Digital lockers allow you to store important documents and financial information in digital format i.e. on the cloud.
These e-lockers allow you to store, sign and share your important documents, like your Permanent Account Number (PAN), voter ID, school and university certificates etc, in an electronic format. By doing so, you can access your data from anywhere and at any time. You can also sign an e-document and upload it online.
How does it work?
Here’s a simple three-step-guide on how to store your financial records online:
Step 1: Digital locker services are provided by the government, banks and even private companies. The process to sign up for a digital locker might differ with each service provider, but here’s the typical way to go about it.
Go to your preferred digital locker service provider’s website and navigate to the account opening page. You will need your Aadhaar number to open a digital locker account. Once you enter your Aadhaar number, a one-time password (OTP) will be sent to your Aadhaar-linked mobile number. You can change the password once the account is created.
Step2: Once the registration process is over, you can start uploading your financial documents such as Permanent Account Number (PAN), voter ID, school and university certificates, mark sheets etc.
Step 3: Click submit and you are done! Your documents are safe and secure in your digital locker.
Besides ease of use, digital lockers are extremely convenient. Here’s an example:
You have to submit the necessary KYC documents to get a passport. Instead of going the traditional way of submitting bundles of papers, you can take the faster and smoother digital route. Just give the passport office your Aadhaar number and send them your digitally verified documents online.
On signing up, you get 1GB storage on the cloud to keep documents like your PAN Card, Passport and other important certificates safely.
BankBazaar has gone digital too. We have paperless application process for Personal Loan. Want to check us out? Click here.