InvestorQ : Can I open a bank account online? Which banks are offering the service?
Anusha Savla made post

Can I open a bank account online? Which banks are offering the service?

Radhika Arya answered.
1 year ago
Well yes, recently RBI has announced that customers need not visit the branch to open their account. Banks are instructed to conduct online KYC for account holders through video conferencing. This step of RBI was long due and was delayed due to the pandemic. Therefore, several Indian banks are preparing themselves to offer customers the option to open their account through video conferencing instead of visiting the branch. Considering the social distancing need right now this could be a great step to avoid the rush in banks. However, implementation of any plan takes substantial time as any process has to go through several stages and many norms to follow.

Kotak Mahindra Bank, a leading private lender has already entered the race and launched a platform for opening a savings bank account online. The new platform is a part of Kotak’s 811 digital banking suites. All you have to do is to visit the website of the company, share your personal details, give consent to the use of Aadhaar for verification, and provide access to the phone’s location for video KYC. After that a bank executive will call you and ask for video conferencing, will check relevant details through that and your saving bank account shall be opened. Customers will be allowed to submit their documents digitally and sign digitally as well.

Axis Bank and IndusInd bank are on their way to developing such a platform that would provide an online solution to more than 250 services that the bank offers. There are several other public lenders that have gone live with the process and are on their way to testing how the entire process works.

preetam lenka answered.
1 year ago

Yes u can......

Axis bank
Punjab bank
RBL bank
SBI bank
And many more.....
I will suggest u to open a SBI account online!!

All the best