You can open a savings bank account in minutes with your Smartphone. It’s really easy. You don’t have to stand in a queue at banks. The tech-savvy younger generation is uneasy. They do not rest. Banks are catering to this class of customers by offering facilities to open SB Accounts through banking apps. You can open an SB Account from the comfort of home.
What’s great about opening an SB account online? You can open a savings bank account in just 5 minutes. The entire process is paperless. But, there’s a problem. An account opened digitally has limitations and a full KYC is necessary.
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You can open a savings bank account online, if you have the Aadhaar and PAN Card. There is no need to furnish any physical documents. The only problem is the KYC. You may have to visit the bank branch for e-KYC verification. This is a biometric authentication and an update of your signature.
See Also: What is a savings bank account?
Most digital banking accounts do not have minimum balance requirements. Simple…You do not need to maintain a minimum balance in a digital savings account, which means 0 minimum balance charges….
You will have to visit the website www.sbi.co.in.
You must visit the bank branch within 30 days to complete the KYC. You must carry at least 3 photos and a copy of the PAN and Aadhaar to complete e-KYC. (e-KYC is biometric authentication and signature update).
Open an online bank account and stay connected with your account 24*7 through your mobile.
Many online savings bank accounts come with the virtual debit card. What is this virtual debit card? This is nothing but an electronic card, which works just like a normal debit card. It’s extremely safe and hassle free.
Shop online with your virtual debit card and enjoy a hassle free experience. Shopping with a virtual debit card is extremely safe. You can transact online, without giving the primary card to the merchant. Shopping with a virtual debit card is no different from a regular plastic card.
You can open a digi savings account at Kotak 811 (Kotak Mahindra Bank), Axis ASAP Zero Balance Account (Axis Bank), Digisavings (DBS), Aasaan Account (Standard Chartered Bank), Basic Savings Bank Deposit Account (IndusInd Bank), Pratham Savings Account (IDFC Bank), Abacus Digital Savings Account (RBL Bank) and FedBook Selfie Zero Balance Account (Federal Bank) where you can open a digi savings account with a selfie.
See Also: Interest Rate On Savings Account
You earn anywhere between 3.5-6% a year on a digi savings account. You can shop online, scan and pay at stores, transact online, access the auto-sweep flexi FD, transfer money, pay utility bills, enjoy unlimited free ATM withdrawals and the e-Wallet feature, get multicity chequebooks and access to Government subsidies.
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