in opening an online savings account.
The steps to open a savings account online are fairly simple and straightforward. They are mentioned below -
Keep all your documents scanned and ready to be uploaded when required. Visit the bank's official website where you want to open your account.
Go to the ‘Personal’ section and click on the ‘Accounts’ tab. Choose the type of account that suits your needs.
You will see a button saying ‘Apply Now’ or ‘Open Savings Account Instantly’ depending on your bank’s website. The website will guide you based on their own method which may vary depending on the bank you choose.
In general, you will first need to give basic details like your name, date of birth, and Aadhaar number.
Authenticate yourself or complete your KYC as directed by the website.
Enter your contact details to complete your profile. This will include your address, contact number, city, state, and PIN code.
Finally, upload the necessary documents and click on ‘Submit’. You will receive a request ID on your number which will help you track your application. You will receive the details of your new bank account shortly.
You might need to visit the bank with the received ID, your documents, and your mobile to complete the process of account opening. It is necessary to make an initial deposit in your new bank account as well, which can be done online or in person.
You need minimal documentation nowadays to open a savings bank account as your KYC can authenticate you beforehand. Here are the basic documents that you will need before you search for ‘how to open saving account online’ -
Aadhaar number, linked to your mobile
PAN card (optional)
Scanned image of your signature (might be asked to upload, depending on the bank)
Copy of address proof (to be submitted at the bank branch)
Copy of identity proof (to be submitted at the bank branch)
Colored passport-sized photograph (to be submitted at the bank branch)
The benefits of having an online savings account are manifold. Here are a few of them -
Ease of account opening
No need for heavy documentation
No need to visit the bank and/or wait in a queue
Can be accessed 24X7, even on holidays
Cheque book and ATM card delivered to your home
When you open a savings bank account, these are the additional services or products that you get -
Personalized cheque book with your name printed
ATM Card or Debit Card
Access to internet banking or mobile banking
Benefits like discounts and cashback on select products and services on using cards of some banks
Interest on money kept in your account
In today’s time, having a bank account makes your life much easier. You can withdraw cash on the go, or use debit cards to make payments directly. It also lets you spend money directly by scanning any QR code, if you connect it to your favorite UPI app.
Banks offer a myriad of services as well as help you keep track of your spending. In fact, if you are searching for ‘how to open saving account’, you can do it both online and in person.
If you get your income directly in your bank account, you can also be eligible for a moneyview personal loan. You can get the funds from your loan directly in your bank account within 24 hours, after submitting the loan agreement. To know more, visit the moneyview website or download the app.
Yes, you can open a savings bank account in SBI through the online process. Just visit the SBI official website to know more.
Yes, most banks that offer a zero balance account, offer an ATM cum Debit card along with it.
Almost all banks offer services to open online savings accounts. The most popular banks are State Bank of India, HDFC Bank, Kotak Mahindra Bank, ICICI Bank, and Axis Bank. For a more detailed comparison and selecting the best bank to open an account in 2023.
You can have a bank account in Canara Bank with a minimum balance of Rs.1,000 if you are from a semi-urban region in India.
Thank you. Your feedback is important to us.