Open savings account online: Customers can upgrade their accounts within a year through face-to-face KYC.
Open savings account online: With the surge of digitalisation, almost everything is now available at your fingertips. From transferring money to applying for a loan, almost everything can be done from the comfort of home. Moreover, you can even open a savings account online. Indian Overseas Bank (IO)B has announced an IOB Insta Digital Savings Account scheme under which the account can be opened online with just an Aadhaar OTP.
Open savings account online: Eligibility for opening IOB Insta Digital Savings Account
Anyone with a valid Aadhaar and PAN card.
The age should be 18 years and above.
The scheme is only for a ‘new to bank customer’
Customers should not have any OTP-based Aadhaar verification-based account with any other bank / financial institution.
Customers can have only one Insta Digital Savings Account and no other accounts.
Open savings account online: Requirement
Those who want to open their account online with IOB need to have a valid Aadhaar and Permanent Account Number (PAN). Also, they should have an active local mobile number linked to Aadhaar and an active email address.
Open savings account online: Important things to know
Customers must also note that the account can be opened in a single name and operated by themselves only.
The period of the account can be a maximum of one year only. After that, the account number can continue in any other SB scheme preferred by the customer.
Also, the fees and charges will be applicable to this account as well. It will same as the regular SB Account.
There will be a transaction limit cap of Rs 49,999 per transaction. Also, no cash withdrawal will be allowed at the branch.
Open savings account online: Facility
All basic facilities like internet banking, mobile banking, IMPS and UPI transactions along with SMS alerts will be available to customers. Customers will get Rupay Classic/ Platinum Debit card.
