Looking for Indian bank savings account opening procedure online? In this article I will be sharing the step by step guide to open a bank account in Indian bank with various details like interest rate, KYC procedure, types of savings account etc. Indian bank is one of the oldest bank in India and they offer kind of savings account, current account and various investment options.
- 1 Summary of Indian bank account opening process
- 2 Latest Indian bank savings account interest rate 2017
- 3 Eligibility Criteria to Open Indian bank Account
- 4 Types of Indian Bank Savings Account in India
- 5 What is Minimum Balance in Indian bank Savings account
- 6 Key Features of Indian Bank Savings Account
- 7 Documents Required to open bank account in Indian bank
- 8 Indian bank Application forms download links
- 9 Step By Step Process – Open Indian bank Savings Account
- 10 How To Open Zero Balance Account in Indian bank
- 11 Indian bank Balance enquiry by Missed Call or SMS or Toll Free Numbers
Summary of Indian bank account opening process
In this article, I will be sharing information like Indian Bank saving account form filling guide, Indian Bank saving account interest rate, Indian Bank minimum balance for current account, Indian Bank account balance enquiry or how to check account balance, cheque book request form download, Indian Bank online login & net banking guide at one place.
Latest Indian bank savings account interest rate 2017
Indian bank offers a nominal 4% interest on daily balance only. Its like every other SB account in India. But recently there are few banks who started providing very good interest rate on savings account and its even 7.25%, which is even better than fixed deposit scheme.
Eligibility Criteria to Open Indian bank Account
The eligibility criteria of opening Indian Bank account is very simple and clear.
- You must be a citizen of India and have not opened any savings account in your name with Indian Bank already.
- You should have PAN card to apply for a Bank account.
- Must be able to validate your KYC process with necessary address proof.
For more specific eligibility criteria, you must contact your nearest Indian Bank branch or call their customer care numbers.
Types of Indian Bank Savings Account in India
Choose from the various types of savings bank account available for Indian bank as per your needs. Make sure you have gone through the details, key features, interest rates, transaction charges and specially the terms & conditions if any.
- SB Gold
- SB Silver
- Foreign Currency Non-Resident Account
- Non-Resident External (Rupee) Account
- Non-Resident Ordinary Account
- Multicity Cheque Facility
- Resident Foreign Currency account for Returning Indians
- NRE FD/ RIP/ RD ACCOUNTS
- Capital Gains
- Premium Current A/c with Sweep Facility
- Current Account
- VIKAS SAVINGS KHATA – a no frills Savings Bank account
- SB Platinum with Sweep Facility
- SB – Power Account for Achievers (PAFA)
- IB Smart Kid SB a/c ( for children of age 1 day to less than 18 years)
What is Minimum Balance in Indian bank Savings account
|Type of Savings Account||Minimum Balance Required|
|Savings Bank||Rs.250 for non cheque operation|
Rs.500 for cheque operation
|Vikas Savings Khata||–|
|SB Platinum||MAB: Rs. 25,000|
|SB – Power Account for Achievers (PAFA)||MAB: Rs. 5,000|
|IB Smart Kid SB Account||Rs.100 for non cheque operation|
Rs.250 for cheque operation
|SB Silver||MAB: Rs. 5,000|
|SB Gold||MAB: Rs. 10,000|
Key Features of Indian Bank Savings Account
- ECS/RTGS/NEFT facilities are available
- Two cheque books of 2×20 leaves free in a calendar year for cheque operated SB accounts
- Collection of local cheques free
- Collection of Outstation cheques with the presecibed charges
- No charges for Intra city transactions
- ICOOC ( Local / Outstation) facility available
- ATM cards/Debit cards are provided free of cost
- 24 hrs ATM facility with arrangements with various banks for sharing of their ATMs
- Multicity cheque facility Intra city, intercity transactions,Internet/ mobile /phone banking facilities are vailable at all branches
- 50 withdrawals permitted free per half year
- No TDS on interest earned on SB deposits
Documents Required to open bank account in Indian bank
While opening a bank account, the requirement of documents is almost similar for every bank. You have to furnish address proof, identification proof and generally 2 passport size photographs. For for more details on this topic please refer to the article on documents required to open a bank account in India.
You can download various account opening or investment related application forms online from Indian Bank official website download link itself. Just follow the below website link and download the account opening forms, KYC forms and other necessary forms before visiting your nearest branch to open a SB account in Indian Bank.
Step By Step Process – Open Indian bank Savings Account
Here is a simple step by step guide to open your first savings account in Indian Bank.
- Visit to your nearest Indian Bank branch.
- Ask for savings bank account opening form.
- You can also download the bank account opening application for online.
- Now fill up the form with accurate details.
- Provide the photo copy of necessary documents.
- Submit the form with passport size photographs.
- Your account will be opened after proper verification.
Indian Bank Netbanking kit details and how to activate
After successful verification of your submitted application form, KYC form and necessary documents bank clerk will provide you the Indian bank savings account KIT. now this kit will have net banking use-rid and password. And also a Indian bank debit card with the ATM password and many other information related documents.
- Login to Indian bank net banking website and try your new userid and password.
- After successful login to your Indian bank net banking account, change the password immediately.
- Some banks ask to set up a transaction password or to set secret hint questions to provide extra security.
- Do the same as per the Indian bank’s terms & rules.
How To Open Zero Balance Account in Indian bank
Right now there is no such information on this topic, you can refer to Indian bank official website to find out the savings account with zero balance feature or you can also call Indian bank customer care number to find out more details on this.
Indian bank Balance enquiry by Missed Call or SMS or Toll Free Numbers
Use Indian bank missed call banking number 09289592895 for balance check and other banking activities. Or else you can also dial their customer care no: 1800 4250 0000 to banking assistance. Besides that, you can also apply for Indian Bank internet banking access & password, and the login to your net banking account. Through your Indian Bank net banking account you can easily add beneficiaries, transfer funds to any other account, IMPS transfer, address change, change your mobile number, download statement etc.
So, have you visited you nearest Indian bank branch to open your first bank account? Make sure you are carrying the mandatory documents like Aadhaar card, PAN card to make the process smooth and fast. If you are an Indian bank account holder then you can share your experience here by writing a comment below. Your experience and suggestion is always important for our readers.