Hello readers, welcome to our blog. In this article, you will learn how to open a Bandhan Bank Account online. Bandhan Bank offers its customers a range of services and products comprising the gamut of the financial sector, from loans to fixed deposits and various accounts. The bank has expanded its reach across the country, but its focus is in the eastern and northeastern regions. The bank is attempting to provide the people in these regions with the best in financial service quality and products. So continue with us to learn about opening a Bandhan Bank Account online and get more related information about Bandhan Bank.
About Bandhan Bank
Bandhan Bank Limited was incorporated on December 23rd, 2014 as a wholly-owned subsidiary of Bandhan Financial Holdings Limited, owned by Bandhan Financial Services Limited (BFSL), the largest microfinance organization in India. Its public shareholders include International Finance Corporation (IFC), SIDBI, Caladium Investment Pte. Ltd. (a company managed by GIC Special Investments Private Limited), Bandhan Employees Welfare Trust & a few individuals. Bandhan Bank is driven by a constant desire to serve better. The Kolkata-headquartered bank has two divisions-micro banking and general banking, offering a suite of retail financial solutions, including a variety of savings and loan products.
Bandhan Bank seeks to offer world-class banking products and services to urban, semi-urban, and rural customers alike. It is a bank for all, but the focus remains unchanged to meet the financial needs of people who are overlooked by the formal banking system and create better education, health care, and self-employment opportunities. In sync with the philosophy of ‘Aapka Bhala, Sabki Bhalai’ and keeping financial inclusion at the heart of it, Bandhan is committed to providing a host of products and services, competitively on par with India’s top private and state-owned banks. Simply put, when you choose to bank with Bandhan, you are choosing to be instrumental in the nation’s larger growth story.
Mission: To provide customers with accessible, simple, cost-effective, and innovative financial solutions in a courteous and responsible manner. To create value for all stakeholders through a committed team, robust policies, and superior systems and technology.
Vision: To be a world-class bank for convenient and affordable financial solutions for all, in an inclusive and sustainable manner.
Registered Name: Bandhan Bank Limited
Founded in: On August 23, 2015, Bandhan Bank was born with a bouquet of products for customers in all segments.
Steps to Open a Bandhan Bank Account Online
- To open an account online, applicants can visit the official website of the bank and choose the ‘Savings Account’ option from the menu ‘Products’.
- Now, choose the type of account you wish to open and click on the ‘Apply’ button.
- After this, fill out all your details.
- A representative of the bank will contact you regarding the account opening. Meanwhile, you can fill out the application form, which can be downloaded from the website.
- Now submit it to the nearest branch where all your information and documents will be verified.
- Once the process is done, the bank will issue a starter kit and you can start using your savings account.
Steps to Open a Bandhan Bank Account Offline
People who do not have internet access can open the account offline too. They just need to visit the nearest branch. Here are the steps:
- Go to the nearest branch to collect the appropriate form.
- Submit a duly filled form along with the self-attested documents mentioned above. The bank will send you a starter kit after the verification.
- You can later start using your savings account for fund transfers and other banking activities.
Required Documents for Opening a Bandhan Bank Account
|Application Form||The duly filled application form will be required|
|Proof of ID||PAN card Aadhaar Card Voter ID Driving License (Permanent) Passport NREGA Job Card|
|Proof of Address||Driving License Aadhaar Card Passport Voter ID NREGA Job Card|
|Photographs||Latest Passport size photographs of the applicant.|
To cater to the different needs of its clientele, Bandhan Bank offers the following savings accounts to promote the habit of regular savings:
|Type of Bandhan Bank Savings Account||Primary Features|
|Standard Savings Account||High-interest rate Any branch banking facility|
|Special Savings Account||Bank @ Home service Multicity checkbook|
|Premium Savings Account||Premium banking privileges and features Free address, signature, and photo attestation|
|Advantage Savings Account||Unlimited cash withdrawals at Bandhan Bank branches 24/7 customer care facility|
|Sanchay Savings Account||Safe and secure banking Free 5 withdrawals at other banks’ ATMs|
|GOS Savings Account||No minimum balance requirement Free doorstep banking facility|
|TASC Savings Account||The minimum balance requirement is NIL Consolidated’s annual account statement|
|BSBDA Savings Account||No hassle of minimum balance High-interest rate|
|BSBDA Small Savings Account||KYC liberalized the Zero balance account|
Interest Rates of Bandhan Bank
- The interest rate for the savings bank account has been fixed at 4.5% for a balance of up to Rs. 1 lakh and 5% for a balance above Rs. 1 lakh.
- The interest rate for term deposits has been fixed at 8.5% for 1-3 years. It will also give additional benefits of 0.5% extra interest to senior citizens.
Ten things you need to know about Bandhan Bank
Savings account: Bandhan Bank offers 4.25% per annum on savings accounts for deposits below 1 lakh and 5% for deposits above 1 lakh. As of now, major state-run and private sector banks offer 4% per annum on savings account deposits.
Fixed deposits: The bank is offering 8.50% per annum on fixed deposits (FDs) that mature in one to less than three years. Senior citizens will get an additional interest of 50 basis points (bps). One bps is one-hundredth of a percentage point.
Base rate: Bandhan Bank has set its base rate at 12% per annum. The base rate is the minimum rate at which banks can lend to their customers. Currently, the base rate of major commercial banks has slid below 10%.
Loans: Right now, the bank is offering home loans, loans against property, two-wheeler loans, and overdrafts against term deposits.
Branches: The bank so far has 501 operational branches, most of them in rural or unbanked areas. Some of the branches will remain open all seven days a week.
Automated teller machines: The bank has about 50 operational ATMs. Customers with a premium or special savings account will get unlimited free transaction access to Bandhan Bank’s ATM and ATMs of other banks.
Cards: The bank is currently offering five variants of debit cards on the Rupay platform and plans to offer Visa-enabled debit cards soon. The next would be prepaid cards, followed by credit cards.
Mobile app: The bank has done a soft launch of its mobile app for its select customers. We will have to wait and watch for the features of the app.
Locker: You can even avail of the locker facility at a minimum cost of 1,000, compared with the minimum charge of 3,000 in some large commercial banks.
Now that we have seen what the services Bandhan Bank provides and how to open a Banshan Bank Savings Account online, it is easy to imagine why it has such a large client and customer base. Please like and share our articles with friends and on social media. Please subscribe to our article by clicking on the One-Signal Push Notification bell icon. You all viewers will get a more important information article in the near future by lifeinawind.com.
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