Opening a bank account online is extremely easy. Whether you wish to open a Savings Account, a Current Account, or a Fixed Deposit, the experience is seamless and convenient. With just a few taps, you can complete the entire process from the comfort of your home.
But to make it a smooth experience, you need to have the correct documents with you. This guide will inform you of what you will need to have so you can proceed without any hassle.
Why are documents needed for online account opening?
When you opt for online account opening, the bank’s objective is to verify your identity, address, or any such relevant details. This is done for regulatory purposes and more so for security reasons. Thus, submitting the essential documentation without issues allows the bank to validate and activate your account.
Essential documents needed for online account opening
Below is a quick checklist of the major documents you are likely to need:
1. Proof of Identity (POI)
A valid proof of identity that identifies you. You can provide any of the following:
- Aadhaar Card
- PAN Card
- Passport
- Voter ID
- Driving Licence
Be sure the document is valid and not expired. Some banks may ask for either a scanned copy or a clear picture of the original document.
2. Proof of Address (POA)
It verifies your address. Commonly accepted ones include:
- Aadhaar Card (if not used as POI)
- Passport
- Utility Bill (Electricity, Water, Gas, or Telephone) – in the last three months
- Rent Agreement (if applicable)
- Voter ID
- Driving Licence
The address on the document must correspond to the one you are providing in the application.
3. PAN card
A PAN (Permanent Account Number) card is mandatory for almost all financial transactions, from depositing money in the bank to opening a bank account, and for compliance concerning taxes. If you do not have a PAN, some banks may let you apply by submitting Form 60; however, we always recommend getting a PAN to avoid any hindrances in your banking operations.
4. Passport size photograph
Most banks will ask for a passport-size photograph, preferably one taken recently, for their records. If you apply online, you may be asked to upload a digital copy.
5. Signature proof
For identification purposes, banks often ask for your signature scanned images, which assists in signature verification for your future transactions.
Additional documents (If Any)
Depending on your account from which additional documentation may be required:
- For salaried: Your salary slips will serve as proof.
- For self-employed: You may be asked for business registration/personal GST certificate/income proofs.
- For senior citizens: Proof of age, such as a birth certificate/pension order, may be required for some best accounts.
- For students: Student ID or proof of admission may be important.
- For NRI accounts: Generally, a passport or visa details with overseas verification.
How to upload documents online?
Most banks allow the upload of scanned copies or clear photos of your documents directly from their website or mobile app. Among other things, remember:
- Documents have to be clear and easily readable.
- File formats should reflect the banks’ requirements (PDF/JPG/PNG).
What to Remember?
- Ensure that all the details of your documents correspond with the details given in the application.
- Record both electronic copies and hard copies, which are handy in case any verification calls up.
- Some banks also render verification over a video call (video KYC), where you have to show your original documents.
Final Thoughts
Online account opening will become easier when proper documents are in the way. Following the checklist can quickly complete your application with no time wasted, allowing you to reap the fruits of digital banking immediately without any delay.
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