Understanding How to Start your own bank account

Topics covered 

Online application

Private banks

Government banks

Request Amenities

Minimal Balance

Irrespective of your social status working or non-working try to have a bank account and a saving of your pocket money at least. It would be of great use at any time in the future for you. Once you start a bank account you may even start saving in FD or RD. You may refer our blog to start saving how to start RD online and How to open FD online  For all those who don't own a bank account let us understand how to start a new bank account.

Online application

 Nowadays easily you can apply for a new savings account via the internet. Go to the respective bank in which you prefer to start an account. Go to the menu -- Select save -- select accounts and select savings account. There are so many options of account form like current account, woman account, etc. From that, you may prefer either woman's account or a normal savings account. If you are a senior citizen you may prefer a senior citizen account. A form will be displayed, fill the form you need, and apply for the account. 

Private Banks

In case of private banks asap you submit your application online the bank will approach you through phone calls and they may even make your work simple by crosschecking details via a phone call or directly sending their bank representative to your home to confirm your details and collect needed documents and will start your new account.

But never give your original id proofs to the bank representatives you may give them photocopies of asked but never submit anyone your original documents. Here documents refer to your voter id, adhaar card,  pan card,  ration card,  license, etc. 

Government Banks

In the case of government banks although you submit an application online you will also have to go in person once to submit the documents and finalize your account commencement. 

Request Amenities

While filling the form make sure you request online banking or internet banking or net banking or mobile banking or phone banking, checkbook, ATM card everything. You may collect these pieces of stuff in person from the bank or they may reach you via post.

Minimal Balanced

A minimum balance limit exists for tier 1 ie urban cities, for tier 2 ie semiurban and tier 3 ie rural cities as to be deposited initially and maintained always else penalty will be raised over your account.

Due to corona few banks have even revised their minimum balance limit and have enabled zero balance active account. Mandatory minimum balance has been curbed and made to zero balance by several banks due to covid's economic impact. 

you may prefer watching our video glimpsing a private and government bank account opening paradigm

worried about net banking go to  How to register for an online banking