Bandhan bank Savings Account – Interest Rate, Types And Benefits

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Bandhan bank is an Indian banking and financial services company which is head quartered in Kolkata, West Bengal (WB). It is also a commercial private bank which was established in the year 2014. The financial holdings were set up in 200, which have gradually developed and came on top in terms of providing quality services to those seeking microfinance.

Bandhan bank also provides a wide range of products and services, from loans to fixed deposits and various accounts. And the bank has 501 branches across the nation and its focus lies in eastern and north eastern region. And the bank constantly strives to provide its customers with best financial service quality and products.

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Bandhan Bank Savings Account Interest Rate

Bandhan bank offers 6% interest rate per annum to its customers who have balance of over Rs. 1lakhs and above and 4.25% yearly on for accounts with a balance of less than Rs. 1 lakh.

Now, let us look at the minimum balance requirements for Bandhan Bank Savings Accounts:

Savings Account Type Average Monthly Balance Requirements
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

A savings account is the most basic type of account a bank offers where it allows a customer to deposit money, keep the funds safe, and withdraw as per the needs. Read below to know types of Bandhan Bank Savings Accounts:

Premium Savings Account

In premium savings account, the Bandhan bank provides customers with a range of privileges and premium services such as phone banking fund transfers and cheque books free of charge. And under this scheme, holders will enjoy shopping and dining privileges, as well as invitations to various events like exhibitions, concerts etc.

Advantage Savings Account

In advantage savings account, customers can avail facilities such as higher rate of interest, and increased transaction limit along services like any branch banking and internet banking. The customers can avail benefits such as free cash withdrawal at ATMs and instant fund transfer services.

Sanchay Savings Account

In Sanchay Savings Account, customers get a wide range of services to make banking a hassle – free experience. You can also track your account balance and transactions anywhere, anytime through net banking and mobile banking. In this account customers are not required to maintain high balance, such as SMS alerts and any branch banking, among others.

Special Savings Account

This account has been designed keeping the differently abled in mind, as in this account banking services is offered at nominal rates. In special savings account, 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. Account holder will also receive a Debit card with annual fees waived off.

Standard Savings Account

In standard savings account, customers can start with their savings and enjoy perks and benefits such as high rates of interest, low minimum balance requirements and a host of other services.

GOS Savings Account

This account is specially designed for Central and State government departments, this offering from the bank provide 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

This account is 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. You can visit 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 accountholder 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).

How to open a Bandhan Bank Savings Account

If you wish to open a savings account with Bandhan Bank, you can do so both online or offline way.

In order to open a Savings Account online follow the below mentioned steps:

  1. Visit the official website of Bandhan bank
  2. Select the savings account tab from the “Products” section
  3. Choose the type of section you wish to open and click on apply
  4. Enter the required details on the page you are directed to
  5. Now a bank official will contact you for opening an account.

You can also choose to download the application form and fill in the relevant information. And the filled forms can be submitted at the nearest Bandhan Bank branch, where the information will be verified. Once the bank has completed their processes, the account holder will be issued with the starter kit.

In case if you are not well – versed with internet and don’t have a secured net connection, you can go the offline way as well. Follow the below mentioned steps for the same:

  1. Visit nearest Bandhan bank branch
  2. Collect the account opening form and fill the required details properly and submit it
  3. Bank will verify the details and issue the applicants with the starter kit

Eligibility Criteria For Opening Bandhan Bank Savings Account

Read below to know the eligibility criteria of Bandhan Bank:

  • Indian citizens can open a Savings Account with the bank
  • Hindu undivided families (HUF) are eligible to open an account
  • Trusts, associations, government bodies, religious institutions, clubs etc are eligible for the same

Documents Required For Opening A Bandhan Bank Account

Below mentioned documents are required at the time of opening a Bandhan Bank Account:

Proof of identity

  • Voter’s ID Card
  • PAN (Permanent Account Number)
  • Passport
  • Government issued photo identity card
  • Driving license
  • Aadhaar card

Proof of residence

  • Passport
  • Aadhaar card
  • Utility bills (electricity bill, telephone bill)
  • Bank account statement

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