Bank Savings Account - Bank Savings Account can be opened for eligible person / persons and certain organisations / agencies (as advised by Reserve Bank of India (RBI) from time to time)
Bank Current Account - Bank Current Account can be opened by individuals / partnership firms / Private and Public Limited Companies / HUFs / Specified Associates / Societies / Trusts, etc.
Bank Term Deposits Account - Bank Term Deposits Account can be opened by individuals / partnership firms / Private and Public Limited Companies / HUFs/ Specified Associates / Societies / Trusts, etc.
Bank Account Online - With the advancement of technology, the major banks in the public and private sector has faciliated their customer to open bank account online. Bank account online is registered through a PC with an internet connection. The advent of bank account online has saved both the cost of operation for banks as well as the time taken in opening an account.
Note :- A minor account can be opened but jointly with a guardian and only the guardian would is allowed to operate the account.
General procedure to open an account
The Bank will provide you with details of various types of accounts that you may open with the Bank.
You can have your choice on what type of account would best suit you, based on your needs and requirements
The Bank will, prior to opening an account, require documentation and information as prescribed by the "Know Your Customer" (KYC) guidelines issued by RBI and or such other norms or procedures adopted by the Bank prior to opening the account.
The due diligence process that the Bank would follow, will involve providing documentation verifying your identity, verifying your address, and information onyour occupation or business and source of funds. As part of the due diligence process the Bank may also require an introduction from a person acceptable to the Bank if they so deem necessary and will need your recent photographs.
The Bank is required by law to obtain Permanent Account Number (PAN) or General Index Register (GIR) Number or, where you do not possess such registration, declaration in Form No. 60 or 61 as specified under the Income Tax Rules.
In the event that the account opening process is likely to take longer than normal, the Bank will inform you of the revised timeline.
You can also call your branch or the executive for any queries that you may have and the branch / executive will revert on the query at the earliest.
The Bank will provide you with the account opening forms and other relevant material to enable you open the account. Bank personnel will advise you on the complete details of information that would be required by the Bank for the verification process.
The Bank reserves the right, at its sole discretion, to open any account and at such terms as the Bank may prescribe from time to time
