– Proof of age and identity: Documents that are accepted by the banks as proof are PAN card, Voter ID, Passport, Driving licence, or Aadhaar card. – Recent passport-sized photographs are required by banks or financial institutions.
What documents do you need to open a bank account in India?
Savings Bank Account
- (a) Proof of identity (any of the following with authenticated photographs thereon): (i) Passport. (ii) Voter ID card. (iii) PAN Card. (iv) Govt./Defence ID card. …
- (b) Proof of current address (any of the following) (i) Credit Card Statement. (ii) Salary slip. (iii) Income/Wealth Tax Assessment Order.
What is the eligibility criteria for opening a bank account in India?
All Indian residents above the age of 18 years having valid KYC documents are eligible to open a Savings bank account. Hindu Undivided Family and foreign nationals can also open a Saving bank account. Singly, jointly, or with Either or Survivor, Former or Survivor, anyone or Survivor etc.
How can I open a bank account in India?
How to Start a Bank in India
- The banks need to provide a minimum paid-up capital of INR 200 crores to start with. …
- At any time, the promoters of the banks will be required to pay at least 40 percent of the bank’s paid-up capital.
Is Aadhaar card enough for opening bank account?
For opening a bank account you need certain documents. Without them, you cannot open a bank savings account. Documents that you need to open a savings account in a bank are – your valid photo identification proof like Aadhaar card or PAN card, passport, driving license etc.
Can I open a bank account at 17 by myself?
Unfortunately, if you’re 17 and you want to open a bank account, you’ll need an adult to help. … Banks won’t open accounts for minors, without a parent or guardian or somebody over the age of 18 to be a co-signer on the account.
Who are eligible for bank account?
The following people are eligible to open a Regular Savings Account:
- Resident Individuals (sole or joint account)
- Hindu Undivided Families.
- Foreign Nationals Residing in India*
- Minor above the age of 10 years are eligible to open self operated minor account and an ATM/Debit card can be issued to the Minor.
What is the minimum balance in Indian bank?
Indian Bank Savings Bank Account
|Initial Deposit Requirements||Nil|
|Minimum Amount||Minimum amount for non-cheque operation is Rs.250/- Minimum balance for cheque operation is Rs.500/- Pensioners and bonafide students may have lesser minimum balance|
|Debit Card Offered||Free ATM cards/Debit cards provided|
What is the minimum balance in SBI?
SBI, the country’s largest bank, on Wednesday announced a waiver on maintaining the average minimum balance (AMB) requirement for all savings bank accounts. Currently, there is an AMB of ₹ 3,000, ₹ 2,000 and ₹ 1,000 in metro, semi-urban and rural areas, respectively.
Which bank account is best in India?
Top Banks that have the Best Savings Account for Individuals
- State Bank of India (SBI) Savings Account.
- HDFC Bank Savings Account.
- Kotak Mahindra Bank Savings Account.
- DBS Bank Savings Account.
- RBL Bank Savings Account.
- IndusInd Bank Savings Account.
What are the 7 steps to open a bank account?
Requirements to Open a Bank Account
- Locate an Enrolment Center. …
- Book An Appointment At Unique Identification Development Authority of India’s Aadhaar Seva Kendra. …
- Check Aadhaar Status. …
- Download Your Aadhaar. …
- Apply Via a PAN Application Center. …
- Apply Online.
Which bank is best in India?
Top 10 Banks in India
- HDFC Bank.
- State Bank of India.
- ICICI Bank.
- Axis Bank.
- Kotak Mahindra Bank.
- IndusInd Bank.
- Yes Bank.
- Punjab National Bank.
Can I open a private bank?
Two main guidelines to open the bank are; the aspirant entity / group should have total assets of Rs. 50 billion or more and the initial minimum paid-up voting equity capital for a bank shall be Rs. 5 billion. In the other words; the bank shall have a minimum net worth of Rs.
Can I open zero balance account in bank of India?
No, you can access your zero-balance savings account via the internet and phone banking facilities, at an ATM and at the bank if required.
Latest Interest Rate for Zero Balance Savings Account.
|Bank||Name of zero-balance savings account||Interest rate|
|State Bank of India||Basic Savings Bank Deposit Account||3% to 3.25%|
How much money is needed to open a bank?
RBI’s new bank licensing norms: Corporates will need a minimum capital of Rs 500 crore to open a bank – The Economic Times.