IDFC First Bank Savings Account with Video KYC
IDFC First Bank is a major private limited banking company in India. Established in 2014, the IDFC First Bank serves its customers with efficient banking services. As part of digital banking, the IDFC First Bank provides video KYC for opening a savings account.
This method makes opening a new savings account easier and more convenient for the customers. Learn more about the video KYC method and the ease with which it allows you to open a savings account in this article.
IDFC First Bank Savings Account with Video KYC: Features
The IDFC First Bank offers a completely paperless digital documentation process, which is smooth and seamless. It is not as time-consuming or inconvenient as the traditional method of KYC. Your savings account gets activated as soon as the video KYC is completed. The customer data is also protected with advanced technology.
Benefits of Opening an IDFC First Savings Account with Video KYC
There are many benefits and advantages to being able to open a savings account with video KYC. For opening an account, the KYC process is an integral part of the procedure. It helps the bank to verify the account holder. Through the video KYC, the process is made simpler and convenient for the customer.
The key benefits of opening a savings account with video KYC are as follows:
- Allows you to open a savings account with no maximum account balance limit.
- The video KYC process will take no more than 2 minutes to finish.
- The paperless video KYC process ensures the security of customer data.
- Cash back offers on account activation, free and unlimited ATM transactions, and higher POS limits are offered.
How to Open an IDFC First Bank Savings Account with Video KYC
- The process to open an IDFC First Bank savings account using video KYC is reasonably simple.
- When an IDFC First Bank savings account is opened online, the applicant will be sent a user-specific video KYC link.
- The bank representatives will complete the KYC on a video call with the customer.
Things to Note About IDFC First Bank Savings Account with Video KYC
- There are some things to note before opening an IDFC Bank savings account via video KYC.
- First, the process should be undertaken live using a secure network. This fact is of utmost importance.
- The video KYC is only supposed to be carried out on the IDFC Bank website or its mobile application.
- And the customer should not leave the website or mobile application without completing the process.
- They should also be physically available in India while applying for the savings account.
- Ensure that the internet connection is stable and uninterrupted.
Documents Required for IDFC First Bank Savings Account
- To open a new savings account with IDFC First Bank, you are required to have the documents listed below. They are:
- Aadhaar number/virtual ID
- Mobile number
- PAN
FAQs on IDFC FIRST Bank Video KYC
- What is video KYC?
Video KYC refers to the process of verifying customers remotely with live video calls.
- What are the benefits of opening an IDFC First Bank savings account with video KYC?
Opening an IDFC First Bank savings account with video KYC offers many benefits, including an easy verification process, cashback offers on activation, and free and unlimited transactions.
- What documents are required to open an IDFC First Bank savings account with video KYC?
To open an IDFC First Bank savings account with video KYC, you must have your Aadhaar number, PAN, and your registered phone number for Aadhaar authentication.
- What are some things to note while opening an IDFC First Bank savings account with video KYC?
You must ensure that you have a secure and uninterrupted network, and that you are physically present in India at the time of application.
- Are there any charges for opening an IDFC First Bank savings account with video KYC?
No, there are no special charges for opening an IDFC First Bank savings account with video KYC.
Prerna Surana is a Finance Content Writer with over three years of experience at Bank Bazaar. She specialises in creating insightful content on Credit Cards, Debit Cards, Taxes, and other BFSI products. Beyond finance, Prerna also writes about non-financial utility products such as Aadhar Card, Voter ID, and Government Certificates.
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