How to open bank account. What are the documents required to open an account?
Opening a bank account is one of the fundamental requirements for managing your finances. It is a straightforward process that can be completed in a few steps. In this article, we will guide you through the process of opening a bank account in India.
Types of Bank Accounts
There are several types of bank accounts that you can choose from based on your financial requirements. Some of the common types of bank accounts are:
Savings Account
A savings account is an account where you can deposit your money and earn interest on the balance. It is ideal for individuals who want to save money for their future needs.
Current Account
A current account is a type of bank account that is primarily used for business transactions. It is ideal for businesses that need to make frequent transactions.
Fixed Deposit Account
A fixed deposit account is an account where you can deposit your money for a fixed period and earn interest on the balance. It is ideal for individuals who want to earn a higher rate of interest on their savings.
Documents Required
To open a bank account in India, you need to provide the following documents:
- Identity proof such as an Aadhaar card, PAN card, Voter ID, or Passport
- Address proof such as an Aadhaar card, Passport, Driving License, or Voter ID
- Recent passport-size photographs
Steps to Open a Bank Account
Follow these steps to open a bank account in India:
- Choose the bank where you want to open an account.
- Visit the bank branch where you want to open an account.
- Ask for the account opening form and fill in the required details.
- Submit the form along with the required documents.
- Your documents will be verified by the bank officials.
- Once the verification is complete, your account will be activated, and you will receive your account details.
How to open an account in an offline bank
In whatever bank you want to open your account, you have to go to the nearest branch of that bank and get the application form.
There is no fee for this form. But in order to open an account, you have to deposit some money. All these are different from bank to bank, for example, if you open an account in HDFC, then here your account opens in 10 thousand rupees (the year 2023).
After taking the form, you have to fill in all your personal information in it, whatever has been asked of you.
You must always use a blue or black pen to fill out the form.
After filling in all the information, you have to put your signature wherever you have been asked to sign.
After this, some of your documents will also be asked from you, which you should attach to this form.
After filling out the form completely and attaching all the documents with it, get the bank employee checked once.
Before submitting the form, you must also ask about the process of getting the ATM and checkbook.
After this, you submit your form to the bank. Your account will be activated within 24 hours.
Bank Name
Account Opening Form
HDFC Bank
https://www.hdfcbank.com/personal/save/accounts/savings-accounts
Axis Bank
https://www.axisbank.com/retail/accounts/savings-account
Bandhan Bank
https://bandhanbank.com/personal/savings-accounts
Bank of India
https://www.bankofindia.co.in/Details/accountform
BOB Bank
https://www.bankofbaroda.in/personal-banking/accounts/saving-accounts
BOM Bank
https://bankofmaharashtra.in/savings-account
Canara Bank
https://canarabank.com/User_page.aspx?menulevel=1&menuid=1&CatID=1
Federal Bank
https://www.federalbank.co.in/savings-accounts
ICICI Bank
https://www.icicibank.com/personal-banking/accounts/savings-account/insta-save-account
IDBI Bank
https://www.idbibank.in/super-saving-account.aspx
IDFC Bank
https://www.idfcfirstbank.com/content/idfcsecure/en/open-savings-account-online.html
Indian Bank
https://apps.indianbank.in/onlinesb_new/
Indus Ind Bank
https://www.indusind.com/in/en/personal/accounts/saving-account.html
Karnataka Bank
https://karnatakabank.com/personal/savings-account/kbl-xpress-sb-account
Kotak Bank
https://www.kotak.com/en/personal-banking/accounts/savings-account.html
PNB Bank
https://www.pnbindia.in/saving.html
Post Office Bank
https://www.ippbonline.com/web/ippb/saving-account
RBL Bank
https://www.rblbank.com/category/savings-accounts
SBI Bank
https://sbi.co.in/web/personal-banking/accounts/saving-account/savings-bank-account
UBI Bank
https://www.unionbankofindia.co.in/english/saving-account.aspx
Yes Bank
https://www.yesbank.in/personal-banking/yes-individual/savings-account/digital-savings-account
Benefits of Having a Bank Account
There are several benefits of having a bank account, such as:
- Safe storage of money
- Earning interest on the balance
- Online banking facilities
- Easy transfer of money
- Bill payment facilities
Conclusion
In conclusion, opening a bank account is a simple process that can be completed in a few steps. It is essential to choose the right type of bank account based on your financial requirements. We hope this article has helped you understand the process of opening a bank account in India. If you have any questions or need further assistance, please feel free to contact us.