What is the eligibility Criteria for digital savings account?

 What is a digital savings account?

The digital saving account that of a niyo savings account means one can open a saving account anywhere. The digital saving account does offer multiple features, such as:

· Virtual Debit Card,

· Customer verification via Video KYC

· Cashback on online spends

The individuals who like to do everything digitally for them, the digital savings account is a saviour.

Guidelines on how to open a digital savings account?

Opening a digital account is extremely easy. Here are the following steps you need to follow:

Step 1: There are multiple digital accounts available. Hence, after a glance, you need to select the digital account you wish to open, and also, you would be required to verify yourself.

Step 2: Verification can be done with an Aadhar card, Pan Card, and giving the address and mobile number.

Step 3: The next step is to key in all the personal details that the bank would require

Step 4: KYC is done online for opening a digital savings account, so complete the KYC. Remember, this is an essential step, and if you fail to do this step, it would be impossible to open a digital account.

Step 5: Final step is to fund the account. Confirmation of the name is required, which needs to be published on the debit card. Make sure to give your full name and check if the spelling is correct.

Eligibility Criteria and the Documentation required to open a savings account?

To open the savings account, there are a few essential criteria’s which need to be fulfilled:

1. One needs to be an Indian citizen and have the relevant documents for the same.

2. You must have your PAN card and Aadhar card ready.

3. The Aadhar card should be mandatorily linked to the valid phone number.

4. One must be 18 years and above to be able to open the account

5. You must be applying for the opening of an account from India only.

6. The mobile device, desktop, or laptop from which the account is getting opened should have a camera and a microphone facility for the video KYC process.

Location: India

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