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Open a savings account easily: Online vs offline explained

18 Jul 2025 by Team FinFIRST
open a savings account online vs offline
Open an Account

If you’re looking to kickstart your financial journey effortlessly, opening a savings account is one of the first crucial steps. It secures your money, helps you earn interest, and provides easy access to banking services.

Thanks to technological advancements, the process of opening a bank account in India has become faster, easier, and more flexible than ever before. If you’re exploring options and wondering how to open a savings account seamlessly, this comprehensive guide is here to help.

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Online vs offline: What’s the best way to open a savings account in India?
 

There are primarily two ways to open a savings account in India: offline and online. Each method has its benefits, and your choice depends on your preference for convenience, safety, and speed.

Aspect

Offline method

Online method

Benefits
  1. Face-to-face interaction, personal assistance
  2. Physical proof of application
  1. Skips the branch visit, highly convenient
  2. Quick, saves time and effort

Suitable for
  1. Those who prefer direct, in-person service
  2. People needing physical verification or proof
  1. Tech-savvy individuals who prefer digital processes
  2. Customers seeking swift account opening

 

Key considerations before opening a savings account
 

Before you decide on a bank and proceed to open a savings account, keep in mind these critical factors:

1. Interest rates
 

Look for accounts offering competitive interest rates, as this helps your savings grow faster. Banks like IDFC FIRST Bank provide high-interest savings accounts, ensuring your money earns more over time.

2. Charges and fees
 

Compare charges for transactions, ATM withdrawals, and other common savings account features. Some banks waive fees if you maintain the average minimum balance (AMB) requirement or opt for digital banking, reducing your overall banking costs.

3. Minimum balance requirement
 

Check the minimum balance required to avoid penalties. Many banks offer varied savings account types to match different financial or liquidity needs.

4. Accessibility
 

Consider how easy it is to access your account via mobile banking or net banking. A good savings account should come with a user-friendly mobile app for 24X7 access, seamless fund transfers, bill payments, and more.

5. Benefits and features
 

Banks now offer additional perks like free ATM withdrawals, cashback offers, spend-based rewards, and special savings schemes. Choose an account that offers features aligned with your financial goals.

How can you open a savings account offline?
 

To open a savings account in India by visiting a bank branch, you’ll need to carry a few essential documents. For instance, IDFC FIRST Bank typically requires the following:

  1. Official Valid Documents (OVD) like:
    1. Aadhaar card
    2. Passport
    3. Voter identity card
    4. Driving licence
    5. National Rural Employment Guarantee Act (NREGA) Job Card
    6. National Population Register (NPR) letter
  2. Recent photographs of the account holder
  3. PAN card or Form 60 for KYC compliance
  4. Initial funds deposit

You are eligible to open a savings account if you are a resident individual (sole or joint account holder), a foreign national residing in India with valid documentation, or part of a Hindu Undivided Family (HUF).

Simply walk into the nearest branch, fill out the account opening form, and submit these documents to get started.

Go digital: Open a savings account with IDFC FIRST Bank in minutes
 

If you prefer a completely digital accountopening process, IDFC FIRST Bank has your back. All you need are your Aadhaar and PAN card numbers to get started:

  1. Step 1:

    2. Visit the IDFC FIRST Bank Savings Account webpage and click on ‘Open Savings Account’.

  2. Step 2:

    3. Fill out all your personal information accurately.

  3. Step 3:

    4. Select the savings account variant of your choice. IDFC FIRST Bank offers two variants of ₹10,000 and ₹25,000 AMB.

  4. Step 4:

    5. Fund your account online using net banking, UPI, or other digital transfer options.

  5. Step 5:

    6. Schedule and complete your video KYC.

And that’s it! Your digital savings account will be ready, and you can start transacting in minutes.

Bank smarter with the IDFC FIRST Bank Mobile Banking App
 

Once your savings account is active, managing your money is easier than ever with the feature-rich IDFC FIRST Bank Mobile Banking App. Here’s what you can do:

  1. View all your bank accounts in one place using the account aggregator
  2. Open fixed and recurring deposits directly from your smartphone
  3. Scan any QR code to make lightning-fast UPI payments
  4. Pay and manage your bills, mobile recharges, and streaming subscriptions
  5. Track and categorise spendings for better financial planning

With everything just a tap away, the app helps you bank on the go - securely, smartly, and seamlessly.

Why choose IDFC FIRST Bank to open a savings account?
 

Opening a savings account in India is now more convenient than ever. With options like digital account opening, mobile banking, and fully online processes, you can skip the tedious branch visits and get started in minutes.

Some of the ways in which IDFC FIRST Bank stands out include:

  1. Competitive interest rates of up to 7% per annum with monthly interest credits
  2. Zero-fee banking on all savings account services
  3. Doorstep banking support and robust digital services for maximum comfort and control
  4. A quick and stress-free application process, whether online or at a nearby branch
  5. Complimentary health benefits for a year with MediBuddy on the savings account for women and senior citizens
  6. Auto sweep-in and sweep-out facility
  7. Preferential interest rates on fixed and recurring deposits
  8. Complimentary cyber insurance coverage worth ₹2 lakhs on senior citizen savings account
  9. Rewarding choice of debit cards with additional perks and privileges
  10. Recognised among the World’s Best Banks 2025 by Forbes in partnership with Statista

Ready to open your savings account? Get started with an IDFC FIRST Bank Savings Account and experience the future of banking today!

Frequently Asked Questions

How secure is mobile banking for savings accounts?

Mobile banking is highly secure when using trusted apps like the IDFC FIRST Bank Mobile Banking App, which has encryption, biometric login, and two-factor authentication. Always keep your app updated and avoid using public Wi-Fi for financial transactions.

What is video KYC in the digital account opening process?

Video KYC is a secure, real-time identity verification process used in digital account opening. A bank official verifies your documents and identity over a video call. IDFC FIRST Bank uses this method to help customers open a savings account quickly and securely.

What if I want to upgrade or change my savings account type later?

Most banks, including IDFC FIRST Bank, allow you to upgrade or switch between savings account variants. Depending on your needs, like higher interest or added perks, you can request this change through mobile banking or by visiting a branch.

How can I manage or upgrade my account as I get older?

As you grow older or your needs change, you can easily update your details through the IDFC FIRST Bank Mobile Banking App or by contacting customer support.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.

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