online bank account

Financial institutions and banks work tirelessly to provide customers convenient products they can operate seamlessly from anywhere. Opening a Savings Account online is one of them. It ensures you can easily open an account from the comfort of your space. 

It also does away with the problem of travelling to your chosen bank or waiting for hours in a queue.Let us discuss an online Bank Account and understand its advantages.

Overview of an online Bank Account

A Savings Account you can conveniently open and manage online is typically called an online Bank Account. You need not wait in line for hours, fill out a lot of paperwork, or travel to your bank to open such an account. Instead, you can open the account online from anywhere and anytime.Today, you can conveniently open the account online using these simple steps:

  • Visit the website of your chosen bank or download their Banking app on your smartphone.
  • Follow the designated steps. For a smoother process, keep copies of your ID and address proof handy. Also, keep your PAN card ready for the procedure.
  • To improve the process, use the video-KYC option.
  • Once the bank verifies the details, it opens your account at the earliest. The processing is usually fast. In addition, you receive your details on the registered email address. 

Once you get the details, you can conveniently use your online Savings Account on the Internet Banking platform.


When you open your Bank Account online, you can enjoy numerous benefits. These include the following:

  • Round-the-clock availability

With Online Banking, you can access your banking services 24*7. This advantage lets you manage your finances from anywhere.

  • Transfer funds online

When you open Bank Account online, you can enjoy the benefits of transferring money to payees globally using online fund transfer channels. For example, you can transfer funds using RTGS, IMPS, etc. Some banks even let you send money overseas at preferential conversion rates, zero handling charges, etc.

  • Pay your bills on time

You can register your billers on the account and pay your gas, electricity, Insurance, and other utility bills on time. You can determine the status of your bills manually. You can also schedule your payments.

  • Grow your money

Opening a Savings Account enables you to save your hard-earned money. It also lets you grow your money by availing attractive Savings Account interest rates on your account. 

  • Invest conveniently

Once you open your account, you can choose from Mutual Funds and Term Deposits to invest your money.


An online Bank Account is easy to open and manage. It also offers various features and benefits. So, if you want to save while enjoying a ton of advantages, opening such an account online can be beneficial.