How to open a savings account in a bank?

Here are some of the documents you need for creating bank account.

1. Identification documents : Either one of the these will do - voter ID, Aadhar card and License.
2. PAN Card.
3. Address proof.
4. Recent utility bill
5. Passport size photo
6. Nominee details and signature. (if you wish to have nominee for bank account)

These are the most common documents you need to open savings account in any of the bank.

Most of the PSU and semi-PSU banks allow you to open zero balance account under "Jan Dhan Yojna" scheme. Most of the private banks despite being asked to allow customers to have zero balance account. They are going to force you under minimum balance type of accounts. So you'd have to either deposit 5K, 10K or 20K Rs. depending on type of account you get. Most of the private banks such as ICICI, HDFC don't even entertain the customers to open zero-balance account.

If you choose not to keep much balance with the bank, in such case your best option is to open the account with banks such as - IDBI, SBI, Union Bank and few other PSU banks. They can allow you to open bank account on balance as low as 500 Rs to 1000 Rs (for urban and city limits).

Companies who offer you job usually create salary account on their connected bank. So your salary is usually deposited on that account. All the process in such case is being carried out by the HR and Operations manager. If you don't get any such account then in that case you have to go for your own savings bank account. If you open bank account prior to your companies salary account, you can then give them your account number instead of having salary account separately from savings account.

Please note that if you want to open a bank account for the deposit of salary, it would be a better option to wait till your organisation instructs you on the exact bank and other details. Major organisations which deposit salaries in bank accounts maintain special salary accounts in some specific bank. Usually, the HR department of the organisation takes care of these formalities. If that is not the case with your firm, it would be okay to get a separate bank account.

Here are the steps to open a savings account.

1. Choose your bank. Visit their website to find out the products. Checking out their ATM networks and other services would be a good idea.

2. Choose the type of account that best suits your needs. Banks normally allow you to open what they call No Frills Accounts. These accounts can be opened with no minimum balance requirements. Usually public sector banks offer accounts with a minimum balance of Rs. 500 or so. Avoid opting for bigger private sector banks like HDFC or ICICI. They will force you keeping a minimum balance of Rs. 5000 or upwards.

3. Keep all your information ready with you. You cannot be sure of which documents can be asked.

You will need the following documents. Please note that you may not need all of them.
1. Valid identity proof - Aadhar card, Driving license or company ID card should be enough. Please note that banks insist on Aadhar card these days. It alone can suffice the requirement of both identity and residence proof. PAN card or voters card can also be used for the purpose.

2. Residence proof - Electricity/telephone bills or any other utility bills should suffice to meet this need. Ration cards were accepted before, but banks have ceased to accept them now. Driving license can also be used as a residence proof. If you are living in a place away from your native, you may need to submit the agreement letter of your place of current residence.

3. Passport size photographs - Maybe two numbers of photographs would be needed.

In case you want to create a bank account exclusive for salary then wait for few days, your company itself will give one account to you. Bank which has connected with your company will provide you with a account.

For normal use, you can go with SBI ( But their faculty sucks and as it is government bank you can't finish your work quickly and need to wait for hours to complete your task, minimum balance in that account should be Rs 500 because there may be cuttings of ATM card, cheque etc.)

If you want your process to be quite easy and quick go with banks like HDFC, ICICI, Axis bank. These banks will make your work lot easier and quick. But minimum balance is quite high, for ICICI you need to deposit Rs 20,000 and Rs 10,000 is the minimum balance. Though the 20,000 will be in your account make sure you ready with that amount. Go with HDFC which has Rs 5000.

Documents need to open new bank account

1. Any of the identity proof ( Aadhar, driving license, voter card ), make sure it is Aadhar card, as it can serve as address proof.
2. PAN Card.
3. Passport size photo
4. Nominee details ,you may take help from your father for this.