Even though there are many investment options available to save for the future, savings accounts are low-risk and considered the simplest way for the same. Account holders are also entitled to earn interest on their deposits. While opening a savings account in a bank, a customer needs to submit his/her Know Your Customer (KYC) documents – proof of identity and address for the verification. Once the bank verified the details and documents, customers can avail the benefits of a savings account.
Documents Required for Savings Bank Account
An applicant needs to submit certain documents to verify his or her identity. Here is the list of documents required for savings bank account:
|Proof of Address|
To validate the address, an applicant will require submitting government approved documents to the bank. Below is the list of documents that a customer can use:
|Proof of Identity|
To verify the identity, a customer can provide and submit the following documents to the bank:
In addition to above-listed documents, the applicant will require to submit latest passport size photographs and a duly filled account opening form. You can either download the form from the official website/portal of the bank or directly visit the nearest branch of your preferred bank to collect the form in-person.
Once the customer submitted the documents, the concerned authority of the bank will verify the details and state whether he or she is eligible for the savings account or not. To prevent rejection, it is best to read the eligibility criteria before submitting the application.