Requirements on Applying a Savings Account at HDFC Bank
A savings account is a bank product that enables every customer to earn interest from the deposits they place in their savings account. It is an useful tool for both bank and client when there is a saved money in a bank account.
There are also other benefits of saving money in your savings account. Some banks offer lower interest rates for loans, impart freebies at the time of holidays and waived credit card annual fee if you are one of their customers.
In India, there are plenty of banks you can apply for to get a savings account. One bank you can select is HDFC Bank. It is a private top bank in India. It was established by the Housing Development Finance Corporation Limited (HDFC), India’s biggest housing finance firm.
HDFC was in a group of the first banks to receive approval from the Reserve Bank of India (RBI) to establish a bank in the private division. The bank was founded in August 1994 by Bibu Verghese.
HDFC Bank has its primary industry in banking and financial sectors. The bank’s products includes mortgages, commercial banking, venture banking, credit cards, private banking and asset management.
Its present headquarters can be found in Mumbai, India and presently having the position of chairman is C.M. Vasudev and Aditya Puri as managing director. HDFC bank is also a member of Bombay stock Exchange (BSE) and New York Stock Exchange (NYSE).
If you are looking for ways on how to start a savings account at HDFC, you may follow or consider the preceding tips in order to have an easy application.
1. Prior to going to the bank, prepare and bring the following requirements.
Any one of the current/ recent photo identification documents such as:
a. Driving License with photograph
b. Passport (a must for NRI)
c. Voter’s Identity Card
d. Letter from known public establishment or public servant verifying the identity (photo) of customer
e. Confirmation letter from employer / other Bank verifying therein photograph of the customer along with other things
f. Any other detail with photograph evidencing identity of the applicant/s satisfactory to the Bank
g. Identity Card/ Confirmation from employer
h. PAN Card, Government ID Card
For wedded woman, proof of identity with her maiden name, if supported with a verified real copy of marriage certificate is satisfactory as authentic identity proof.
Any one of the following latest / recent credentials showing address proof like:
a. Bank account record (with address)
b. Telephone Bill, Electricity Bill, Ration Card
c. Passport
d. Driving License with address, Voters’ Identity Card
e. Any documentary proof in support of residential address satisfactory to the Bank
f. Income or Wealth Tax assessment order (with address)
g. In case of married women address proof of the husband is satisfactory
h. Letter from employer / Any document of communication issued by any authority of Central / State Government or local body showing residential address.
2. Make sure to fill-up required data on your application forms completely.
3. Inquire or ask bank employee for any inquiries when you don’t know what to do.
4. Claim your ATM or passbook after 3-5 banking days because it will undergo processing and approval.
5. Activate your ATM and change your PIN code.
A savings account is a beneficial instrument to assist you save money in safe and helpful way. Through savings account, you can acquire interest from the main money you invested and your money is stored in safeguarded location.
HDFC bank is a good private bank in India which you may choose to open for a savings or other bank account. You should ready and pass up all the requirements in opening a bank account prior to moving to the bank in order to have a quick processing of your application.
Gil Tenorio is a personal finance blogger who loves writing on financial management, saving, investments and banking like on how to open a savings account at HDFC Bank, you may visit India Bank blog for quality helpful posts on saving, investing and banking.
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