Question

Describe the procedure of opening a savings bank account in a bank.

Answer 1

Explanation:

Steps that are to be followed during opening of saving account-

*Select the Right Bank.

*Visit the Bank or Bank's Website.

*Decide the Type or Scheme of Savings account.

*Keep the KYC Documents Ready.

*Comply With Bank's KYC Rules.

*Fill out the Forms.

*Deposit the Initial Amount.

*It Inculcates Saving Habit.