Advises on Opening a Savings Account at Andhra Bank
Saving money is highly valuable to accomplish financial security. Without savings, it is very difficult to imagine what will happen in the future.
Savings account is a bank product that permits a person to save money in safe and beneficial means. Different to saving in piggy bank that earns no premium, savings account gives interest on a consistent basis relying on its annual interest percentage.
If you like to start a bank account in India, you can choose Andhra bank if it is around your location. Andhra Bank is one of the nationalized banks in India and was established in November 20, 1923. The bank’s main office is presently located in Hyderabad, India.
Some of its products and services includes savings accounts, current accounts, fixed deposits, Arogyadan scheme, Bancassurance Life and Bancassurance (Non Life).
Usually, the most common requirements in opening a bank account in India can be seen underneath. The requirements are needed for you to be able to open a deposit account. The bank will not allow any individual if he or she does not have the documents written underneath.
1. For validating the identification of the client, you should bring at least two photocopies and the authentic of any one of the following documents:
a. PAN Card
b. Passport
c. Government ID Card
d. Voter ID Card
e. Driving License
f. ID card disseminated by the applicant’s employer
2. To let the bank learn the address of the client, you must bring original and photocopy of any one of the preceding documents:
a. Telephone Account of charges
b. Electricity bill
c. Bank Account Invoice
d. Letter from any recognized public authority
e. Ration Card
f. Income Tax
g. Salary Slip with address indicated
h. Letter from the customer’s employer identifying his or her address
3. To validate the date of birth of the client, a proof should be produced like one of the following:
a. For Minor – Birth certificate issued by Gram Panchayat or NAC (Notified Area Committee) or Municipal Corporation
b. For Senior Citizen- Passport, Voter ID Card, Driving License, PAN Card, Service Discharge Authentication or PPO in case of Pensioner
4. Two most recent pictures having size of 2.5 cm x 3.5 cm
5. In case of illiterate clients, thumb impression to be placed and verified in the application forms
6. For opening of accounts of underage, where proof of identity or address is not accessible, data should be the similar with the customer’s father, mother or natural guardian
7. First deposit for your new savings account that can be as high as Rs. 25,000 – 30, 0000
Owning a savings account in Andhra Bank brings benefits to the account holder. Applying a bank account is not complicated, it is simple and beneficial. Remember that you must pass up the complete requirements as you go to the bank to have a quick and easy processing of your application.
Gily Tenorio is a personal finance blogger who likes blogging on saving, investments and banking such as on how to open a bank account at BDO Philippines. For helpful details about banking, you shouldlcanlmust visit Financial Management blog for quality helpful articles on banking, saving and investing.
Processing your request, Please wait....
