A zero-balance current account is ideal for business transactions, self-employed traders and large and mid-sized companies. Multiple banks provide the facility of opening a zero-balance current account online in a paperless and hassle-free process, offering their customers several benefits without the burden of maintaining huge amounts in their bank accounts. This article presents a step-by-step guide to opening a zero-balance current account online.
Step-by-step Guide to Opening a Zero Balance Current Account Online
A current account is a crucial financial tool, allowing businesses and individuals to handle their day-to-day expenses and transactions. By opening a zero-balance current account online, an individual can gain several benefits and convenient banking services. If you are looking to open a current account but are unsure of the procedure to follow, follow the step-by-step guide listed below to acknowledge the necessary steps for opening a Current account efficiently.
Step 1: Select the Bank
The first and most important step towards opening a zero-balance current account online is researching and choosing a bank that aligns well with your requirements. Select multiple banks and compare them based on the major factors, such as online banking services, reputation, fees, branch network, and customer reviews. Once you make a detailed comparison, select a bank that aligns the best with your financial goals and needs and provides you with the desired services.
Step 2: Collect the Necessary Documents
To open a zero-balance current account online, you will require certain documents. Even though the documents required by the banks might vary, some of the common documents to be applied include:
- Identity Proof: when opening a zero balance current account, you must provide identification documents to the bank, such as a driver’s license, passport, PAN card, and Aadhaar card. If you are opening a bank account with multiple partners, collect their identification documents and submit them with yours.
- Address Proof: Almost every bank requires an address proof before opening your bank account. You can submit lease agreements, utility bills and property ownership documents.
- Certificate of Tax Registrations: If your bank asks, submit your tax registration certificates, such as professional tax registration and goods and services tax registration certificate.
- Business Registration Documents: as per your business structure, you must submit relevant business registration documents to your bank.
Step 3: Visit the Website or Bank Application
Once you decide on the bank to open an account and gather all the required documents, visit the bank’s official website or download their application on your smart device.
Step 4: Fill in your details
You must input your personal details when you click on the “open account” section on the bank website or application. Enter your details – your name, contact number, age, gender, nationality and email ID.
Step 5: Upload your Documents
After filling in all the required personal and official information, upload the documents requested by the bank along with a picture of your passport-sized picture. Also, upload your aadhaar or PAN card details for verification.
Step 6: Choose your Account
Select the zero balance current account type from the kinds of bank accounts listed.
Step 7: Login Credentials
Create your login credentials to operate Internet banking and avail yourself of all the online banking services.
Step 8: Access your Bank Account
Your current zero balance account is ready to be accessed. Now log in to the bank account on the bank app using the login credentials sent to you via email, start making transactions, and stay updated with your bank balance 24/7.
Wrapping Up!
Many banks offer their customers affordable, easy and customer-friendly zero-balance bank account facilities. Even though both the online and offline account opening processes are hassle-free, with the rising digital services, customers now find it easily accessible to open and function their bank accounts online from the comfort of their homes.
