Every bank has an account of all kinds of customers. They have different features and benefits which help them invest and keep their funds safe. It is not easy to store and safeguard money at home, firstly because there will be no funds for emergencies, and secondly, there is a fear of over-expenditure. It is safer to start saving for unplanned incidents and financial urgencies from the present day. No one has predicted the future, nor have they estimated the level of risk.

It is easy for people with a high net worth to save their money and earn some interest on the deposit with the help of a premium savings account. They can get multiple benefits, including high credit card limits, offers on travel and medical expenses, and opportunities to shop for premium items online. They also get a fee discount on car and housing loans.

Many people expect to get such rewards and discounts and wish to open premier savings account with a bank that they trust. With the introduction of digitisation, people are now carrying lesser physical cash and paying through digital modes for the products and services they buy. Following is the procedure to open this bank account:

• Download the application form online on the official website of the respective bank or collect it from the bank branch
• Please fill all the details before submitting it to the bank branch or on the website
• In the application form, customers will have the option to get SMS alerts, Internet Banking, Mobile Banking, Cheque book, Credit card and ECS
• Submit documents to support the application
• Customers are also required to make the initial deposit to open the bank account
• Upon fulfilling the eligibility criteria, and submitting the documents required and the deposit, the bank will open the savings account

What are the documents required for opening the account?

Individuals interested in opening a privilege savings account must submit KYC documents to the bank for verification. They should ensure that they are genuine and contain accurate details, failing which their application may get rejected. The following are the documents required to open the account:

• Two passport size photographs
• ID Proof (Passport, PAN card, Voter’s ID, Driving License, Job Card issued by NREGA and signed by an officer from the State Government, or Aadhar Card)
• Address Proof (Telephone Bill, Bank Statement, Electricity Bill, Ration Card, or Rent Agreement signed by the State Government)
• Proof of Date of Birth (Birth Certificate, Passport, Driving License, or PAN Card)

Once the bank verifies all the information, they will start processing the account opening request and provide the necessary banking kit which will include the chequebook, passbook, debit card, and password for accessing the mobile banking app. Access all transactions and also send requests to the bank using their personalised app for a hassle-free banking experience.