What is an Insta Save Account?

January 04, 2021

What is an Insta Save Account?

Opening a Savings Account is now easy with an Insta Save Account. Read on to know more.

Though online and Mobile Banking pretty much existed for a long time, but it has advanced a lot more owing to the whole pandemic situation. What seemed to be a big ordeal while opening a Savings Account, now takes only 5 minutes through the online mode. In fact, many people are keen to open a Savings Account online right from their home, rather than visiting the bank branch.

 

ICICI Bank has launched Insta Save Account, which is an Aadhaar-based Instant Savings Account service intended for people looking to open a Savings Account online. With this facility, candidates can open the account through iMobile-Pay or Net Banking and later on, for a Video Know Your Customer (KYC), a bank representative will carry out a compliance check. Online completion of KYC is instant and paperless. 

Below are the pre-requisites for Video KYC:

  • Applicable for Indian Residents only
  • Stable internet connection 
  • Original copy of PAN Card 
  • Blank white paper with a blue or black pen
  • Ample light and clear background

All the procedures of opening an instant online Savings Account is conducted as per your convenience, without the need to visit ICICI Bank. Your Aadhaar Card should be linked to your registered Mobile Number without which, you cannot open an online Savings Account instantly.

Unlike the earlier days when you had to stand in a queue at a bank for opening a Savings Account, the Insta Save Account takes no more than 4 minutes for the same. To initiate the process, follow the steps below:

  • Visit the official website of ICICI Bank for Insta Save
  • Go to Accounts > Savings Account > Insta Save Account page
  • Click on Apply Online tab appearing on the top right corner
  • Fill in the details such as your phone number, e-mail ID and PAN Card
  • Once you submit the details, you will receive an OTP on your mobile
  • The account will be opened based on the OTP sent to your mobile number linked with your Aadhaar Card
  • Once the mobile number is verified, you are required to fill all the account related documents online
  • The account will be opened within 4 minutes basis your Aadhaar and KYC-compliance, after which you can start transactions immediately.

Once the process of instant online Savings Account is complete, the account gets activated immediately. The account holder will receive the account number and a virtual Debit Card, so that customers can start making payments online immediately, through iMobile-Pay application or Internet Banking.

Terms and Conditions apply.

 

DISCLAIMER

The contents of this document are meant merely for information purposes. The information contained herein is subject to updation, completion, revision, verification and amendment and the same may change materially. The information provided herein is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would (by reason of that person‘s nationality, residence or otherwise) be contrary to law or regulation or would subject lClCl Bank or its affiliates to any licensing or registration requirements. This document is not an offer, invitation or solicitation of any kind to buy or sell any security and is not intended to create any rights or obligations. Nothing in this document is intended to constitute legal, tax, securities or investment advice, or opinion regarding the appropriateness of any investment, or a solicitation for any product or service. Please obtain professional legal, tax and other investment advice before making any investment. Any investment decisions that may be made by you shall be at your sole discretion, independent analysis and at your own evaluation of the risks involved. The use of any information set out in this document is entirely at the recipient's own risk. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith by lClCl Bank and from sources deemed reliable. There can be no assurance that such projections will prove to be accurate. lClCl Bank does not accept any responsibility for any errors whether caused by negligence or otherwise or for any loss or damage incurred by anyone in reliance on anything set out in this document. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith and sources considered reliable by lClCl Bank. In preparing this document we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us or which was otherwise reviewed by us. Past performance cannot be a guide to future performance. 'lClCl ' and the 'I-man' logo are the trademarks and property of lCICl Bank. Misuse of any intellectual property, or any other content displayed herein is strictly prohibited.

Comments()