Equitas Small Finance Bank Overview
Equitas Small Finance Bank (a scheduled commercial bank in India) allows you to open a savings account online through their official website or mobile app. The process is paperless and typically involves Video KYC for verification. Note: I'm not affiliated with the bank, and banking processes can change—always verify on their official site. This is general guidance; consult the bank for personalized advice.
Eligibility
- Indian resident (age 18+).
- Valid Aadhaar number (linked to mobile) and PAN card.
- Access to a smartphone with camera for Video KYC.
Step-by-Step Process
1. Visit the Official Website or Download the App:
- Look for the "Open Savings Account" or "Account Opening" section (it's usually on the homepage under Personal Banking > Savings Account).
2. Start the Application:
- Click on "Apply Now" for a savings account (e.g., Equitas Savings Account or Zero Balance Account).
- Select your account type (savings, current, etc.). They offer options like regular savings with interest up to 7% p.a. (check current rates).
3. Fill in Your Details:
- Enter personal information: Name, mobile number, email, date of birth, address.
- Provide Aadhaar and PAN details for e-KYC.
- Upload or enter nominee details if required.
4. Complete Video KYC:
- Schedule a video call with a bank representative (usually within minutes).
- During the call (5-10 minutes), show your original PAN card and Aadhaar (or other ID proofs like Voter ID/Passport).
- The representative will verify your identity via biometric or OTP.
5. Submit Documents (if needed beyond e-KYC):
- Proof of address (if not covered by Aadhaar).
- Recent passport-size photo.
- Most is digital upload—no physical branch visit required.
6. Account Activation:
- Once verified (usually 1-2 working days), your account number and virtual debit card details will be shared via email/SMS.
- Download the app to activate internet banking, UPI, and get a physical debit card (delivered to your address).
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