What do you need to open a bank account?

27/06/2020

Applying for a bank account is not complicated and can usually be done online. It takes a few things. 

After reading this article, you will be well prepared.


1. A residential address in India

To open an Indian bank account, a residential address is mandatory. If you do not have a permanent address in India, it may be more difficult to apply for a new Indian bank account.

2. Your Aadhar card Number

The bank will always require your Aahar card Number. So, make sure you have it at hand.


You're not 18 yet?

If you are under 18, you will need permission from a parent or legal guardian to apply for a current account. The co-applicant will have to provide her or his Aadhar card Number and a copy of their ID.

You need a business bank account?

If you would like to open a business account, you will need to provide some additional information with your application, such as a copy of your business registration and sometimes information on your turnover.

Opening a joint account

Many banks allow you to open a joint account. If both parties already have a current account at the same bank, it is fairly easy to add the other as an account holder via internet banking or mobile banking.

Are you opening a new joint account with a bank as a new customer? Then you will have to go through the application procedure together, again providing your proof of identity.

Some banks will require you to visit a bank branch to open an account. Others will send a  bank employee to visit you.

Read the terms and conditions

Do you want to be optimally prepared to open a bank account? Be sure to read the terms and conditions before you start.

This can be a lot of reading, because most of the time there are different documents: banking conditions and conditions for internet banking. During your online application process you will have to agree to all these conditions.