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Punjab & Sind Bank has taken a lot of digital initiatives to facilitate its customers and provide banking facilities to masses. Now in order to expand the customer reach, Bank has launched online savings account opening. This online account opening functionality is based upon Aadhaar OTP based authentication. The online account comes with a bundle of features including Instant issuance of Virtual Debit Card, Instant activation of PSB UnIC. On successful account opening, customer will get a welcome kit on its email ID having the account details such as Customer ID, Account Number & Branch Details. Along with this, customer will get a Bank Token to complete its registration without visiting the branch. On successful account opening, customer will be able to instantly start transacting through digital banking. The customer will be able to fund his account using account details or UPI ID and will also be able to perform debit transactions using virtual debit card, UPI, IMPS and MMID The salient features of the account are 1. Zero Balance Account 2. No need to provide the physical documents at the time of account opening. 3. No need to be physically present in the branch while opening the account. 4. Instant UPI ID & Virtual Debit Card will be issued at the time of account opening. 5. Easy access provided to register on PSB UnIC, without visiting the branch. 6. Aggregate balance of all the deposit accounts allowed upto Rupees one lakh. 7. Aggregate of all credits in a financial year, in all the deposit accounts taken together, allowed upto Rupees two lakh. 8. Complete your full KYC through your nearest Branch within one year of account opening. What are the minimum requirements for opening the account? 1. Customer must be having a valid Aadhaar and PAN. 2. Name on the Aadhaar and PAN should be the same. 3. A valid mobile number should be linked with the Aadhaar to receive the Aadhaar generated OTP on the mobile. 4. Only new customers will be allowed to open online savings account through this functionality, the mobile number, Aadhaar number and PAN number being used to open the account should not be linked in any existing account of Punjab & Sind Bank. So, let us start the account opening process now New Customers may initiate online account opening process by visiting PSB UnIC portal through our website punjabandsindbank.co.in or through PSB UnIC app. First, Customers will open punjabandsindbank.co.in and will open PSB UnIC portal by clicking on PSB UnIC icon on upper right corner of the website. Here on PSB UnIC portal, customer will click on “Open Now” button provided in Open PSB Digital Account title under retail section. Now on new screen, customer will again click on “Open Your Account Now” button. On the first screen, customer will be asked to enter its name, Mobile number and Email ID and will click on “Continue” to proceed. Customer will be asked to validate the mobile number and email ID by entering the OTP sent on mobile and email address of the customer On the next screen, Customer will be asked to enter the Aadhaar Number and PAN on the next page. After entering Aadhaar and PAN, customer will click on continue button and customer will receive an OTP from UIDAI-Aadhaar. After entering the OTP and giving the required consent, customer may click on continue to proceed. On successful validation of Aadhaar and PAN, user will be redirected to “6-step account opening procedure”. On Step-1 of account opening, customer will be shown the data fetched from Aadhaar and will be asked to select their marital status, community and category. After checking all the details and selecting the required fields, users will click on the “Next” button to proceed to Step-2 of the account opening. On step-2 of account opening, fathers name and mothers name will be asked. Further, customer will have to enter the communication address or customer may also choose the option Same as applicant permanent address. Then customer will select his/her occupation, annual income. Now, customer will be asked to select the Aadhaar linking/ Seeding declaration, customer may choose to receive DBT benefits in this account or may choose not to receive DBT benefits in this account. After entering all the details on step-2, customer will click on “Next” button to proceed to step-3. On Step-3 of account opening, customer will choose the base branch for opening of the account. Customer will be able to search the branch on the basis of Pin Code or State and City combination. If customer search on the basis of PIN Code then customer will enter Pin code and will click on verify button. All the branches corresponding to the PIN code will be shown to the user in the drop down. Customer will choose the branch from the drop down to proceed further. On the other if user chooses to search using State & City then, Customer will Choose State from State drop down. List of All the cities having PSB branches will be shown to the user, customer will choose a city and then a list of branches under the city selected will be shown. Customer will choose the branch from the Branch drop down to proceed further. After selecting the branch, customer will click on the “Next” button to proceed to Step-4 of Account Opening. On Step-4 of account opening, Customer may choose to appoint a nominee for the account being opened. User will enter the nominee name, relationship with the nominee, Date of Birth of the nominee, address of the nominee. If the address of the nominee is same as of depositor, then customer may tick the option “Same as depositor permanent address”. Further, if nominee is minor, customer will be asked to enter the guardian details such as: Guardian name, guardian relationship, guardian address etc. After entering the required details, customer will click on “Next” to proceed to step-5. On Step-5 of account opening, Customer will be asked to create a UPI ID for the said account. Customer will enter any VPA of his/her choice and will click on the check availability button, if the UPI ID is available, then a green tick along with Available status will be shown. After selecting VPA, customer will click on the “Next” button to proceed to Step-6. On Step-6 of account opening, Customer will be asked to choose the type of account he/she wants to open. However, as of now only PSB Digital Savings Account is available, so customer will choose the same. After reading, accepting the required terms and conditions, customer will click on the next button. Now, customer will be shown a summary screen with all the details fetched from Aadhaar, PAN and details entered by the user. After going through all the details, customer will click on “Submit” button. Customer’s account will be opened instantly, customer ID, account number, branch details and UPI ID will be shown on the screen. All the relevant details will be shared with the user over email.