A savings account is often the first product for an entry-level customer in Banking and is seen as the first step to becoming financially independent.
Reputable banks usually offer a set of comprehensive banking services along with a savings account that can help you invest and grow your money.
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Listed below are the documents you will require to open a savings account in India. Let's start with the documents you will need when you visit a bank branch to open a savings account.
Identity proof
Documents required for opening a bank account at a bank branch can be classified as identity proof documents, address proof documents, and other documents. Here are the documents that you can produce as an identity proof to open a savings account:
- Passport
- Driving License
- Voter ID
- Job Card issued by NREGA
- Letter issued by National Population Register
- Aadhaar card
Address proof
The second category of documents is related to the proof of address. You can submit any one of the documents mentioned below
- Passport
- Driving License
- Voter ID
- Job Card issued by NREGA
- Letter issued by National Population Register
Aadhaar card
Other documents
Here is a list of other documents that you may also need while opening a savings account:
- Form No. 60 in case you do not have a PAN card
- Passport-size photographs
Which bank gives the highest interest rates on savings accounts?
With IDFC FIRST Bank's savings accounts, you earn some of the highest interest rates in the industry, in addition to monthly interest credits and zero charges on over 25 commonly-used banking services. There are also relatively few documents required to open a bank account online. To open an account online with IDFC FIRST Bank, you need the following handy:
- Your Aadhaar number
- The mobile number linked to your Aadhaar number
- Permanent Account Number (PAN)
- A valid email address
Additionally, IDFC FIRST Bank's digital approach to banking can be seen in its easy-to-use mobile banking app, which offers a variety of ways to increase your savings.
In addition to accessing pre-approved loans and investing in your preferred avenues, you can also track your expenses via Money Manager to learn from your previous expenses. Faster online transactions and convenient features like "Auto Pay" are also some of the key features of the company’s banking app.
In addition to knowing the documents necessary to open a bank account, make sure you select an account that’s right for you. Evaluate the mobile banking app and other services offered by the bank to make the most of your savings account.
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