Central Bank of India Online Account Opening : Step-by-Step Guide

Central Bank of India Online Account Opening : Step-by-Step Guide – Opening a savings account with Central Bank of India is now a breeze, thanks to their fully digital process. Using Video KYC, you can complete everything from home—no need to visit a branch. Below is a simple, step-by-step walkthrough for opening your account online, followed by a quick FAQ to clear up any questions.

Steps to Open a Savings Account Online in Central Bank of India

The Central Bank of India offers an easy 3-step journey for opening an Instant Savings Bank Account through its Video KYC process. Here’s how you can do it:

Step 1: Visit the Official Website

• Go to the Central Bank of India’s official website: https://www.centralbankofindia.co.in.

• Navigate to the “Digital Banking” section on the homepage.

• Select the option for “Open Savings Account Through Video KYC” or similar.

Step 2: Fill the Online Application Form

• Click on the link to start the online savings account application.

• Provide the required details, such as:

  • Full name

  • Date of birth

  • Mobile number (must be active for OTP verification)

  • Email address

  • Address details

  • PAN card number

  • Aadhaar number (mandatory for Video KYC)

• Choose the type of savings account you wish to open (e.g., Cent Bachat Khata, Cent Premium, Cent Bal Bhavishya, etc.).

• Review and submit the application form.

Step 3: Complete Video KYC

• After submitting the form, schedule a Video KYC session (available between 8 AM and 8 PM on bank working days).

• You’ll receive a link via SMS or email to initiate the Video KYC process.

• Ensure you have the following ready:

  • A stable internet connection

  • A device with a camera (smartphone, tablet, or laptop)

  • Original PAN card and Aadhaar card for verification

• During the Video KYC session:

  • A bank official will verify your identity and documents via a video call.

  • Show your PAN and Aadhaar cards when prompted.

  • Answer any questions asked by the official to confirm your details.

• If the session is interrupted due to connectivity issues, you can retry within 72 hours without refilling the application.

Step 4: Fund Your Account

• Upon successful Video KYC, you’ll receive a payment link via SMS or email to fund your account with an initial deposit (minimum INR 2,000 for most accounts).

• Make the payment through the provided link using a debit card, net banking, or UPI.

• The funds will be credited to your account within 48 hours of successful payment.

Step 5: Account Activation

• After verification and funding, your account will be activated.

• You’ll receive your account details, including account number and Customer ID (CIF).

• The bank may send a welcome kit (including a debit card and chequebook, if applicable) to your registered address.

• You can now register for internet banking or the Cent Mobile app to access your account.

Documents Required

To open an account online, you’ll need the following documents:

• Identity Proof: Aadhaar card (mandatory for Video KYC), PAN card, passport, voter ID, or driving license.

• Address Proof: Aadhaar card, passport, utility bill (electricity, telephone, gas, or water bill not older than three months), or ration card.

• Photograph: Recent passport-size photographs (usually uploaded during the application process).

• Additional Documents (if applicable): For minors opening a Cent Bal Bhavishya account, a birth certificate or proof of age is required. For pensioners, a Pension Payment Order (PPO) may be needed.

Eligibility Criteria

• Age: Individuals above 18 years can open an account independently. Minors (above 10 years for certain accounts like Cent Bachat Khata or up to 12 years for Cent Bal Bhavishya) can open accounts with a parent or guardian.

• Residency: Indian residents are eligible. Non-residents may need to provide additional documents as per FEMA guidelines.

• Initial Deposit: Minimum deposit varies by account type (e.g., INR 50 for Cent Bachat Khata, INR 250–1,500 for Cent Samvridhi based on branch location).

Types of Savings Accounts

The Central Bank of India offers various savings accounts to suit different needs:

• Cent Bachat Khata: A no-frills account with a minimum balance of INR 50 and no service charges for non-maintenance.

• Cent Premium: Designed for high-net-worth individuals with benefits like free debit cards, chequebooks, and discounts on loan processing fees.

• Cent Bal Bhavishya: For minors up to 12 years, opened with a parent or guardian, with a minimum deposit of INR 50 (rural/semi-urban) or INR 100 (urban/metro).

• Cent Param: For defense personnel (Army, Navy, Air Force) with exclusive benefits like free insurance and overdraft facilities.

• Cent Samvridhi: Offers an auto-sweep facility to transfer excess funds to fixed deposits, with a minimum quarterly balance of INR 25,000.

• Home Savings Safe Account (HSS): For small savings with flexible deposit and withdrawal options.

Frequently Asked Questions (FAQ)

Q1: Can I open a savings account online without visiting a branch?

A: Yes, the Central Bank of India’s Video KYC process allows you to open a savings account entirely online without visiting a branch. Ensure you have a valid Aadhaar card and PAN card for verification.

Q2: What is the minimum balance required for a Central Bank of India savings account?

A: The minimum balance varies by account type:

• Cent Bachat Khata: INR 50

• Cent Samvridhi: INR 250 (rural), INR 500 (semi-urban), INR 1,000 (urban), INR 1,500 (metro)

• Cent Premium: INR 25,000 (quarterly average) Check the bank’s website for specific requirements.

Q3: Is Video KYC mandatory for opening an online account?

A: Yes, Video KYC is mandatory for online account opening to verify your identity and documents securely.

Q4: What happens if my Video KYC session fails due to connectivity issues?

A: You can retry the Video KYC session within 72 hours without resubmitting the application. Ensure a stable internet connection and retry between 8 AM and 8 PM on bank working days.

Q5: Can minors open a savings account online?

A: Yes, minors up to 12 years can open a Cent Bal Bhavishya account online with a parent or guardian. The parent/guardian must complete the Video KYC and provide the minor’s birth certificate or age proof.

Q6: Are there any charges for not maintaining the minimum balance?

A: For accounts like Cent Bachat Khata, there are no service charges for non-maintenance of the minimum balance. Other accounts may incur charges depending on the branch location and account type. Refer to the bank’s website for details.

Q7: How long does it take to activate my account after Video KYC?

A: Once Video KYC and initial funding (via the payment link) are completed, the account is typically activated within 48 hours.

Q8: Can I open a joint account online?

A: Yes, joint accounts can be opened online, but all applicants must provide their identity and address proofs. The primary applicant completes the Video KYC, and additional applicants may need to provide documents via email or during the KYC process.

Q9: How do I track my account opening application status?

A: After submitting the online application, you’ll receive a reference number. Visit the Central Bank of India’s website, navigate to “Check Status” under the account opening section, and enter the reference number to track your application.

Q10: What should I do if I face issues during the account opening process?

A: Contact the Central Bank of India’s customer care at 1800-22-1911 or email vkyc1@centralbank.co.in for assistance. You can also visit the nearest branch for support.

Website – https://www.centralbankofindia.co.in/en

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