A savings account is a very common service offered by several banks globally. With a savings account, you can achieve goals like managing your wealth for the future or managing day-to-day expenses.
What is a savings bank account ?
A savings account is a basic account in a bank where you can deposit your extra income while gaining interest on the same depending on the saving account interest rate. The interest earned gets credited automatically to your account every year on quarterly basis.
A savings account is very helpful to manage your finances effortlessly. To open a savings account is a simple task that merely takes few minutes. Besides, most banks have the same procedure. If you are interested to open a savings account, here we are with detailed steps for you.
You can open a savings bank account in two methods:
You can directly apply in person in the bank you desire. It is a simple way as you will get seamlessly assisted by the bank employee, who is specifically dedicated to this job.
Alternatively, and most conveniently, you can quickly apply online. Yes, this step is also very easy and saves a lot of time. For opening Savings Account online, all you need is a mobile number for initiating the process. One just needs to submit the application and attach documents online instead of going to the bank yourself.
Here is a quick guide on how to open a Savings Account online in Union Bank of India:
Following are the pre-requisites for opening of the account through online mode.
- Aadhaar card
- Mobile linked to Aadhaar for OTP
- PAN card
- Recent scanned image of photograph-Size Up to 1 Mb
- Scanned image of address proof of address (POA) -Size up to 1 Mb
- Scanned image of Proof of Identity - Size up to 1 Mb
- Signature scanned Size up to 1 Mb
- Mobile to be carried in person to branch for OTP verification while account opening.”
So are your ready??? Visit our corporate website Union Bank of India
Digital Banking→ Self Service Banking→Online Account Opening → Saving Account → or click here to open your saving account Online
Fill all the mandatory detail and upload the document. On Saving the Application, a reference number is generated, and SMS is sent to the mobile number entered in Applicant Details column. After that System prompts Customer to submit the Application form. After submission of Application, please visit the Branch with Unique reference number and the KYC documents as mentioned in the online application in originals along with photocopies and two passport size recent photographs for verification & submission.
Later, you just need to wait for the bank executives to complete the further official process of verifying the process.
After the completion of verification, you need to make some initial deposition in your new savings account; the initial amount can vary depending on the minimum amount required to maintain in the savings account. After this process, you will become the account holder. In the case of a zero balance Savings Account, there is no need to deposit any amount.
After making the deposit, the bank executives will provide you with a debit card and relevant documents. You can also apply online debit card .
Conclusion
And that’s it! With these simple steps and a few documents you can open a savings account seamlessly.
