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Bandhan Bank Savings Accounts

Bandhan Bank is a relatively new bank in India, as it was incorporated just a few years ago on 23rd December 2014, following the approval from the RBI (Reserve Bank of India) in April 2014. Bandhan Bank is a wholly-owned subsidiary of BFSL (Bandhan Financial Services Limited), the largest microfinance organization in India.

Bandhan Bank is driven by a desire to serve its customers with the best financial services. From 501 branches in 2014, the bank today has over 1000 branches across the country, and 481 ATMs pan India, serving nearly 1.73 crore customers. Apart from its major branches, the bank also offers 3014 DSCs (Doorstep Service Centres) providing banking services to customers across all areas, including rural districts.

The motto of the bank is “Aapka Bhala and Sabka Bhalai.” True to its philosophy, Bandhan Bank offers world-class banking services to customers across all regions – urban, rural, and semi-urban. The bank is dedicated to providing customers with a wide range of banking products and services on par with the top state and private banks in India.

Types of Savings Account from Bandhan Bank

Bandhan Bank Savings Account

Bandhan Bank offers the following savings accounts to meet the needs of different categories of users:

  • Standard
  • Advantage
  • Premium
  • Sanchay
  • Special
  • Others
    • GOS
    • TASC
    • BSBDA
    • BSBDA – Small

Let’s take a closer look at each of these savings accounts from Bandhan Bank.

1. Standard Savings Account

This is the standard savings bank account from Bandhan Bank. It offers all regular banking services at low fees. It’s a hassle-free savings account that is easy to open, transact, and manage your savings.

Monthly Average Balance Required: Rs. 5000

Benefits of the Premium Savings Account:

  • Easy to open and operate
  • Passbook and cheque facility available
  • Debit cum ATM card, transaction alerts, any branch banking
  • Netbanking, phone banking, mobile banking
  • Electronic fund transfers via IMPS, RTGS, NEFT
  • Nomination facility available
  • 24 x 7 customer support

Transactional Benefits of the Standard Savings Account

  • Cash deposit limit of up to Rs. 5 lakhs free per month
  • Unlimited cash withdrawals at home branch
  • 20 cheque leaves free per month
  • Free 5 cash withdrawals at other bank ATMs every month
  • Free 2 electronic fund transfers every month
  • Two free DDs every month

2. Advantage Savings Account

This account offers an enhanced banking service with a range of additional services. High-interest rates, high transaction limits, and several complementary benefits make this account ideal for customers who want more from their savings bank accounts.

Monthly Average Balance Required: Rs. 25,000

Highlights of the Advantage Savings Account:

  • Passbook, cheque book, debit cum ATM card issued along with the account
  • Any branch banking
  • Nomination facility available
  • Transaction alerts via SMS, email
  • Netbanking, phone banking, mobile banking
  • Electronic fund transfers
  • 24 x 7 customer care

Free Services:

  • Free cash deposit of up to Rs. 10 lakhs per month at branches
  • Free unlimited cash withdrawals at branches
  • Free 40 cheque leaves per month
  • Free debit cum ATM card
  • All cash withdrawals at Bandhan Bank ATMs free
  • 10 cash withdrawals at other bank ATMs free every month
  • Free 10 fund transfers every month
  • Free standing instructions
  • 3. Premium Savings Account

    This is a premium savings account tailored to meet the requirements of valued customers. It offers several other benefits apart from banking services like preferential banking, lifestyle benefits and other smart banking services. When you choose the premium savings account from Bandhan Bank, you can enjoy several exclusive offers on dining, shopping, entertainment, and travel, while enjoying a higher rate of interest on your savings.

    Monthly Average Balance Required: Rs. 1 lakh

    Highlights of the Premium Savings Account:

    • Premium banking services for a hassle-free experience
    • High-interest rates
    • Complimentary passbook, monthly eStatement of account, consolidated annual statement, cheque book, ATM cum debit card, any branch banking, electronic fund transfers, net banking, phone banking, mobile banking, SMS and email alerts for all transactions
    • Nomination facility available
    • 24 x 7 customer care

    Free Services:

    • Free cash deposit of up to Rs. 20 lakhs per month at branches
    • Unlimited transactions at branches
    • 100 cheque leaves per month free
    • 25 free fund transfers – IMPS, NEFT, RTGS – every month
    • All cash withdrawals at Bandhan Bank ATMs free
    • 25 cash withdrawals at other bank ATMs free
    • Bank at home facility available – 2 cash/cheque pick-up and drop free every month
    • Free address, signature and photo attestations
    • Free issuance of TDS certificates
    • Free standing instructions

    4. Sanchay Savings Account

    This is a low minimum balance account from Bandhan Bank. It helps individuals get started with their savings. It is easy to open, access, and maintain. It offers a wide range of standard facilities that make banking easy for all.

    Monthly Average Balance Required: Rs. 2000

    Highlights of the Sanchay Savings Account:

    • Passbook, cheque book, debit cum ATM card issued along with the account
    • Any branch banking
    • Transaction alerts via SMS, email
    • Netbanking, phone banking, mobile banking
    • Electronic fund transfers
    • 24 x 7 customer care
    • Nomination facility available

    Transactional Benefits of Sanchay Savings Account

    • Cash deposits of up to Rs. 2 lakhs free every month
    • Unlimited cash withdrawals at home branch
    • 20 cheque leaves free per month
    • Free 5 cash withdrawals at other bank ATMs every month
    • Free 2 electronic fund transfers every month
    • 2 free DDs every month

    5. Special Savings Bank Account

    This is a specially designed savings account to meet the banking needs of the differently-abled. It offers a range of convenient banking facilities like doorstep banking, net banking, mobile app banking, and more.

    Monthly Average Balance Required: Rs. 5000

    Highlights of the Special Savings Account:

    • Complimentary – netbanking, phone banking, mobile banking, ATM cum debit card, cheque book, passbook, account statement, bank at home (1 cheque pick-up/drop at home every month)
    • Bank at any branch across India
    • Cash deposit up to Rs. 5 lakhs free every month
    • Free cheque book with 20 leaves
    • Higher rate of interest
    • 5 electronic fund transfers free every month
    • Free cash withdrawal at all Bandhan bank ATMs and other bank ATMs
    • 24 x 7 customer helpline

    6. Other Savings Accounts from Bandhan Bank

    Apart from the regular savings accounts, Bandhan Bank also offers other special accounts designed exclusively to meet the needs of specific customers.

    They are:

    i. GOS

    This is a zero balance account that is designed to support the state and central government departments. This account is used to ensure that the government subsidies and grants reach the right beneficiaries.

    Monthly Average Balance Required: Nil

    Features:

    • Free cheque book, cheque collection, DD/PO, monthly and annual consolidated statement, internet banking, and doorstep banking.

    ii. TASC

    This is a special savings account designed exclusively for non-profit organisations like NGOs, trusts, charities, hospitals, education institutes, research centres, clubs, and other section 25 companies.

    Monthly Average Balance Required: Nil

    Features:

    • Cash deposit limit of Rs. 25 lakhs per month or 20 times the MAB of the previous month, whichever is higher.
    • Free cheque book (with 500 cheque leaves per month), local cheque collection, electronic fund transfers (100 times per month), school and membership fee collection, monthly statement, consolidated annual statement, internet banking, and doorstep banking.

    iii. BSBDA

    This is a basic, no-frills account designed to make banking services inclusive to all, irrespective of their economic status.

    Monthly Average Balance Required: Nil

    Features:

    • No upper balance limit
    • Free passbook
    • Free ATM cum debit card

    iv. BSBDA – Small

    This is a zero balance account that can be opened by anyone, even if they don’t have the necessary KYC documents. Post opening of the account, the account holder can submit the required documents within a period of 12 months.

    Monthly Average Balance Required: Nil

    Features:

    • Free passbook
    • Free ATM cum debit card

    FAQs on Bandhan Bank Savings Accounts

    1. How to open a savings bank account with Bandhan Bank?

    You can apply for a savings account with Bandhan Bank using any one of the following methods:

    • Place an account opening request via the website
    • Give Bandhan Bank a call at +91 – 33 – 6633 – 3333 or 1800-258-8181 (toll-free)
    • Visit your nearest Bandhan bank branch to fill the application form

    2. How can I manage my Bandhan Bank savings account?

    Bandhan Bank offers several channels for account holders to manage their account. Some of the popular channels include:

    • Netbanking
    • Mobile banking
    • Phone banking
    • Bandhan bank ATMs
    • Bandhan bank branches

    3. Does Bandhan Bank offer zero balance accounts?

    Yes. You can choose from any one of the following zero balance savings accounts based on your requirements:

    • GOS
    • TASC
    • BSBDA
    • BSBDA – Small

    4. What happens if I don’t use my account for a long time?

    In such cases, your account becomes dormant, and no further transactions via any channel are possible. You have to visit your nearest Bandhan Bank branch to reactivate the account.

    5. Does Bandhan Bank allow setting up standing instructions?

    Yes. You can set up standing instructions in your savings accounts from Bandhan Bank.

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