You don’t have a bank account yet? You could have participated in Govt’s massive initiative under Jan Dhan Yojana and open your first bank account without any hassle. But nothing to worry, as opening a bank account is very simple these days.
Latest Changes in Rules: As per latest news Govt has allowed post-paid mobile bill, piped gas bill, electricity bill, water bill as proof of address while opening any bank account and other financial institutions.
Gone are the days, when people have to worry about filling application forms, collecting the mandatory documents to open a bank account? But now a day’s one can even open a bank account online without visiting in any branch. Not only that private banks like ICICI Bank has started tablet banking, in which bank people will come to your place and collect necessary documents.
Documents required opening a bank account
Generally for any sort of account opening process 2 documents are must. One is photo identity proof and another is address proof. Now in our country there are various documents which hold these 2 information to provide. But as per institutions, one has to provide specific document.
Besides that KYC or Know your customer is the new term added in this process. KYC is a must to do now a day’s for any sort of account opening process. Let’s list out in a simpler way the documents required while opening your first bank account.
|ID Proof||Address Proof||Process Requirement|
|Photo PAN card , Passport, Driving license, Voters Identity card, Employee ID card, Bank pass book||Aadhar card, Passport, Vehicle registration number, Passbook, Utility Bills (Electricity bill / Gas connection / Telephone bill) not older than three months etc||PAN number, Age proof for minor (Birth certificate), Senior Citizen Card issued by State/Central Government|
These are the documents mostly accepted by all banks. But still you can ask specifically in case they need something extra which is not mentioned here. Remember one thing, PAN card is a must for any sort of account opening or transaction related activities. So, keep it with you always. If you don’t have a PAN card yet, then why don’t your apply and get a PAN card in 48 hours?
Why you should open a bank account immediately
I don’t think, I have to explain in detail why you need a bank account to manage all your financial decisions and also enjoy many Govt. schemes launched recently. Let me share few of the benefits below
- Deposit all your hard earned money in a secured place.
- You can put your money and enjoy a max 6% interest from a selected banks on your savings account.
- You can open a fixed deposit or recurring deposit account online without visiting any bank
- Avail Govt. launched schemes like PMJJBY, PMSBY, APY, SSA, Jan Dhan Yojana etc.
- Transfer money to your dear one online without any hassle. Not only that send money via Facebook, Twitter or via mobile payment systems launched recently.
- Enjoy reward points on using your debit card while shopping online or offline.
- If you are women, then you can enjoy extra benefits by opening women-centric bank account.
I think there many such reasons to open a bank account, if you don’t have yet. Would you like to share why you have opened a bank account? How did you find the current process of account opening? Share your feedback, experience and any tips to make this article worth our readers.