The main aim of a Savings Account is to enable you to save money. It is the most basic type of Bank Account you can opt for. Such an account lets you safely deposit your funds with a bank and earn interest at a particular rate on the money you deposit in this account. It also usually allows you to withdraw your funds anytime.

A Savings Bank Account offers multiple advantages, like providing access to a Debit Card that lets you conveniently access your funds and make purchases. It offers high liquidity, enabling you to access your funds whenever you want. It also acts as a reliable destination to receive money from various sources. Today, many banks let you open a Savings Account online.

Here are steps to follow to complete a Savings Account opening online in India, along with the perks of opening them online.

How to open a Savings Account online?

You could follow some basic steps to carry out a Savings Account opening online in India. These include the following:

• Go online

You could use a laptop or mobile phone to open a Savings Account online. You need certain documents. You also need to fill out an application form online. Some banks let you just use your mobile number to initiate the process.   

• Keep the necessary documents ready

You need to provide specific documents to open a Savings Account online. For example, your bank may require you to provide identity proof, address proof, and your PAN card or Form 16. You may also need your latest passport-sized photographs. So, keep such necessary documents handy when trying to open a Savings Account online.

• Use video KYC

Your bank may let you submit your KYC documents and verify yourself online via video call. You just need to offer access to your camera, microphone, and location. Once the verification is complete, your Savings Account will be opened, and you will be able to operate your new account.

Benefits of opening Savings Account online

The various benefits of opening a Savings Account online include the following:

• Opening a Savings Account is easy and quick. For example, you can choose to open an Insta Account. This instant Bank Account can be opened in minutes. You can also set it up in four easy steps with minimal documentation.
• With online account opening, you can open a Savings Account from anywhere.
• Since you can open a Savings Account online from anywhere, you do not have to travel to the bank or stand in long queues to open your account.

Conclusion

Now that you know the steps you need to follow, you can conveniently open a Savings Bank Account online.