How to Open Your Bank Account Online?

Banks562 views


  • Open a bank account online instantly!
  • Choose the best bank for savings account.

Gone are the days when you had to visit the bank branch to open a bank account. From loans to investments and money transfer to account opening, everything is now accessible online because that’s what people prefer. The account opening procedure is almost similar for all types of bank accounts. Generally, ID proof and residence proof are required to open a bank account offline. In this article, we have brought in the details you need to mention when you open an account online.

What are the different types of bank accounts?

In India, there are different types of bank accounts where a person can put money. These are as follows:

  • Savings Account
  • Current Account
  • Salary Account
  • Pension Account
  • Fixed Deposit
  • Recurring Deposit

What are the types of Savings bank accounts?

There are various types of savings bank accounts as well which is subject to change from one bank to another and also on the basis of the requirement of the account holder. In general, the various savings accounts in India are:

  • Regular Savings Account: A common basic savings account used by an account holder following the basic terms and conditions of the bank.
  • Salary based Savings Account: These are normally opened by Companies for their employees, where the salary of the employees is transferred on a monthly basis.
  • Savings Account for Senior Citizens: These are similar to regular savings account, but offer higher rate of interest and certain privileges to senior citizens.
  • Savings Account with exclusive benefits to women: Few banks offer these type of accounts where exclusive benefits and features are provided to women.
  • Savings Account for minors: These accounts are opened by parents/guardians on behalf of their children.
  • Zero balance Saving Account: You are not charged any penalty on such account, if the balance falls below the minimum limit.
People Also Look For  SBI Becomes 1st Bank to Completely Replenish Rs100 Notes in ATMs

How to open a bank account online?

To open bank account online, you have to mention the below details:

  • Name
  • Email ID
  • Address
  • Mobile Number

Email ID and mobile number of the applicant is necessary as all the account related details such as bank statements, transaction details, account recovery information, etc. are sent to these. So, make sure all the information provided by you are correct and genuine.

Who are eligible for a bank account?

A person above the age of 18 years is eligible to open a regular savings account. For a current account, the person has to match the set criteria. In general, if you are 18 years old or above and have Aadhaar and PAN number, you are eligible to open a bank account.

What documents are required to open a bank account?

You only need to have Aadhaar number and PAN card number to open a savings account. For a current account, you need to have all the documents of your business and income proof.

Online Bank Account Opening with Zero Balance

Just like you can open a normal savings account, zero balance savings account can also be opened online. You can visit the official website of the bank and follow the process. The documents can be uploaded along with the scanned signature of the account holder.

How to open a Fixed Deposit or Recurring Deposit Account Online?

You can open a FD or RD account online within a few minutes. All you have to do is visit the bank you want to open the account with, mention the details required such as name of the account holder, email ID and mobile number, investment amount, and lock-in period.

Personal Loan Interest Rates November 2018
Bajaj Finserv10.99% - 16.00%
Fullerton India14.00% - 33.00%
HDFC Bank11.25% - 21.50%
ICICI Bank10.99% - 18.40%
IndusInd Bank10.99% - 16.00%
Kotak Bank10.99% - 20.99%
RBL13.00% - 18.00%
Standard Chartered Bank12.00% - 17.00%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates November 2018
State Bank of India/SBI8.70% - 9.25%
HDFC8.80% - 9.60%
Bank of Baroda8.65% - 9.65%
LIC Housing8.70% - 9.05%
PNB Housing Finance9.00% - 13.00%
ICICI Bank9.00% - 9.25%
Axis Bank8.80% - 9.05%
Citibank9.00% - 9.85%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank8.90% - 8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 14.00%