Tired of hopping from one branch to another with piles of paperwork and waiting in long queues to open a basic salary account? Imagine having the convenience of setting up your account in under 10 minutes, all from the comfort of your home.
Opting to open your salary account 100% online offers unmatched convenience through fast digital onboarding, instant e-KYC verification, and minimal documentation. Leading digital banks like IDFC FIRST Bank enable you to seamlessly open a full-fledged account via paperless processing with no branch visit required.
Are you curious to know more? This guide will walk you through the quick steps to open a salary account online.
Why Open a Salary Account Online?
Opting for a completely digital salary account offers unmatched convenience:
- Paperless Application: Fill out the application form online by furnishing basic details. You do not need to submit forms and documents physically.
- Instant e-KYC: Your identity and address are verified digitally through Aadhaar in real-time. No paperwork is needed.
- Quick Video KYC: The video KYC process at the end can be completed in 5 minutes. Answer simple questions to finish opening your account.
- Zero Branch Visits: You can complete the entire process, from application to account activation, from your home or office.
Eligibility Criteria for Online Salary Account
The key eligibility parameters for opening a digital salary account are:
- Minimum Salary: Based on the bank, you must draw a monthly salary as per the bank rules. However, the minimum salary required to open the account may depend on your chosen bank.
- Residency Status: You must be an Indian citizen residing in India or a foreign national fulfilling GOI criteria.
- KYC Documents: During onboarding, Aadhaar, PAN, and other identity proof must be furnished.
Steps to Open a Salary Account Online
Follow these quick steps to open your online salary account:
1. Visit the Bank’s Website or Mobile App
Firstly, access your preferred bank’s official website or mobile app. For illustration, we have used IDFC FIRST Bank’s platform. Check the different account types offered.
2. Select the Salary Account Option
Under savings accounts, choose the salary account type you wish to open. Before applying, review details such as fees, charges, and the salary account interest rate.
3. Fill in the Online Application Form
The form will seek basic personal and professional details like name, contact information, employer name, and monthly salary. Furnish accurate details.
4. Verify Your Identity
Banks will initiate instant paperless e-KYC to verify your identity and address proof using Aadhaar. Ensure your Aadhaar is updated for seamless authentication.
5. Complete Video KYC Process
Lastly, complete the video KYC by answering questions asked by the bank representative over a video call. During verification, display your original PAN card.
Benefits of a Salary Account
A corporate salary account offers a range of useful features and advantages explicitly tailored for working professionals:
- Zero-Fee Banking: Enjoy free banking services like unlimited IMPS, NEFT, RTGS transactions, SMS alerts, etc., without any fee.
- Monthly Interest Credits: Opportunity to earn a higher interest rate on account balance, credited monthly.
- Exclusive Lifestyle Benefits: Depending on your bank, you can use complimentary lifestyle memberships like Times Prime, Amazon Prime, and more.
- Higher Transaction Limits: Higher daily ATM and POS limits for convenient payments and withdrawals (e.g. IDFC FIRST offers ₹2 lakh daily ATM limit and ₹6 lakh POS limit).
- Insurance Coverage: Get personal accident death and lost card liability protection.
Conclusion
Opening a salary account online has never been easier. With just a few steps, you can enjoy the benefits of a fully loaded account tailored to your needs. Whether you’re a young professional starting your career or a seasoned employee looking for better banking services, the digital process saves time and offers unparalleled convenience.
If you’re ready to take advantage of modern banking, start your journey today by exploring the offerings of leading banks like IDFC FIRST Bank. Experience the future of banking at your fingertips!
