How to open saving bank account – step wise procedure
When you enter the world of money, get your first job or income from any source then you need bank account to make saving. In your childhood you may have used the money box made up of sand or plastic to make saving. Similarly, now you can use bank account to make saving. Gone are the days when you used to get your salary from employer in form of cash. Now your employer need your bank account number to make your payment of salary. Most of the companies ask you for saving bank account for crediting salary. You get the salary in your bank account at a fixed date of the month. If it is holiday on your salary day, some companies credit the salary to their employees on working day before holiday. So it has become very convenient to get the money or salary by just giving the account details along with IFSC Code.
Why Should I Open Bank Account
Now the question will come in your mind why should I open bank account ? Here we have answer to your this query also.
A Saving Bank account helps you to keep your money safe with advantage of interest over it by bank.
It make your habit of saving. If you have cash you may spend it.
There are more such benefits attached with it as you get various facilities by bank like – Internet Banking, ATM cum Debit Card, Credit Card, Immediate Payment Service (IMPS) etc.
There are different type of bank account available – read here about different type of bank accounts.
Firstly you need to open saving bank account.
The money is directly deposited or credited in saving bank account. It is open account & you can deposit or withdraw money freely in this account. You need to maintain a minimum balance as per bank mandate.
How I can open bank account :
The account opening process is quite simple. Just visit your nearest bank branch and ask their representative to open saving bank account.
You will get a complete saving bank account opening form. Fill all the details like your name, father / guardian name, address, date of birth, gender, occupation, communication address, mobile number. After filling all these details, put your signature on appropriate place. Note : Always keep in mind what signature you are doing, as you need to do the same in future for operation of your bank account.
Deposit the initial amount in form or cash or cheque.
Choose alternative facilities :
There will also be options of choosing facilities like –
- Internet Banking
- Mobile Banking /IMPS
- SMS Alert Facility
- Cheque Book
- Account Statement by Email
- ATM etc.
Almost all banks offer these facilities, we advise you to opt or avail these all facilities. As some bank offer insurance also on ATM cum debit card.
Going for shopping, instead of carrying bulky amount of cash in your pocket, carry light weight plastic card and swipe the card to pay for goods.
With Internet banking facility, you can easily operate your bank account from home over traditional ways of banking (filling of cheque, slips) with ease of without visiting the bank branch.
ATM cum debit card saves a lot of time as if you need to withdraw money, use ATM for 24×7 hrs anytime.
Steps by Step Procedure to open bank account :
- Get Saving Bank account opening form.
- Fill up the General Details & provide your KYC documents or details
- Affix Your photograph on application form an
d also submit the ID and Address proof as your KYC Document.
- ID proof : Pan Card, Passport, Aadhar Card
- Address Proof : Passport, Voter ID Card, Aadhar Card, Utility Bill or rent agreement.
- Bank official will verify your Xerox copy of ID and Address proof with original.
- He may ask you to self attest the photo copy of KYC documents. Just sign on Xerox copies.
- Also Put your signature on application form wherever you are asked to do.
- Deposit the initial amount of money.
- Note : You should also fill the nomination detail which will help you to counter unforeseen situation.
After Opening of Bank Account, you will be issued with Welcome Kit having your Bank account passbook, Cheque Book, ATM etc. you may either receive it in branch or it will sent to your communication address.
Today in the world of modern technology, banks have also modernized the ways of opening bank account. Now you can also get your bank account number instantly on your mobile with selfie bank account application. See here which banks have launched the selfie bank account application.