Question: What Are The Basic Documents A Person Required To Open An Account?

What is required to open current account?

To open a current account, KYC documents like identity proof and address proof are required along with business proof.

Documents valid for Address Proof are Passport, Aadhaar, Voter’s ID Card, Ration Card, Driving License, Lease/Rent Agreement, Property Documents, Utility Bills..

How hard is it to open a bank account?

Opening a checking account doesn’t have to be difficult. With a few documents, some basic personal information and a way to fund your account, you can complete the application process in just a few minutes.

Is HDFC zero balance account available?

Zero Balance Savings Account: HDFC Bank and SBI offer number of facilities such as debit and ATM cards and internet banking with BSBD account. Zero balance savings account: A BSBD account does not require a minimum or maximum limit.

What are the 7 steps to open a bank account?

How to Open Bank Account ? 7 Steps To Open Bank AccountDecide the Type of Bank Account you want to Open. … Approach any Bank of choice & meet its Bank Officer. … Fill up Bank Account Opening Form – Proposal Form. … Give References for Opening your Bank Account. … Submit Bank Account Opening Form and Documents.More items…•

What are the types of current account?

Let’s take a look at the different types of current accounts there are, which are based on the different requirements you might have.Premium Current Account.Standard Current Account:Foreign Currency Account:Packaged Current Account:Single Column Cash Book.

What is the easiest bank account to open online?

1. Choose a Bank or Credit Union with $0 Deposit Req’sBarclays Online Savings.Chime.Discover Online Banking Cashback Debit.Credit Unions.Wells Fargo Opportunity Checking®BBVA Compass Easy Checking.Radius Bank Essential Checking.

How can I open a bank account without proof of address?

A person without valid KYC documents but categorised as ‘low-risk’ can open an account by submitting any of the following-identity card with applicant’s photograph issued by a central/state government department, statutory/regulatory authority, public sector undertaking, scheduled commercial bank or public financial …

Which bank is best for opening account?

8 Best Zero Balance Savings Account In IndiaIDFC First Bank Pratham Savings Account. … YES Bank Smart Salary Advantage. … IndusInd Bank-Indus Online Savings Account. … DBS-DigiSavings. … Kotak Mahindra Bank-811 Digital Bank Account. … HDFC Bank – Basic Savings Bank Deposit Account. … SBI – Basic Savings Bank Deposit Account. … Standard Chartered Basic Savings Bank Deposit Account.

What are the documents required for account opening?

The customer identification will be on the basis of documents provided by the customer as (a) Proof of identity and (b) Proof of address. The customer has to submit the prescribed application form along with Photographs all cases. (a) Proof of identity (any of the following with authenticated photographs thereon):

What is the process of opening bank account?

Most often, you’ll need to provide paperwork and personal information in order to open a bank account. First off, you need to bring at least one form of photo ID. Some banks may require two forms of identification. These forms can be a state ID, Social Security card, passport or birth certificate.

Can I open a bank account with no money?

Can you open a bank account with no deposit or minimum balance? If you’ve been following along so far you probably know that yes, you can open a bank account with no money. You can also do this without adhering to a minimum balance requirement. Yet, not all bank accounts are created equal.

What is the minimum balance to open a current account?

Current Account Monthly Average Balance and Withdrawal Limit 2020BankMinimum Average BalanceHDFC Bank Regular Current AccountRs.10,000 per quarterBank of Baroda Baroda Small Business Current AccountQuarterly Average Balance Rs. 2,500SBI Regular Current AccountRs. 10,000Axis Bank Normal Current AccountRs. 10,0002 more rows

What documents do I need to open a new bank account?

What ID do you need to set up a bank account?One form of primary photographic ID: such as a driver’s licence, passport or proof of age card.Two forms of primary non-photographic ID: such as a birth certificate, citizenship certificate or pension card.More items…•

What is the minimum balance to open an account in HDFC Bank?

Rs. 10,000The minimum amount required for opening Savings Account in HDFC is Rs. 10,000 for metro Urban branches Rs. 5,000 For Semi Urban branches Rs. 2,500 for Rural branches is required to open a Savings Regular Account.

Is GST compulsory for current account?

Bank account details can be added later vide amendment of non-core field. Therefore, Current Account is not compulsory for GST Registration. And, you can use either saving account or Current account to register for GST in India.

Can I have 2 current accounts?

A lot of people seem to think you can only have one bank account at a time. But you can actually have multiple current accounts with various banks. Having more than one bank account should not affect your credit score, unless you try to open loads of new ones in a very short space of time.

Which bank has lowest minimum balance?

ICICI Basic Savings Account.HDFC BSBDA Small Savings Account.SBI Basic Savings Bank Account.Axis Bank Small Basic Savings Account.Indus Small Savings Account.Standard Chartered Bank’s Basic Banking Account.RBL Bank’s Abacus Digital Savings Account.IDFC Bank Pratham-savings account (BSBDA)