Finance

Steps to Easily Open an Online Bank Account

Opening an online bank account has now become quicker and easier than ever. Thanks to leading banks offering digital account openings, you can now sign up entirely online from home. Forget about lengthy paper forms and frustrating trips to crowded bank branches. Opening a fully-featured online bank account takes less than 15 minutes with just your phone or computer!

Follow this step-by-step guide to open your Indian online bank account seamlessly. 

Step 1: Choose An Online Bank in India  

Many reputable Indian banks allow online account opening today, including top private and public sector banks like:

  • IDFC First Bank 
  • Kotak Mahindra Bank
  • Bank of Baroda
  • State Bank of India 

As you compare offerings, check that the bank is regulated by the Reserve Bank of India (RBI) and insured up to ₹5 lakh per account holder. Also, consider free services, digital features, interest rates, and minimum balance requirements.

Step 2: Prepare Required Information

While filling out the online application form, ensure you have handy: 

Full name as on Aadhaar card

Active Indian mobile number

Email address

Aadhaar card number

PAN card number

Keep your Aadhaar card nearby, too for instant e-KYC identity verification.

Added info like employment status, income amount, or existing bank account numbers can quicken approvals too.

Step 3: Complete the Online Account Opening Form 

Visit your selected bank’s website or app and click on account opening to access application forms. Fill in all required personal, contact, and ID details accurately.

The digital forms take just 5-10 minutes to complete. Answer supplementary questions on preferred account types, features, or nature of transactions.

Triple-check entries to avoid verification delays later. Then, accept the terms and conditions and submit the form. Account approval happens instantly or within hours via seamless, paperless processing. 

Step 4: Online Aadhaar eKYC Verification

Per Indian KYC regulations, Aadhaar identity authentication is required when opening new bank accounts. Leading online banks simplify this via instant eKYC verification integrated into applications. Once you submit the form, it triggers the KYC check. Verify identity by entering the one-time password sent to your linked Aadhaar mobile. 

Alternatively, some banks use Aadhaar-linked biometrics for super quick fingerprint or face authentication. 

Step 5: Fund Your New Account

Account approval triggers automatically after eKYC verification. But you need to transfer money in to start using your new online bank account!

Through net banking or UPI apps, initiate an instant funds transfer into your new account from existing bank accounts. Transfer at least the minimum amount to avoid account closure.

Split initial funding between linked savings and checking accounts if opening both.

Step 6: Login Through Mobile App to Begin Digital Banking

Your online bank account is now fully activated and ready for digital transactions. Install your bank’s mobile app and log in using your credentials. Familiarise yourself with the intuitive app-based banking dashboard.

You can now:

  • Check real-time account balances
  • Transfer money via NEFT/RTGS
  • Pay utility bills online 
  • Access digital statements
  • Manage beneficiary list
  • Enable biometric logins like face/fingerprint unlock

The Bottom Line 

This guide makes quickly opening feature-packed online bank accounts in India a breeze. Simply provide key details digitally from anywhere without paperwork hassles, and get started with your savings today.

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