How to Open a Savings Account at Allahabad Bank
Saving money in your cabinet or vault is not a good practice: there is a better place for it. Through frugality, you can have enough money when difficult times come. Without adequate saving, we will be going to many liability so it is very important to save regularly.
If you don’t have a savings account, you can apply for one. The application is simple and involves only some requirements and low first deposit.
One bank in India you can choose to start a savings account is Allahabad Bank. It was founded on April 24, 1865 and the earliest stock bank in India.
If you don’t have any bank account, you can choose Allahabad Bank to start a new one. There are lists below showing the demands in beginning a bank account.
Nearly all banks in India demand the preceding papers because it is dictated by the law. Here are the necessary documents you must have to start a new bank account.
1. In order to confirm the identification of the applicant, customer must bring at least two photocopies and the original of any one of the preceding documents:
a. PAN Card
b. Driver License
c. ID card given forth by the true employer
d. Voter ID Card
e. Government Card
f. Passport
2. To authenticate the proof of address of the client, he or she must bring authentic and photocopy of any one of the afterward documents:
a. Electricity billing statement
b. Telephone Account of charges
c. Letter from any recognized government authority
d. Letter from a reputed employer
e. Income Tax
f. Ration Sheet
g. Salary Sheet with address of the applicant recorded on the slip
h. Bank Account Invoice
3. Certification of Date of Birth
a. For Minor – Birth certificate issued by Gram Panchayat, NAC (Notified Area Committee), Municipal Corporation
b. For Senior Citizen- Passport, Voter ID Card, Driving License, PAN Card, Service Discharge Authentication or PPO in case of Pensioner
4. Two latest photo with a size of 2.5 cm x 3.5 cm
5. In case of illiterate customers, thumb impression to be filed on the application forms and verified.
6. For launching of accounts of minors, where proof of identity or address is not available, data should be the same with the father, mother or natural guardian.
7. Initial deposit of your bank account which can change depending on the kind of savings account you will open usually the first deposit is Rs.25,000 or more in multiples of Rs.5,000 for Flexi-fix deposit scheme
Allahabad Bank is one of the nationalized banks in India which you can select to open for a bank account. It is easy to open an account once you have the full requirements which were listed above. Before going to the bank, prepare first and give up the requirements so your application will be easy and quick.
Gily Tenorio is a personal finance blogger who likes blogging on financial management, saving, investments and banking like on how to open a savings account at Allahabad Bank, you should visit India Bank blog for more helpful articles on saving, investing and banking.
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