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Documents Required to Open a Savings Account & Eligibility

  • 100% Paperless Digital Application

  1. Personal
  2. Accounts
  3. Savings Account Documents and Eligibility

Open A Savings Account Digitally

Opening a savings account is one of the fundamental steps in everyone’s financial life. The right savings account can be the difference between your money staying idle and your money growing steadily with time. With an IndusInd Bank Savings Account, your money grows at competitive interest rates. Opening a savings account with us is easy, 100% digital, and paperless.

But, before you open a savings account, you must know the eligibility criteria and the documents required for opening a savings account. Knowing about the right documents needed to open a bank account can ensure a smooth and hassle-free account opening experience. The documents required for account opening serve as identity proof, financial capability proof, and more.

Documents Required for Opening Savings Bank Account

Here is a list of identity documents needed for a bank account (Any 1): 

  • Aadhaar Card
  • Valid Passport
  • Voter ID Card
  • NREGA Job Card
  • Valid Permanent Driving Licence
  • Letter from the National Population Register
  • PAN / FORM 60

For address proof, you will need any ONE of the following bank account opening documents:

  • Voter ID
  • Driving Licence
  • Utility Bill - Electricity, Water, Gas, Or Telephone
  • Ration Card
  • Aadhaar Card

Note that the above list is generic. The bank may require specific account opening documents along with the above.

Eligibility Criteria for Opening Savings Bank Account

To open a new account, you must meet the basic savings account eligibility in India. This can include:

  • Holding an Indian citizenship.
  • Being over 18 years of age.

IndusInd Bank also provides Minors the chance to have their savings account. One can open the Indus Young Saver Account in the minor’s name, either:

  • As an “Under Guardian” account, where the parent shall be operating the account, or
  • By the minor himself/herself, if the minor’s age is 10 years or more.

Kindly contact the nearest IndusInd Bank branch for details.

In addition, there may be specific bank account eligibility criteria for their different accounts. For instance, to open a certain type of account, you will need to add (and maintain) the minimum balance requirement, which can range from â‚ą10,000 to â‚ą1 lakh.

Some accounts may have simpler eligibility criteria. For instance, to open the Indus Delite Savings Account, which is a Zero Balance Savings Account, you need to have the following:

  • Valid Aadhar number linked with your mobile number.
  • Physical copy of PAN Card
  • Camera facility on mobile/desktop.

To know more about our savings account eligibility criteria for different accounts, you can browse through our website or contact our customer support at 022 68577777 / 022 44066666 / 022 42207777 / 1860 267 7777

Savings Account Eligibility & Documentation FAQs

  • Is an Aadhaar card enough for opening a bank account?

    It might or might not be enough and the bank may ask for additional documents needed to open a bank account.

  • Is a PAN card mandatory for opening a savings account?

    Yes, PAN is one of the bank account eligibility criteria.

  • Does Form 16 qualify as a valid document for ID verification?

    Form 16 is typically not considered one of the valid documents required for account opening. It is an Income Tax document provided by employers to employees.

  • Can I open a bank account if I do not have a PAN card?

    If you fulfil savings account eligibility even if you don't have a PAN card, you can open an account.

  • What are the requirements for a savings account?

    Opening a saving account typically includes submitting proof of identity, proof of address, passport-sized photographs, and the minimum deposit amount.

  • Who is not eligible to open a savings account in a bank?

    Individuals who are not Indian citizens or have certain legal restrictions are not eligible to open a savings account in Indian banks, subject to the bank's policies and regulatory requirements.

  • Can I open a savings account without income?

    You can typically open a savings account by showing bank account opening documents, even without having a regular income.

  • What is the minimum age to open a savings account?

    The minimum age to open a regular savings account is usually 18 years, the legal age for being an adult.

    However, many banks offer kids or children’s bank accounts for minors, i.e., individuals under 18 years of age. These accounts are managed by the parents under their child’s name. Children’s bank accounts come with limited features to help them learn financial responsibility at an early age.

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