How to Open a Bank Account in India

How to Open a Bank Account in India

Here we are introducing an article, which is dealing with the subject: how to open a bank account in India? Our article contains all the necessary steps and procedure for this purpose. Banks are helping us to manage our financial transactions. It is very easy to open an account. There are more benefits to open an account such as keep your money safe, multiplies it by getting interest etc. If you are going to open an account, check our article. We hope that this will help you.

how-to-open-a-bank-account-in-india

Steps to Open a Bank Account in India

  • There are more variants of account such as Fixed Deposit Account, Current Account, Saving Account, Recurring Account. First, you need to decide which type of account you want to open. Then, visit your nearest branch of a bank and tell them that you want to open a bank account. 
  • The bank officer will give you a form, which includes some details such as your name, address, contact number, date of birth, gender, occupation, communication address etc. You have to fill up the form and affix your snap.
  • Next, give your Know Your Customer (KYC) details. Then, submit the form along with your photo identity proof ( PAN card/ passport/ Aadhar card) and address proof ( passport, Aadhar card, voter’s ID, ration card ). You have to give the details about your first deposit. There are two or three signatures needed. The form should sign jointly only if the account is opened in joint type.
  • Next, submit copies of your latest photograph for identification. You will get free debit-cum-ATM card linked to your bank account. There are more option to you for operating your account such as internet banking, mobile banking and the traditional method of drawing cheque and filling slips books. You need to choose best option while filling the form.

After filling the form, the Bank officer will check the form and documents. He will clear the proposal form only he is satisfied. Then, you have to deposit some money in your account. In the case of savings account, you will get a passbook, pay in slip book and a cheque book. A passbook and a pay in slip book will provide in the case of recurring account. A fixed deposit receipt you will receive for fixed deposits. A cheque book and a pay in slip book will get in the case of current account.

Two things you should keep in your mind when open a bank, it is better to open an account in joint type. Choose someone you can trust well as your nominee. The nominee will receives all the money if you die and responsible your financial transactions on behalf of you. Always provide full details of the nominee. 

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