IndusInd Bank offers the facility of opening savings account through video KYC as it simplifies the on-boarding process for new customers. It also replaces the existing practice of physical authentication of documents. Let us know more about IndusInd Bank Savings Account with Video KYC in detail.
Benefits of Opening IndusInd Bank Savings Account with Video KYC
Following are the benefits of opening an IndusInd Bank Savings Account with Video KYC:
- Minimum documentation required to open your account
- Allows easy access to your funds from anywhere at any time
- Offers banking at your convenience
- Zero balance requirement
Steps to Open IndusInd Bank Savings Account with Video KYC
Follow the steps mentioned below to open IndusInd Bank Savings Account with Video KYC:
Step 1: You need to initiate the journey by clicking on a link received via SMS/email
Step 2: You will be directed to the Video KYC webpage. Enter your mobile number and you will be authenticated through an OTP sent on the same number
Step 3: Once the authentication is completed, you will be connected to the bank agent who will collect KYC data such as – PAN, photograph, signature, etc.
Step 4: Once all details are validated by the agent, your KYC formalities will be completed within a few hours as per the bank’s processes
Documents Required for IndusInd Bank Savings Account with Video KYC
Following documents are required for IndusInd Bank Savings Account with Video KYC:
- Aadhaar Number/Virtual ID
- PAN Card
- Mobile Number
Things to Know About IndusInd Bank Savings Account with Video KYC
You must keep the following things in mind about IndusInd Bank Savings Account with Video KYC:
- A smartphone/desktop with a stable mobile network connection is mandatory
- You must be physically present in India during the video process
- Keep your Aadhaar Card and PAN Card handy
- The room must be well lit during the video call with the bank agent
Frequently Asked Questions
Q. Is it mandatory to be physically present in India during video KYC?
Yes, you must be physically present in India during the video KYC.
Q.What are the charges for opening an IndusInd Bank Savings Account with Video KYC?
The bank does not charge any fees for opening an IndusInd Bank Savings Account with Video KYC.
Q.What are the video KYC Norms by the Reserve Bank of India?
The Reserve Bank of India has set various norms such as the process should be undertaken live using a secured network, the video KYC is allowed to carry out only via a bank’s website or its mobile application, etc. For more information, please refer to RBI official website.