Bandhan Bank Account Opening Process | Bandhan Bank Account Opening Form | Savings Account Interest Rates at Bandhan Bank | Types of Bandhan Bank Savings Accounts
Bandhan Bank provides a wide range of financial services and products to its customers, ranging from loans to fixed deposits and other accounts. The bank’s influence has grown across the country, but it still focuses on the eastern and northeastern parts of the country. The bank is aiming to provide the highest quality financial services and products to the residents of these areas. This article will provide you with details related to the Bandhan Bank Account Opening and other details.
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Bandhan Bank Account Opening
The bank began delivering services to its customers through its roughly 500 locations on the first day. The bank is continuing to grow and expects to have over 2,000 branches open by the end of March 2016. Most of its branches are in rural areas and places that have often been overlooked when it comes to banking services, in keeping with its mission to make financial services accessible to all. The bank has a variety of products to meet the needs of its customers, one of which is a savings account. In order to encourage people to save, Bandhan provides competitive interest rates.
Savings Account Interest Rates at Bandhan Bank
| Daily Balance | Rate of Interest (p.a.) |
| Up to Rs.1 lakh | 3.00% p.a. |
| More than Rs.1 lakh up to Rs.10 crore | 6.00% p.a. |
| More than Rs.10 crore up to Rs.50 crore | 6.55% p.a. |
| More than Rs.50 crore | 7.15% p.a. |
Note: The interest rates listed above are effective as of September 7, 2020.
Minimum Balance Requirements On Bandhan Bank Account Opening
The Minimum Balance Requirements On Bandhan Bank Account Opening are as follows:
| Savings Account Type | Average Monthly Balance Requirement |
| Premium Savings Account | Rs. 1, 00, 000 |
| Advantage Savings Account | Rs. 25, 000 |
| Sanchay Savings Account | Rs. 2, 000 |
| Standard Savings Account | Rs. 5, 000 |
| Special Savings Account | Rs. 5, 000 |
| GOS Savings Account | Nil |
| TASC Savings Account | Nil |
| BSBDA Savings Account | Nil |
| BSBDA-Small Savings Account | Nil |
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Types of Bandhan Bank Savings Accounts
- Bandhan Bank Premium Savings Account: The Bandhan Bank Premium Savings Account offers accountholders a variety of benefits and premium services, including free phone banking, fund transfers, and checkbooks. Holders will also receive discounts on shopping and dining, as well as invitations to other events such as exhibitions and concerts.
- Advantage Savings Account: With the Bandhan Bank Advantage Savings Account, you’ll get a greater rate of interest and a higher transaction limit, as well as access to services like branch banking and internet banking. Take advantage of features like free cash withdrawals at ATMs and fast financial transfers.
- Sanchay Savings Account: The Bandhan Bank offers a Sanchay Savings Account. Sanchay Savings Account members have access to a variety of services that make banking simple and convenient. Net banking and mobile banking allow you to keep track of your account balance and spending from anywhere, at any time. Enjoy all of the benefits of a premium account without having to keep a large balance, such as SMS alerts and branch banking.
- Standard Savings Account: Start saving with the Bandhan Bank Standard Savings Account and take advantage of perks and benefits like high-interest rates, a minimum balance requirement, and a variety of services. Use internet banking to make banking transactions more convenient, and use transaction alerts to keep track of your account balance. Benefits include online fund transfers and phone banking.
- Special Savings Account: The Bandhan Special Savings Account is a one-of-a-kind offering for the differently-abled that provides them with banking services at a low cost. Account users have access to a variety of complimentary services, including mobile banking, home delivery of cash and checks, and internet banking. In addition, holders will receive a Debit card with no yearly fees.
- GOS Savings Account: This bank’s offering is specifically designed for Central and State government departments, and it provides them with subsidies and grants. There is no minimum balance requirement, and account holders will have access to services such as doorstep banking, free Demand Drafts, and free internet banking.
- TASC Savings Accounts: The Trust, Association, Society, and Club (TASC) Savings Account is designed for non-profit organizations and provides them with specific services such as local check collecting, doorstep banking, and 60 free cheque leaves every quarter. A complete set of rules for opening an account can be found on the bank’s website.
- Basic Savings Bank Deposit Account (BSBDA): This account is for people who want to keep a savings account but don’t want to worry about keeping a balance. This is a no-frills account with no minimum balance that comes with a free debit card.
- Basic Savings Bank Deposit Account- Small: This account is for people who want to open a savings account but don’t have the required papers. Such individuals can create an account, but withdrawals and deposits are restricted (for more information, please see the bank’s website or contact a branch).
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Bandhan Bank Account Opening Process
- Individuals interested in opening a savings account with Bandhan Bank have two options: online account opening or offline account opening.
- Applicants can open a Savings Account online by going to the bank’s official website and clicking on the Savings Account tab under the “Products” section.
- They can select the kind of Savings Account they want and then click “Apply.”
- They will be directed to a page where they must input their information, after which a bank representative will call them to discuss the possibility of opening an account.
- You can also select to download the application forms and complete the necessary fields. The completed forms can be dropped off at a Bandhan Bank branch near you, where the information will be verified.
- The account holder will get a Starter Kit and can begin utilizing the Savings Account once the bank has completed its requirements.
- If you don’t have access to the internet, you can open a Savings Account by visiting a bank branch and filling out an Account Opening Form.
- The application must fill in the needed information and send the completed form to the branch, where the information will be verified and the applicant’s Starter Kit will be issued.
Eligibility Criteria for Bandhan Bank Account Opening
Indian people are eligible to open a Savings Account with the bank. The following are the eligibility requirements for Bandhan Bank Savings Accounts:
- Hindu Undivided Families
- Individuals (singly or jointly)
- Trusts, associations, government bodies, religious institutions, clubs, etc
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Documents Required for Bandhan Bank Account Opening
When opening a savings account, the following documents must be submitted:
- Proof of identity
- Proof of residence
- Photographs
- Proof of identity documents
To start a Savings Account, any of the following documents can be used as proof of identity:
- Voter’s ID card
- Permanent Account Number (PAN) card
- Passport
- Government-issued photo identity
- Driving license