How to Open a Savings Account

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Step-by-step guide on how to open a savings bank account

Key Takeaways

• A Savings Account is a fundamental instrument to deposit your savings in a secure institution.
• You can open a Savings Account without having to visit the bank.
• Download the digibank app and complete your account opening process.
• Complete your KYC process by simply uploading scanned copies of your PAN, ID, and address proof documents.
• Enjoy exclusive banking services with your DBS Bank Savings Account.

A Savings Account is your first investment instrument. You can deposit and withdraw funds anytime and earn interest on your deposits. The account opening process for a Savings Account is straightforward and involves hassle-free online documentation. At DBS Bank, we enable you to open New Savings Accounts online from the comfort of your home. If you want to save time and learn how to open a Savings Bank Account online with DBS Bank, keep reading.

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How To Open a Savings Account Online

The steps to open a Savings Account online with DBS Bank are simple. Here’s what you need to do:

1. Visit the DBS Bank website or download the app

   Visit the DBS Bank website and click on Open Savings Account, where you will find a Quick Response (QR) code. The QR code redirects you to our mobile application, available on the Android Google Play Store or the Apple iOS App Store. Download the DBS Bank app on your internet-enabled smartphone

2. Fill the online Savings Account opening form

   Once you log in on the DBS Bank app, you need to fill a small online form. You need to provide your basic details like your name and mobile number in this form.

3. Submit scanned copies of your documents

   Submitting bank account documents is the next step for how to open a savings account online. You only need to provide scanned, self-attested copies of the following

   • PAN Card (or Form 16 in the absence of PAN)
   • 1 ID Proof document: Aadhaar, Passport, Driver’s License, Voter’s ID, etc.
   • 1 Address Proof document: Aadhaar, Passport, Driver’s License, Voter’s ID, Rental Agreement, etc.
   • A copy of your digital signature
   • 2 recent passport size photographs.

   Ensure you provide all the documents required for opening bank account to conveniently open your new Savings Account with DBS Bank in minutes.

4. Complete the digital KYC process

   The bank verifies your documents via a video call on your provided mobile number. A DBS Bank representative will call you to complete the online video e-KYC process. You must give access to your camera, location, and location, smartphone microphone to complete this step.

5. Explore your DBS Bank Savings Account

   After completing the eKYC process, the bank begins your account opening process. DBS Bank will open your account almost instantly, and you will receive your account number and other details in your email. You can now deposit the required minimum monthly balances. You can also create your internet banking account and initiate fund transfers. The bank also sends your free cheque book and international ATM-cum-debit card within a few days at your registered address.

How to open a DBS Bank savings account in minutes | DBS Bank quickies

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Open Savings Account
in 3 easy steps

Aadhar Card + PAN Card + Video KYC
= Account opened!

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Final Note

Now that you know how to open a Savings Account with DBS Bank, why wait. Become a part of the DBS Bank family to enjoy a world of benefits, including easy international remittances, swift domestic transfers, daily high withdrawal limits, and more. Get access to exclusive brands across travel, lifestyle, dining, utilities, etc., as a DBS Bank Savings Account holder.

With the digibank by DBS app, you can open a new Savings Account in a few minutes! Download the app to get started.

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*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.