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.

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