Bandhan Bank Savings Account

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Bandhan bank savings account

A savings account is often the first bank account for many as it is very easy to open and operate. It is a safe way to store your hard-earned cash and earn a nominal interest.

There are many reasons to why a savings account is one of the most popular types of bank account, despite some of its limitations. Following top reasons to open a savings account:

1. Different kinds of savings accounts for different needs. Banks also offer zero-balance savings accounts for those who want only basic banking facilities like withdrawals and deposits, those who cannot afford to maintain an average balance.

2. Save for the future—It instills a healthy habit of savings. Having a savings account is often a foundation stone to good financial planning.

3. Emergency fund—Having a saving account and periodically transferring / depositing money in it helps save for a rainy day—you never know when you might face an emergency.

4. Online Banking—Having a savings account comes with added advantages like Internet banking through which you can conduct day-to-day banking (like for example, money transfers and paying bills online) at ease.

5. Income through interest: While you earn less interest in a savings account as compared to an FD or RD account, you also have far greater freedom in operating the account.

6. Accessibly and liquidity—You can access your money in times of need, even if it is in the middle of the night, without the worry of storing it at home. Also, it is one of the most liquid forms of investment.

7. Online shopping—Having a savings account enables you to access a whole world of rewards on online shopping and make payments easily.

8. Requires minimal documentation.

Limitations of a Savings Account:

  • There are various fees associated with a savings account.
  • You need to maintain a specific balance each month in order to avoid penalties. There are zero balance accounts to counter that problem—although it comes with limited facilities that makes it banking with ease a tad tougher.
  • The interest is far lower when compared to that of, say, a Fixed Deposit account and offers low returns in comparison to other forms of savings.

Even with the downsides, a savings account is popular with the old and the young, as it provides easy access to money in times of need and inculcates a habit of saving. A savings account is a must to have with the easy banking modes it has on offer.

Bandhan Bank Savings Account

A Bandhan Bank savings account provides a host of banking benefits like flexible easy accounts management, along with a competitive interest rate. You can make quick utility bill payments via NetBanking, and enjoy various features in convenience banking with a Bandhan Bank Savings Account.

Features and Benefits of Bandhan Bank Savings Account

There are various benefits to having a savings account with Bandhan Bank:

  • Safety and security when you store your cash in a savings account
  • Different savings account for different needs.
  • Access your account with ease via Internet Banking / SMS Bank / Phone Banking

Types of Bandhan Bank Savings Accounts

Below are a few of the different savings accounts available. For the full list of savings accounts options, check the bank website or visit the nearest branch.

Premium Savings Account

  • Cash Deposit Limit at Branches – Rs. 20 Lakh per month free
  • Branch Cash Transaction Limit - Unlimited
  • Multi City - 'At-Par' Cheques - 100 Cheque leaves per month free
  • Cash withdrawal at Bandhan Bank ATMs - Free
  • 25 Cash withdrawal at other Bank ATMs - Free
  • Fund Transfer Facility - 25 IMPS/ RTGS/NEFT/DD per month free
  • Bank @ Home Facility - 2 Cash/ Cheque Pick-up & drop per month free
  • Issuance of duplicate Interest, Balance and TDS Certificate - Free
  • Free Signature, Address and Photo attestatio

Advantage Savings Account

  • Free Cash Deposit Limit – Rs. 10 Lakh per month
  • Free Branch Cash Withdrawal Transaction Limit - Unlimited
  • Free Multi City - At Par Cheques - 40 Cheque leaves per month free
  • Free Debit cum ATM Card - Issuance free
  • Free Cash withdrawal at Bandhan Bank ATMs
  • Free Cash withdrawal at other Bank ATMs - 10 Transactions per Month free
  • Free Fund Transfer Facility - 10 IMPS/ RTGS/NEFT/DD per month
  • Free Standing Instruction mandate involving Bandhan Bank Accounts
  • Bandhan Bank Savings Account Minimum Balance

Standard Savings Account

  • Cash Deposit Limit – Rs. 5 Lakh per month free
  • Branch Cash Withdrawal Transaction Limit - Unlimited
  • Multi City – At Par Cheques – 20 Cheque leaves per month free
  • Free Cash withdrawal at other Bank ATMs – 5 Transactions per Month free
  • Free Fund Transfer Facility – 2 IMPS/ RTGS/NEFT/DD per month

Sanchay Savings Account

  • Cash Deposit Limit – Rs. 2 Lakh per month free
  • Branch Cash Withdrawal Transaction Limit - Unlimited
  • Multi City - At Par Cheques - 20 Cheque leaves per month free
  • Free Cash withdrawal at other Bank ATMs - 5 Transactions per Month free
  • Free Fund Transfer Facility - 2 IMPS/ RTGS/NEFT/DD per month

Special Savings Account

  • Account designed to meet the special banking and transactional needs of the differently abled
  • Transact at any Bandhan Bank Branch, across India.
  • Cash Deposit Limit at Branch – Rs. 5 Lakh per month free
  • Multi City – At Par Cheques – 1 Cheque Book of 20 leaves per quarter free
  • Earn higher Rate of Interest in Saving Account balances *
  • Electronic Fund Transfer Facility – 5 IMPS/ RTGS/NEFT per month free
  • Free Debit cum ATM Card – Life time free
  • Free Cash withdrawal at Bandhan Bank ATMs
  • Free Cash withdrawal at other Bank ATMs

Bandhan Bank Savings Account Minimum Balance

The minimum balance required in a Bandhan Bank savings account differs with each kind of account. It is advisable to contact the bank directly for details. Following is an overview:

Type of Savings Account Average Monthly Balance Required
Premium Savings Account Rs. 100,000
Advantage Savings Account Rs. 25,000
Standard Savings Account Rs. 5000
Sanchay Savings Account Rs. 2000
Special Savings Account AQB: Rs. 5000

Bandhan Bank Savings Account Interest Rate

Bandhan Bank savings account offers interest rates of up to 6%, depending on the daily balance, and the type of account. Do keep in mind that the rates are subject to change at the sole discretion of the bank. It is advisable to check with the Bank for accurate rates.

Bandhan Bank Savings Account Charges

Different Bandhan Bank savings accounts have a different schedule of charges. It is best to contact the Bank directly for the most up to date charges.

How to open a Bandhan Bank Savings Account

Bandhan Bank savings account opening is simple. You can open an account in any of the following ways:

  • Fill the form and submit it online, and an executive will get in touch with you. You can discuss your needs, and accordingly open a savings account.
  • You can visit your nearest branch and have a customer care representative help you with the forms.
  • You can download the savings account opening form online, fill it and visit your nearest Bandhan Bank Branch.
  • Call the toll-free customer care number at: 1800 258 8181 (or) +91 33 6633 3333 (non-toll free)

Bandhan Bank Savings Account FAQS

What is the best interest rate on a Bandhan Bank saving account?

The interest rates are currently at 6 %, depending on the daily balance maintained. For the latest interest rates, it is best to contact the nearest branch.

How to update my new mobile number?

You can update your mobile number / email address by visiting your nearest Bandhan bank branch and submitting the required form. You can also download the from the website, fill it and submit it to your nearest branch.

Is it possible to open a Bandhan Bank savings account online?

You can place a request for account opening on their website. An executive will get in touch with you.

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