Accumulating a lot of funds in cash at home is of no use. Many people open savings accounts to deposit cash and keep them in safe hands. Indian Bank is one of the trusted banks in India where people prefer savings accounts. But they are unaware of the process of Indian Bank Account Opening. Here in this article, you can explore the methods to open a savings account with the Indian Bank. Either you can visit the nearest branch of the Indian Bank or go to the official website of the same bank. We will discuss both ways to open an account at the Indian Bank whether online or offline.
The interest rate on the Indian Bank Savings Account is 2.90% per annum and it will be debited to your account quarterly. On the other hand, you will get an ATM card that can be used for shopping and withdrawing cash anytime.
Ways to Open Indian Bank Savings Account
There are two ways to open an account at an Indian bank. You must see the online method first to open an account because it will be convenient for you.
Indian Bank Savings Account Opening Online
- Go to the official website of the Indian Bank.
- Then in the Savings Account option click on the Apply Now Button.
- Then fill in the basic details like Name, Contact Number, Date of Birth, etc., and click on the Submit button.
- Now you will have to verify your documents like PAN and Aadhar or any other document asked by the bank.
- The Indian Bank will verify all the documents submitted by you.
- Once the verification process is completed, Indian Bank will give you the Welcome Kit having cheque book, passbook, and Debit card.
After completing the Indian Bank Account opening process, you can register your mobile number with the bank and receive the transaction details. You can use the registered mobile number to have the Indian Bank Balance Check. On the other hand, you can have the Indian Bank Mini Statement using the same registered mobile number.
Open Savings Account at Indian Bank Offline
- Visit the nearest branch of the Indian Bank.
- Make sure you carry the relevant documents and their photocopies with you.
- Go to the bank’s representative and ask for the savings account form.
- Fill out the savings account form and provide all the relevant details with supporting documents.
- Then submit the application form to the executive.
- The bank will verify the documents and collect the money in case of MAB.
- Finally, your account will be opened at Indian Bank and you will receive the confirmation via call, SMS, or email.
Documents and Eligibility Criteria for Indian Savings Account
- Indian residents are allowed to open Indian bank savings accounts.
- The minimum age of the applicant must be 18 years.
- You will have to submit the photocopy of the PAN Card and Aadhar card.
- The bank might ask for any other document if needed.
- The following person can open the Savings Account with the Indian Bank.
- Government Departments
So, now you are aware of the Indian Bank Account Opening Process. You can either visit the nearest branch and open an account with the Indian Bank or go to the official website of the Indian Bank to do the same. Online opening of the Indian Bank account will be convenient and you will not have to visit the branch. Therefore, the ball is in your court and you will have to decide which method would be best to open the savings account at Indian Bank.