5 simple steps for opening an online Bank Account

Money is precious for each one of us. We work hard to earn it but forget to save it for the future. Banks provide us with many facilities to deposit, withdraw, invest, and save funds whenever required with Bank Accounts. They are a priority nowadays, with the rise in online bank transactions and investments.
A Savings Account is a basic one where you can deposit the extra income while earning interest on it. The earned interest gets credited automatically to the account every three months. You manage your finances effortlessly. Follow these steps:
Select a bank
Walk around your locality, approach banks, and ask them about their account offerings, benefits, and interest rates in detail. Or else, open a browser on your mobile phone, type Digital Banking, and get access to a wide range of apps. You can select the bank depending on their services and high-interest rates, beyond 4%.
Download the app
After selecting the bank, download the Banking app and follow the instructions for opening an account. Check the initial deposit amount, documents, and eligibility before proceeding. With the help of the app and an active data connection, you can access your account and transactions seamlessly from anywhere.
Choose the product
A bank provides plenty of accounts and services which you can choose according to your needs, like Savings and Current Accounts, Fixed and Recurring Deposits, Senior Citizen Accounts, etc. You are also allowed to compare the products with other banks for making an informed decision and getting the best services.
Information and documents
Every bank requires some customer information and proof in the form of documents. You need to submit identity and address proof along with the account opening form, including the Aadhaar Card, PAN Card, Passport, Driving License, bank statements, and salary slip from the employer. Once you submit these documents for opening a Bank Account, the bank verifies them and conducts the process online through E-KYC.
Agree to the terms
Before signing the documents, you must read everything carefully and contact the concerned person to resolve your queries. With online forms, you save the hassle of excessive paperwork and get immediate assistance. You can also open Instant Accounts with minimal paperwork and operate them on your smartphone.
Important points
With an online Saving Account opening, you save time, energy, and frequent commutes to the bank branch. Whether you are in India or travelling abroad, you can check your account status immediately and send funds to your loved ones in emergencies.
Whether you are opening an account physically or through Internet Banking, ensure you add a joint account holder, which can be your parents or spouse for security. The bank sends you the login information on your mobile number and email along with the ATM or Debit Card, chequebook, passbook, and other documents through the post at your doorstep.