5 Ways You Can Speed up the Process of Opening a Savings Account

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A savings account is an excellent opportunity to inculcate financial discipline. The top Indian bank offers countless features to ensure the best experience. These include monthly interest credit on savings, paperless digital A/C opening and unlimited ATM withdrawals. Banking today is also all about speed. The best institutions are now online to ensure fast and better financial transactions. Customers also wish to quicken the account opening procedure. Little things can add up to make it a successful endeavour.

Rapid banking helps save loads of time in today’s busy schedule. Being able to get a savings account rapidly at your disposal can also kick-start the money management process early. So, look at how to clear the formalities without unnecessary delays.

1.     Arrange the Documents Beforehand

The documents required for opening a bank account are simple. These are usually what the best bank will demand to get started with the process:

  • Aadhaar number and PAN number/Form 60 for online opening.
  • Passport, job card, voter’s identity card or a permanent valid license, passport size photo and PAN card for offline opening.

Having everything in place can help you complete the steps quickly. Ensure the papers you are providing are authentic, original, and updated. Cross-check once before submission.

2.     Tick off the Eligibility

Indian citizens, residents of India and foreign nationals residing in India and meeting GOI criteria can open an account and receive the best bank savings interest rates. Make sure you are eligible beforehand for your convenience. Otherwise, it could waste a whole lot of time with the application and arranging for the documents only to get rejected in the end.

3.     Impressive Credit History

Any figure above 700 is considered to be good. The higher the score, the more confident are banks that you will not be a loan defaulter. It can also quickly get your application approved instead of getting rejected for a low score. You will require at least 6 months to reach a satisfactory number. So, try to build a good credit profile beforehand. Pay the bills on time, increase the credit limits and clear all the debts. A good figure is also useful in getting better bank interest rates on a savings account.

4.     Online Account Opening

This is the quickest way to open a savings account. All you need are documents and a steady internet connection. This saves you from physically visiting the branch multiple times which saves time. Here’s how to do it:

  • Go to the application link and enter personal details
  • Enter your Aadhaar number/VID no. and PAN number
  • Fund your account and complete video KYC

The account is opened immediately after the above steps are complete. All the other details like customer ID, how to check account balance and IFSC code are received over email.

5.     Assisted Customer Service

The most reputed and reliable bank comes with high-end customer service. Get in touch if you are facing issues or have concerns regarding opening the account, documents, eligibility, or bank interest rates on savings account. It will help you quicken the process and ensure minimal errors as well. This can further speed up the whole procedure.

Opening an account is simple. Pay attention to the bank rules and regulations. Listen to the suggestions of the technical team. This can ensure a smooth banking experience.