Indian Bank online account opening process has made it easier for individuals to open a zero balance savings account instantly with Indian Bank. IB DIGI – Online SB Account is the online savings account from Indian Bank. Besides the digital savings account, the bank also offers basic savings account, zero balance account, to individuals who don’t have a savings account with any bank.
Customers of the Indian Bank zero balance account don’t have to keep any minimum balance on a monthly or quarterly basis. Also, the zero balance feature is available for individuals residing in the urban and rural centres and no penalty is charged for not keeping any balance.
The minimum balance requirement of a regular savings account of Indian Bank is Rs.500.
In addition to no minimum balance, the Indian Bank zero balance account does not have any initial deposit. It means that one can open the savings account without any deposit. This is another advantage over regular savings account as most of the savings account has a minimum initial deposit requirement to open a bank account.
Customers of the zero balance accounts can avail ATM/debit card without any additional cost. A debit card is a convenient form of transactions. It is lightweight, secure and is easily accepted by various online and offline merchants.
Account-holders can also withdraw cash from the ATM for their cash requirement.
Customers of the Indian Bank basic savings account can undertake up to four free debit transactions in a month including ATM withdrawals. Online savings customers can withdraw up to Rs.10,000 per day for unlimited times at Indian Bank ATM and up to Rs.10,000 per day at other banks’ ATM.
The nomination facility is available for all customers of the Indian Bank zero balance account. Having a nominee is very helpful in times of sudden death of the account holder. The nomination is an important feature as it helps the family of the account holder to get the proceeds of the savings account or other related accounts such as fixed deposits, recurring deposits etc.
In case of basic savings account, customers need to add the nominee details on the physical form. Online nomination is available for Indian Bank IB Digi account customers.
IB Digi is an online savings that customers can instantly open through the bank’s website or downloading the bank’s android app.
Customers can open the bank account by using the PAN card, Aadhaar number and a phone number registered with Aadhaar. As they open the bank account after verification of your Aadhaar through the Aadhaar OTP, it is an e-KYC Account. Initially, the account comes with certain restrictions on the amount that customers can deposit or keep their account. They lift these restrictions after you complete the KYC process by visiting the bank branch.
Only one customer can open one Digi Savings account from one device and mobile phone.
You can click on this link to open Indian Bank digital savings account. Add your name, mobile number and email address you want to register with the bank.
Enter the OTP that you have received on your mobile number and click on Verify OTP. You will see a success pop-up at the top of the window.
Add your Aadhaar number. You will receive an OTP on your Aadhaar registered number. Add the OTP. After verification, it will fetch most of the account details from the UIDAI database. Just fill the other details such as your marital status, bank branch, father’s name, mother’s name etc.
Enter your PAN. Your PAN should be linked to your Aadhaar to verify your PAN. Click on Verify.
In the next step, you can add your communication address if it differs from your Aadhaar address. If both permanent and communication address is same, click on the box to make your Aadhaar address as your communication address.
Click on ‘Create SB account’ to open Indian Bank zero balance online savings account.
You will receive your account number and CIF number on your registered email address. You will find the process to complete the full KYC process on the same mail.
The Basic Savings Bank Deposit Account (BSBDA) is Indian Bank zero balance account that aims to cater to unbanked individuals to usher an era of financial inclusion. This basic savings account or zero balance account of Indian Bank provides basic banking facilities such as debit card, cheque without any minimum balance.
Indian Bank zero account opening can be done by filling up the account opening form that can be downloaded. One can fill the form and submit it with the attested identification, address proof and few passport-sized photos. Customers can also take the account opening form from the bank branch and fill it in the bank before submitting. Currently, online account opening of the basic savings account is not available.
IB DIGI – Online SB Account and Indian Bank Basic Savings Bank Deposit Account (BSBDA) are zero balance accounts.
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