Bandhan Bank Savings Account
Bandhan Bank is a commercial private bank established in the year 2014. It was founded in Kolkatta by Bandhan Financial Holdings, one of the leading microfinance providers in the country. Bandhan Financial Holdings was set up in the year 2001 and has steadily climbed to the top in terms of providing quality services to those seeking microfinance
Bandhan Bank Savings Account Interest Rate
Bandhan Bank offers its customers an interest rate of 6% per annum for accounts with a balance over Rs. 1 lakhs and above, and 4.25% per annum for accounts with a balance of less than Rs. 1 lakh.
Minimum Balance Requirements for Bandhan Bank Savings Accounts
Bandhan Bank’s minimum balance requirements are given below:
| 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 |
Types of Bandhan Bank Savings Accounts
Premium Savings Account: The Bandhan Bank Premium Savings Account provides accountholders with a range of privileges and premium services such as phone banking, fund transfers and cheque books free of charge. Holders will also enjoy shopping and dining privileges as well as invitations to various events like exhibitions, concerts etc.
Advantage Savings Account: With the Bandhan Bank Advantage Savings Account, enjoy facilities such as a higher rate of interest and increased transaction limit along with services like any branch banking and internet banking. Avail of benefits such as free cash withdrawal at ATM’s and instant fund transfer services.
Sanchay Savings Account: The Bandhan Bank Sanchay Savings Account offers account holders a host of services to make banking a simple and hassle-free experience. As an account holder, track your account balance and spends anywhere, anytime through net banking and mobile banking. Enjoy all the services of a premium account without the need to maintain a high balance, such as SMS alerts and any branch banking, among others.
Standard Savings Account: Begin saving with the Bandhan Bank Standard Savings Account and enjoy perks and benefits such as high rates of interest, low minimum balance requirement and a host of services. Make banking transactions convenient with internet banking and keep track of your account balance with transaction alerts. Enjoy privileges such as online fund transfer and phone banking.
Special Savings Account: The Bandhan Special Savings Account is a unique offering for the ddifferently abled, providing them with banking services at a nominal cost. Account holders can enjoy a number of services such as mobile banking, home delivery of cash and cheque as well as internet banking free of cost. Holders will also receive a Debit card with annual fees waived off.
GOS Savings Account: Specially designed for Central and State government departments, this offering from the bank provides these bodies with subsidies and grants. There is no minimum balance requirement and holders will enjoy services such as doorstep banking, free Demand Drafts as well as complimentary internet banking facilities.
TASC Savings Accounts: Designed for non-profit organisations, the Trust, Association, Society and Club (TASC) Savings Account provides these bodies with special services such as collection of local cheques, doorstep banking and 60 cheque leaves per quarter free of charge. Please refer to the bank’s website for a complete list of rules regarding opening an account.
Basic Savings Bank Deposit Account (BSBDA): This offering is for those individuals who wish to maintain a savings account without the burden of maintaining a balance. This is a zero-balance no-frills account that provides the account holder with a free Debit card.
Basic Savings Bank Deposit Account- Small: This account is for those individuals who wish to open a savings account but do not have the necessary documentation to do so. Such individuals can open an account subject to certain restrictions regarding withdrawals and deposits (kindly refer to bank’s website or contact a branch for details).
Opening a Bandhan Bank Savings Account
Those individuals seeking to open a savings account with Bandhan Bank can do so through two mediums- online account opening as well as offline account opening.
Eligibility:
Indian citizens can open a Savings Account with the bank. The eligibility criteria for Bandhan Bank Savings Accounts are as follows:
- Hindu Undivided Families
- Individuals (singly or jointly)
- Trusts, associations, government bodies, religious institutions, clubs etc
Account Opening Documents
The following documents have to be submitted when opening a Savings Account:
- Proof of identity
- Proof of residence
- Photographs
Proof of identity documents
Any one of the below documents can be submitted as proof of identity to open a Savings Account:
- Voter’s ID card
- Permanent Account Number (PAN) card
- Passport
- Government issued photo identity
- Driving licence
- Aadhaar card
Proof of residence documents
Any one of the following documents can be submitted as proof of residence to open a Savings Account:
- Passport
- Aadhaar card
- Utility bills (electricity bill, telephone bill)
- Bank account statement
