Bank Account today is as important as having a (roti, kapda and makan) meal, cloths and shelter.
In India various banks are offering number of personal and business banking products to Indian citizens and residents, including savings accounts with as much as 3.5 percent interest per annum. These accounts also include ATM cards. While online banking services are also available for customers.
Bank Account is compulsory required for
- Investments in Share Market (because for investments you have to open demat and trading account)
- Investments in Mutual Funds
- For ATM debit Card
- For Credit Card
Bank Account document can be use for
- Address Proof
- Photo Proof
How to open Bank Account
Visit the Bank website in which you want to open a Bank Account to get the contact details
Call or visit the branch of your choice to open a account. You will need rupees, a check or a money order to open the account. The usual minimum opening requirement for a savings account with State Bank of India is 1,000 rupees.
Provide the bank representative your photo identification, and tell him your personal information, such as full name, address, phone number or e-mail address.
You also can request an international ATM card that is valid outside of India, but there may be a monthly fee.
Receive your passbook and temporary password to access your accounts online. You should receive your ATM card and further account information in the mail within 10 to 20 business days.
Documents required to open a Bank Account
- Photo Id Proof
- Address Proof
- Pan Card