3 Easy steps to Open an Online bank account

Posted by Shaheen Shaikh on December 20th, 2018

Open a savings account without filling out any paper forms and visiting the bank branch – with an online bank account!

The Internet has veritably ushered in an age where everything that one needs is instantly available at the press of a button, 24/7. Whether it is information or booking movie tickets, streaming a movie on your commute home or simply group chatting with friends on WhatsApp, the Internet provides instant connectivity like never before.

Leading banks in India are leveraging the power of the Internet to offer seamless connectivity and all their products and services online. As a result, you can now open an online bank account in just a few steps, without stepping into the bank branch or filling out reams of paperwork.

From start to finish, the entire online bank account opening process is done over your computer or smartphone. You can open an online bank account in just 3 steps, as outlined below:

1 Open your bank’s website or app and look for account opening. Your bank will have the account opening process all mapped out on its website or smartphone app – simply log on and look for it under ‘Accounts’. Leading banks have as many as 8 types of savings accounts to choose from, so take your time reading up on each and selecting the right one. Once you decide which account best suits our needs, proceed to online bank account opening as directed.

2 Initiate the process of online bank account opening. The bank now presents a small application form in which you must input the details asked for: Name, Age, Gender, Residential Address, Mobile Number and Email ID. Hit ‘Submit’ after filling this form. The bank now processes this preliminary information before sending you the final application form. Do note that the bank can now contact you directly at this point onwards when you give your mobile number. Fill out the application form and make a note of the documents you need to attach with it. Also upload a latest passport size photograph of yourself to link in the form as instructed. You will need to upload personal ID proofs (age, residential address, PAN, Aadhaar) and income proofs (if salaried or self-employed).

3 Get approval and start using the account. Your bank will now process the application form and verify the information provided in it. This will take a maximum of two days, barring bank holidays and weekly off that occur during this time. You can use the tracking number your bank provides to check the application status. Once approved, the bank notifies you that the online bank account is now operational, and you will be sent a welcome kit at your address. You can also ask for net banking credentials once the online bank account opening process is complete.