In every household, the round table conference at the end of every month is always about discussing saving options. What can be the basic option of savings? Having a bank account. Off late, having a savings bank account has become important in India.
The Jan Dhan Yojna by the Government of India allows you to open a bank account with zero balance too.
There are several benefits that one is bestowed upon by opening a bank account.
- The most common among all is you become a part of the giant financial system that India is.
- You will be able to enjoy the financial freedom as you can seek personal, educational, or agriculture loan from the bank.
- You will be free from the trap of the local financiers, who charges hasty interests
- Moreover, you will receive free insurance coverage with bank account for the family
- With the cheapest possible premium, you can secure your crops with banking insurance products
- Connecting Aadhar Number with your bank account ensures direct government benefit transfer to your account
- You can enjoy better interest rates for your savings and deposits
- You can withdraw your money from anywhere and anytime with an ATM card
- Enjoy minimum interest rates when you need financial assistance from the bank
These are only a few benefits that one can enjoy with the government opening the financial doors for every citizen of India in order to achieve a greater financial inclusion.
However, until now, opening a bank account was a cumbersome process. One needed to submit numerous documents to the bank to open an account. Plus, banks ask for a minimum amount to be deposited with the bank.
The scene has changed now. You need minimum documents and you can have your zero balance bank account ready for you. Moreover, you can apply for your bank account online and a bank representative can help you in opening your bank account.
The traditional offline method, where you have to go to the bank fill up a form and submit some of your documents. The second way is the online bank account opening method. This has become a popular way since the hype of digitalization.
The most questions asked are related to bank accounts is what are the documents required for opening a savings bank account. So, we provide you a checklist of documents required to open an online or offline bank account.
Offline Bank Account Documents:
- Collect the savings bank account opening form from the bank. Fill in your details.
- Aadhar Card
- Identity proof: Voter’s Id or Driving License or Passport
- Address Proof: Voter’s Id or Driving License or Passport
- 2 Passport size photographs
Online Bank Account Documents:
- Downloaded form of savings bank account with complete details
- Aadhar Card
- Identity proof: Voter’s Id or Driving License or Passport
- Address Proof: Voter’s Id or Driving License or Passport
- 2 Passport size photographs
This would have cleared your doubts on what documents you require in order to open a savings bank account. And now that you know the benefits along with the checklist of documents, you can easily open your savings bank account.
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