A Complete Guide to Choosing and Opening a Savings Account Online

By Shekhar, Content Writer  |  Monday, 04 July 2022, 01:02:23 PM IST

A Complete Guide to Choosing and Opening a Savings Account Online

When it comes to banking and managing your finances, a savings account is the first thing that comes to mind. As the name suggests, a savings account serves as a safe place to deposit your savings and see them grow with the help of a modest interest rate. Today, opening a savings account is not a hassle anymore. You can open an online savings account from the comfort of your home within minutes. If you have been planning to apply for a bank account online, read on to get the complete lowdown on how to choose and open an online savings account.

How to Choose an Online Savings Account

Several reputed banks in India offer an online savings account today. Before you actually opt for an online savings account, it is important to compare the different banks and find one that best answers your needs in terms of savings account interest rate, balance requirement, service fees, and banking facilities. Any online savings account you choose should be characterized by the following primary features:

  • Simple documentation and easy application process
  • Easy eligibility criteria
  • Instant opening and Processing
  • Negligible service fees
  • Zero or minimal balance requirement
  • Swift issuing of virtual debit card
  • A relatively high rate of interest on the savings account
  • Access to the full range of banking services
  • Attractive offers in the form of cashback, deals, reward points, discounts, etc.

How to Open a Savings Account Online

Opening an online savings account is easy. Here are the basic steps involved in opening a digital account:

  1. Visit the website of the bank or account provider you have opted for.
  2. Fill out the online application form mentioning your details.
  3. Submit your PAN Card, Aadhar Card.
  4. Once your verification is complete, you are generally required to make an opening deposit with the help of a debit card or account linked to an existing bank account.
  5. You may now begin using your brand-new account!

Among the crowd of options, one of the best, most customer-friendly online savings accounts today is the Indus Delite Savings Account by IndusInd Bank. Along with being equipped with almost all the primary features mentioned above, the Indus Delite Savings Account comes with sweeping benefits such as the chance to earn reward points, get cashback on shopping, free movie tickets, discounts on dining, and complimentary insurance cover. Additionally, it promises a smooth banking experience with innovative options such as fingerprint banking to banish the problem of forgetting passwords, having an account number of your choice, and the facility to automate recurring payments.

Now that you know everything about online savings account opening, it is time you opened and used one to enjoy its myriad advantages!

 

 

 

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