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2 mins Read | 5 Years Ago

How to use savings account online


If you are looking for a safe investment option to park your idle funds and earn interest on the same, a savings account is the best option. Thanks to the internet, banks now allow you to open a new savings account online from the comforts of your home. This eliminates the need for you to personally visit a branch office of the bank in order to get yourself a savings account.

But if this is the first time that you are looking for an online saving account opening, here are a few important things you should know-

1. Opening a new savings account online

If you want to apply for a new savings bank account online, you’ll first have to visit the official website of the bank in which you’d like to open the account. Note that the bank should offer online account opening facility.

Look for the new account opening option on the website and fill the application form. You’ll be required to submit your ID proof, address proof and a few other documents to submit your application.

2. Selecting the right type of account

Some of the banks now offer many different types of bank accounts to suit different saving needs of the customers. When you apply for savings account online, make sure that you go through the benefits of different types of accounts to make the right decision.

There are now savings account exclusively for men, women, kids and even senior citizens offered by a few banks. Such accounts come with a host of added benefits and features.

3. Receiving the account number

After selecting an account type and submitting the required documents, the bank will then create an online savings account for you. You will receive a unique account number for the same. All the details regarding your new savings account will also be sent to your email address.

Once the account is opened, you can then register for internet banking from the bank's website to start using your account online. This will also require you to fill a form with your account number and other personal details. You’ll also be required to select a username and password for the same.

4. Using the netbanking portal online

Once you’ve registered for online banking and have received confirmation for the same, you can use your account credentials to log in to your online banking account.

You can use your online savings bank account for many different types of online transactions. You can initiate many different types of transactions such as IMPS, RTGS, NEFT, etc. to transfer funds, pay online bills, open an online fixed deposit, apply for a loan and do a lot more.

5. Mobile banking app

Many of the top banks in India also have their mobile apps to facilitate online banking. If your bank also offers one such app, download the same to use your online bank savings account on-the-go.

Just like the online banking portal, the mobile app also offers a host of features to meet all your banking needs in the most convenient manner.

Experience enhanced banking convenience with online savings account

Opening a new savings bank account is now easier than ever with the online facility. If you want to earn interest on your savings and experience the convenience of internet banking, look for a bank which offers online account opening facility.

When selecting, make sure that you pick a bank that is well-known for its customer service and offers a higher rate of interest and additional benefits.



The contents of this document are meant merely for information purposes. The information contained herein is subject to update, completion, revision, verification and amendment and the same may change materially. The information provided herein is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would (by reason of that person‘s nationality, residence or otherwise) be contrary to law or regulation or would subject lClCl Bank or its affiliates to any licensing or registration requirements. This document is not an offer, invitation or solicitation of any kind to buy or sell any security and is not intended to create any rights or obligations. Nothing in this document is intended to constitute legal, tax, securities or investment advice, or opinion regarding the appropriateness of any investment, or a solicitation for any product or service. Please obtain professional legal, tax and other investment advice before making any investment. Any investment decisions that may be made by you shall be at your sole discretion, independent analysis and at your own evaluation of the risks involved. The use of any information set out in this document is entirely at the recipient’s own risk. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith by lClCl Bank and from sources deemed reliable. There can be no assurance that such projections will prove to be accurate. lClCl Bank does not accept any responsibility for any errors whether caused by negligence or otherwise or for any loss or damage incurred by anyone in reliance on anything set out in this document. In preparing this document we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us or which was otherwise reviewed by us. Past performance cannot be a guide to future performance. ‘lClCl’ and the ‘I-man’ logo are the trademarks and property of lCICl Bank. Misuse of any intellectual property, or any other content displayed herein is strictly prohibited.

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