Bandhan Bank Savings Account

Established in 2015, Bandhan Bank is based out of Kolkata. It is a subsidiary of Bandhan Financial Services Limited, which is a microfinance institution founded in 2001. Bandhan Bank has over 500 branches across the country and is trying to expand further. It mostly caters to the eastern regions of India and the North-eastern states.

Bandhan Bank Savings Account Interest Rate

Bandhan Bank offers the following interest rates for its Savings Account:

• 6% p.a. for balance up to Rs 1 lakh
• 4.25% p.a. for balance less than Rs 1 lakh

Types of Bandhan Bank Savings Accounts

Premium Savings Account: This account provides the account holders with a range of benefits and premium services for free such as cheque facilities, phone banking, fund transfers, etc. Account holders can enjoy dining and shopping privileges.  They can also receive invitations to events like exhibitions, concerts, etc.

Advantage Savings Account: With this account, customers can experience facilities like higher interest rates, raised transaction limit, convenient branch banking as well as free internet banking. One can also avail of additional benefits such as instant fund transfer services and free cash withdrawal at ATMs.

Sanchay Savings Account: Account holders of the Bandhan Bank Sanchay Savings Account receive a host of services that make banking a simple, easy and hassle-free experience. One can track their account balance and expenses anywhere and anytime through phone banking and net banking services. This account gives all the services of a premium account without having to maintain a high account balance.

Standard Savings Account: If individuals begin to save with this account, they can enjoy a lot of perks and facilities such as high-interest rates, low minimum balance requirement along with a number of other exciting services. Banking transactions become extremely convenient with internet banking. One can keep track of their account balance through transaction alerts and also enjoy privileges like online fund transfers and phone banking.

Special Savings Account: This is a unique offering of Bandhan Bank for the differently-abled, as it provides banking services to them at a nominal cost. The account holders can enjoy innumerable services such as home delivery of cash, cheque facilities, mobile banking and internet banking at no extra costs. The account holders also receive a debit card whose annual fees are waived off.

GOS Savings Account: This account is specially designed for departments of the Central and State governments. It provides these government bodies with subsidies and grants. Such an account has no minimum balance requirement. The account holders can enjoy services like doorstep banking as well as complimentary internet banking facilities.

TASC Savings Accounts: These accounts are designed for non-profit organizations, trusts, associations, societies and clubs. It offers special services such as doorstep banking, collection of local cheques and 60 free cheque leaves per quarter to the registered institutions.

Basic Savings Bank Deposit Account: The BSBDA is for those who wish to maintain a savings account without bearing the burden of maintaining a minimum account balance. A zero-balance & no-frills account, this account provides the account holder with a free debit card. BSBDA-Small account is meant for those who wish for a savings account but lack the necessary documentation for opening a bank account. Such accounts are subject to certain restrictions, mostly regarding withdrawals and deposits.

Minimum Balance Requirements for Bandhan Bank Savings Accounts

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	-
TASC Savings Account	-
BSBDA Savings Account	-
BSBDA-Small Savings Account	-

Eligibility

These are the eligibility criteria for a Bandhan Bank Savings Accounts:

• Resident Indian
• Hindu Undivided Families
• Trusts, associations, government bodies, religious institutions, clubs, etc.

Documents Required to Open a Savings Account

• Identity Proof: Passport, driver’s license with validity, Permanent Account Number (PAN) card, Voter ID card, Aadhaar Card, Government-issued photo identity card, NREGA Card, etc.
• Address Proof: Passport, driver’s license, Passbook of another bank, Electricity or phone bills, Ration card, etc.
• Passport sized photographs