Easiest way to open a Savings Bank Account

When it comes to a secure and safe way to save money, savings account have always been the chosen financial tool for many. And now, it has become even more lucrative thanks to the amazing offers, digital facilities, and better interest rate on savings accounts offered by institutions like Axis Bank.

Are you feeling even keener to open a savings account now? Read on to know more!

Benefits and features

Before you open your savings online account, you need to know the benefits and features that come with it:

• Customers can select among several types of savings accounts and go for the one that meets their financial goals and needs.
• The average monthly balance needs depend on where the account is held, i.e., in a rural, semi-urban, or urban area.
• Customers who have their savings account in a bank can withdraw money from any ATM all over the country.
• An account holder also gets the benefit of free digital banking and phone banking.
• Monthly e-statements are sent to customers for free to let them track their finances.

Documents required

You do not need to upload any document in order to be eligible to open your digital savings account. To open a savings account digitally, you will only need your PAN, Aadhar Card and Video KYC. Regardless of whether you are opening an account for yourself or jointly with your spouse, you will not need to upload any documents.

Easy steps to open a savings account

Given below are the easy steps to open a savings account. It is a lot similar to a Jan Dhan account online opening.

• Visit the homepage of the bank and click on the option saying ‘savings accounts.'
• Select a savings account that meets your financial goals and needs
• Submit all the documents as mentioned above.
• Next, you need to fill up the application form. Now, all the fields have to be filled in order to ensure that the application is not rejected. If you face any issue with filling the form, you can get in touch with a bank representative for further assistance.
• After the documents mentioned above are ready and the application form is duly filled, you will have to submit the form and the related documents.
• The bank will go over the documents to make sure that the name, address, date of birth, and more match the details mentioned in the application form.
• Based on the minimum balance guidelines of the account, you will have to make an initial deposit.
• Axis bank will also carry out a video KYC for which you will only need a webcam or even the camera of your phone.
• You will get all the necessary bank documents, including the debit card, at your address right after this.

And that's all! You are now equipped with all the necessary knowledge to open a savings bank account.