Quick Guide on How to Open a Savings Account

A Savings Account is the most basic type of bank account you can have, and as the name suggests, its primary purpose is to help you save money. With this account, you can safely deposit or withdraw funds at any time and earn interest on the money in the account. You can also use it as an emergency fund during medical or personal emergencies or utilise it to cover your short-term needs.

The best part is that opening a Savings Account is a simple task that takes just 10 minutes, and most banks usually have similar procedures to open a Savings Account.

Step 1: Get online

Open a Savings Account online with HDFC Bank through your mobile phone or laptop through InstaAccount. You can initiate the process by sharing your mobile number and KYC documents and filling out a form. It can all be done conveniently via our online portal, allowing you to avoid going to the bank physically.

You can read more on the different types of Savings Accounts here.

Step 2: Documents required

Regardless of your chosen method, you must provide certain documents to open your Savings Account. These are:

• Aadhaar Card: You don’t need any other identity or address proof if you have Aadhaar Card.

Or

• Identity Proof (driver’s license, passport, etc.)

• Address Proof (driver’s license, passport, etc.)

• PAN card or Form 16, a certificate from your employer confirming that TDS has been withheld from your salary (required if the applicant does not have a PAN card)

• Two of the latest passport-sized photographs
   

Step 3: Complete video KYC

You can now submit your KYC documents and verify yourself online! It can all be done on a video call with an HDFC Bank official. Just provide access to your location, camera and microphone on your smartphone, and you are all set to operate your new Savings Account!

Step 4: Explore the HDFC Bank Savings Account

What happens if you don’t want to wait for your Debit Card and bank account details to arrive at your home? How can the bank issue you an account if it cannot verify your documents and details? If you have already verified and done step 3, the Debit Card will reach your address in 15-25 days. Otherwise, head to the nearest branch for KYC and verify yourself physically.

Step 5: Login via NetBanking or MobileBanking

Once you receive your customer ID and account number, you can start using your account and even transfer. Get started by logging into NetBanking and MobileBanking and creating a password.

HDFC Bank strives to enhance its customer experience by offering safe and convenient digital services, and InstaAccount is yet another offering to live up to this promise. With HDFC Bank InstaAccount open a Savings Account instantly in a few simple steps. It comes pre-enabled with HDFC Bank NetBanking and MobileBanking, and you can enjoy Cardless Cash withdrawals.

With HDFC Bank InstaAccount, open a Savings Account instantly in a few simple steps.

Click here to get started with Online Saving Account Opening.

*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.