A savings account helps you deposit and withdraw money at any time and earn interest. It is a vital tool in your financial arsenal that opens the door to other products. Today, you can open a savings account online. The procedure to open a savings account online is straightforward and includes hassle-free online documentation. You can open an online account from the comfort of your home.
How to open a savings account online?
- Evaluate the type of savings account you want and download the app
To open a savings account online, review different savings accounts and select the preferred one. Similarly, review various savings account mobile banking apps for Android or iOS to check their interface and features.
IDFC FIRST Bank’s digital banking account is a completely online via web browser and app-based process you can consider for your savings account banking needs and much more. The allows you to view spends in one place and receive reminders for payments.
- Fill out the online savings account opening form
Once you log in to the app, you must fill up the online form. Provide your name, address, mobile number, etc., while filling out the form.
- Submit scanned copies of your documents
Submitting savings bank account documents is the third important step in opening a savings account. You must provide your scanned and self-attested documents. Necessary documents required are:
- PAN card or form 16
- One ID proof document – passport, Aadhaar, voter’s ID, driver’s license, etc.
- One address proof document – passport, Aadhaar, voter’s ID, driver’s license, rental agreement, etc.
- Two current passport-size photos
- A copy of your digital signature
Ensure to provide the necessary documents required for opening the savings account to open the account conveniently.
- Complete the digital KYC procedure
The bank authenticates your documents through a video call on your provided mobile number. A bank representative will call you to help you complete the online video e-KYC procedure. Here, you must provide access to your location, to the camera, and turn on your phone’s microphone.
- Explore your online savings account
After completing your eKYC procedure, the bank will start your account opening process. Once your savings account is active, the bank will assign you an account number and other details via email.
Upon receiving your account details, you can now start depositing your funds. Also, you can create an internet banking account and begin with your fund transfers. Within a week, you may receive your savings account’s ATM debit card and free chequebook at your registered address.