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Open Bank Account in Central Bank of India : Central Bank of India is one of the largest, trustworthy and a growing bank in India. If you plan to open a new bank account, one option must be Central Bank of India. Opening a Bank Account in Central Bank of India is not just visiting the Branch and getting your Bank Account opened immediately. There are a few formalities which you must complete to get a Central Bank of India Account. Also, you must know about the eligibility criteria to open a new bank account in Central Bank of India. Knowing all these things beforehand is a good thing, as you need to prepare yourself to apply for a bank account in Central Bank of India.
How to Open a Bank Account in Central Bank of India ?
Before we move ahead to know the procedure to open a bank account in Central Bank of India, let us first know about the eligibility to open Central Bank of India Account.
Eligibility to Open a Bank Account in Central Bank of India
Before you make a visit to Central Bank of India, it’s a good thing to check whether you meet all the criteria for opening an account with Central Bank of India. Most of the Central Bank of India Branches will require the following :
1) Applicant must be an Indian Citizen.
2) Applicant must be over 18 years of age (Except Minor Account).
3) Applicant must have the necessary KYC Documents to open Central Bank of India Account. Usually Proof of Address, Proof of Identity and PAN Card is required.
4) Applicant should have a Guarantor who has a Bank Account in the same branch of Central Bank of India (Sometimes not needed).
5) Applicant must have minimum deposit amount for the Account(Not applicable for some accounts). For Example :- Rs.1000 is required to open a normal Savings Account in Central Bank of India.
Types of Bank Accounts offered by Central Bank of India
Once you know that you are eligible to open a bank account in Central Bank of India, you must choose the account that best suits your need. Here is a list of Bank Accounts that are being offered by Central Bank of India.
1) Home Saving Safe Accounts : This type of savings account helps the account holders to deposit their savings (no matter how small the amount is) and let them use the same savings for their day to day requirements. This account also comes with nomination facility, a free Debit cum ATM card, internet banking & much more.
2) Cent Samvridhi Savings Account : Any Indian resident over 18 years of age is eligible to open this type of savings account. This type or account is available only at CBS enabled branches. The account holders can make use of the facilities like auto sweep-in facility, free ATM cum debit card, internet banking, and 50% off on credit card fees and Demat AMC charges as well. (this waiver is valid only for the first year).
3) CENT PARAM : This type of account can be opened for crediting account holder’s salary, pension (for retired individuals), or sundry payments. The salary/pension can be credited on the last working day of the month, or as on dates communicated by pension/salary disbursement authorities. This crediting of salary or pension can be carried out in various CBI branches. During the course of the month, for account holders the other sundry payments need to be remitted. This procedure works according to the details provided by salary disbursement authorities.
4) Cent Bachat Khata : Cent Bachat Khata is a No-Frills Savings Deposit Account, the main purpose of this account is to give access of basic banking facilities and services to every common man. This type of account can be opened with just Rs. 50 which can be maintained as minimum balance. This type of account also provides nomination facility, and can be opened by any individual, at any branch of Central Bank of India who is above 12 years old (individually or jointly with a guardian/another person).
5) Cent Premium Savings Account : This type of savings account has been designed specifically to suit the enhanced needs of High Net Worth (HNI) individual customers. The account holders of this type of account get a lot of benefits like getting debit cum ATM card free of cost, free cheque books each year, phone banking and internet banking facilities, credit card renewal (free of cost), and waiver on issuance of duplicate ATM cards are few other benefits. Cent Premium Savings Account also provides a very lucrative benefit of getting a complete waiver on processing charges for housing and vehicle loan, under the Retail lending scheme of Central Bank of India. The account holders also get Platinum Debit Cards through the bank.
6) Current Account : Current Account is Bank Account provided to a business entity like Partnership firm, Limited Companies, Pvt. Ltd. Companies etc.
Read Also : Joint Accounts in India
Steps to Open a Bank Account in Central Bank of India
Once you have checked your eligibility and made up your mind with one of the bank accounts, you can proceed with the steps to open Central Bank of India Account.
1) Gather the required KYC Documents : The first and the foremost thing to do is to gather all the necessary KYC documents to open a Bank Account in Central Bank of India. You will need to provide the photostat copies of your Address Proof, Identity Proof, PAN Card, 2 Passport Size Photographs. Also, you would be required to produce the originals during verification process.
2) Collect & Fill Account Opening Form : Once you have gathered all the documents, you need to collect Central Bank of India Account Opening Form from any branch of Central Bank of India. Fill up Central Bank of India Account Opening Form completely and put your signature wherever required. You can also take help of Central Bank of India Officials if you have problem in filling up the form. You can also apply for Internet Banking and Mobile Banking through this form. However, you need to activate Central Bank of India internet banking and mobile banking separately.
3) Visit the Branch : After you have the duly filled Central Bank of India Account Opening form and the necessary KYC Documents, you need to visit the Central Bank of India Branch in which you want to open your Bank Account.
4) Verification of Form & Documents : Talk to the Accounts Person or the Branch Manager about the Verification of form and KYC documents for new bank account. You will then be sent the concerned person for verification of form and the documents. Once the verification process is complete, you can proceed to the next step.
5) Submit Minimum Deposit Amount : Submit the minimum deposit amount by filling up the cash voucher by entering the amount as per the bank account you opted for. Example : – Rs.1000 in case of a Regular Savings Bank Account. You need to write New Account in place of your name in the cash deposit voucher.
6) Collect Passbook and ATM Card : Finally, you will be getting your Central Bank of India Passbook and ATM-cum-Debit Card with your ATM Pin. Your ATM will take 1-2 days to get activated and your first transaction should be done by using Central Bank of India ATM only. If you want a custom ATM Card with your name on it, you need to apply for it separately.
Note : If you have applied of a Cheque Book and/or Internet Banking, then you will be getting your Cheque Book and Internet Banking credentials by post at your registered address.
Good Practices after you get a Bank Account in Central Bank of India
1) If you can memorize your Bank Details, PINs and Passwords , it’s a good idea to commit the following information to your memory so that you don’t need to rely on the documents in the future.
2) To make it more safe, Make a note of your Account Number, ATM Card no., PIN etc at a safe and secure location.
3) Save Central Bank of India Customer Care Number in your mobile phone.
4) Contact Central Bank of India customer care in case of any mishap with your Bank Account or if you have lost ATM card. If you think your account information has fallen into wrong hands, you must call or visit Central Bank of India to request to block your account or a particular service on your account to prevent unauthorized use.
Read Also : How to Block Central Bank of India ATM Card ?
Things you must know before opening a bank account in Central Bank of India
You must know some important things before you apply for a bank account in Central Bank of India. You can clear the queries mentioned below at any Central Bank of India Branch or by calling Central Bank of India Customer Care Numbers.
- Is there a monthly/quarterly fee for maintaining this Account in Central Bank of India ? If so, what is it?
- Is there a minimum balance that I must keep within this Central Bank of India account? If so, what is it? What sorts of fees have to paid if I go under that limit?
- What is the interest rate of my Central Bank of India Account? How often is the interest generated ?
- Is there any limit to the amount of transactions per month (deposits/withdrawals, ATM uses)?
- Where all can I withdraw cash without paying any extra fees ?
- What is the fee for using other than Central Bank of India ATM ?
Central Bank of India Customer Care Numbers
At any point of time, you need help from Central Bank of India Customer Care department, you can either reach them on the Toll Free numbers given below or can opt to write at the e-mail address mentioned below.
Toll Free Numbers : 1800 200 1911
Write to Central Bank of India Customer Service Department : [email protected] (For Complaints)
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