Opening a bank account online has become super easy these days. With everything going digital, many banks now let you open an online account without visiting a branch. The process is real quick, paperless, and takes just minutes to finish.
An instant online account opening allows you to open a savings or current account and start using net banking, phone banking, debit card and other services immediately. This makes banking smooth and hassle-free.
Let’s check out what documents you’ll need and the step-by-step process of instant online bank account opening.
Documents Required for Opening an Online Bank Account
PAN Card
The regular Permanent Account Number (PAN) issued by the Income Tax Department is a must when opening any bank account, online or offline.
Aadhaar Card
Your trusty Aadhaar card number enables smooth eKYC verification. Your personal information, such as name, birth date, and address, gets auto-fetched from UIDAI’s central database into the bank’s systems via your Aadhaar number. This makes documentation super easy!
Passport Size Photo
You need a recent passport-sized photo to use in the account opening form. Some banks may just ask you to take a quick selfie with your phone’s camera instead!
ID Proof
Standard identity proofs like Aadhaar, Passport, Voter ID, Driving License etc. need to be submitted as well. This is cross-checked against your PAN for authenticity.
Address Proof
To verify your residential address, you need documents like electricity, water, telephone bills, rental agreements, etc. Certain banks simply validate this via an OTP sent to your registered mobile number linked to the address.
Income Documents
The latest salary slips or Form 16 are sufficient for salary accounts. Proof of income, like last year’s ITR acknowledgement, suffices for savings accounts.
Registered Mobile Number
Your mobile number should be linked with your Aadhaar card to enable seamless OTP-based verifications, which are required at multiple stages in the online journey.
Step-by-Step Account Opening Process
Mentioned below are these online bank account opening steps:
Step 1: Visit the Bank’s Website / Download the Mobile App
First, you need to land on the official website of the bank you wish to open an account with. Alternatively, you can download their mobile banking app on your phone.
Step 2: Initiate the New Account Opening Process
On the website/app, look for tabs like ‘Open an Account’, ‘Start Savings/Current Account’ etc. and initiate the new account creation process with the preferred account type.
Step 3: Fill out the Online Application Form
An online application form pops up, where you must accurately fill in all your personal details, contact information, income bracket, employment information, etc. Recheck details before submission.
Step 4: Online eKYC verification
As soon as you submit the form, the online KYC process starts. Details from your Aadhaar, such as name, age, address, etc., are fetched electronically into the system paperlessly.
Step 5: Upload Mandatory Documents
Based on the bank’s requirements, you may need to upload scanned clear copies or images of documents like identity proof, address proof, passport photo, income documents, etc. Make sure that images are in the specified format and size.
Step 6: Account Activation
Once you have completed eKYC submission and document upload processes, your account will be opened instantly! Account details like account number, debit card details, net banking user ID & passwords are shared via email and SMS.
Step 7: Set Login Credentials
Using the login details sent, you must log in to net banking for the first time and set your username, password, and other security credential preferences, such as OTP delivery mode.
Step 8: You’re all set!
That’s it! Your bank account is active. You can now access mobile and internet banking instantly, shop online using your debit card details shared and do so much more digitally!
Conclusion
Online banking has transformed account opening and management for good. eKYC, paperless onboarding, and intuitive mobile apps have made documentation and processes easier than ever.
So, next time you need to open an account or switch banks, scan documents online and fill out forms on the website or app from the comfort of your home. You’ll be banking-ready in minutes!
