Rules, tax & how-to
How to Open a Savings Account
Open a savings account online with video KYC or at a branch — documents, steps, nomination (up to 4 nominees) and choosing the right bank.
Updated 27 September 2026 · 26 banks trackedBest effective rate on ₹10 lakh
5.65%
IDFC FIRST BankWhat you need to know
You can open a savings account in minutes online using Aadhaar-based e-KYC and video KYC, or at any branch with KYC documents. Compare interest slabs, minimum balance and charges first.
Steps
- Choose the accountCompare rates, minimum balance and charges; pick regular, zero-balance or a variant.
- Apply online or at branchEnter PAN and Aadhaar; complete video KYC or visit the branch.
- Add nomineesUp to 4 nominees, simultaneous or successive (from 1 Nov 2025).
- Fund and activateMake the initial deposit if required; set up net banking, UPI and debit card.
Documents
- PAN card (or Form 60)
- Aadhaar / passport / voter ID / driving licence (officially valid document)
- Recent photograph (branch)
- For minors: birth certificate and guardian’s KYC
Choosing a bank
- Match the minimum balance to what you usually keep.
- Check ATM withdrawal limits and debit card fees.
- Prefer banks with good app ratings if you bank digitally.
Frequently asked questions
Can I open an account without Aadhaar?
Yes, with another officially valid document such as a passport or voter ID.
For information and comparison only. Confirm rates, charges and rules with your bank.