Open Bank Account in Allahabad Bank : Allahabad Bank 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 Allahabad Bank. Opening a Bank Account in Allahabad Bank 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 Allahabad Bank Account. Also, you must know about the eligibility criteria to open a new bank account in Allahabad Bank. Knowing all these things beforehand is a good thing, as you need to prepare yourself to apply for a bank account in Allahabad Bank.
How to Open a Bank Account in Allahabad Bank ?
Before we move ahead to know the procedure to open a bank account in Allahabad Bank, let us first know about the eligibility to open Allahabad Bank Account.
Eligibility to Open a Bank Account in Allahabad Bank
Before you make a visit to Allahabad Bank, it’s a good thing to check whether you meet all the criteria for opening an account with Allahabad Bank. Most of the Allahabad Bank 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 Allahabad Bank 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 Allahabad Bank (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 Allahabad Bank.
Types of Bank Accounts offered by Allahabad Bank
Once you know that you are eligible to open a bank account in Allahabad Bank, you must choose the account that best suits your need. Here is a list of Bank Accounts that are being offered by Allahabad Bank.
1) Normal Savings Bank Account : A normal savings account caters to all the banking needs of individuals. This type of savings account helps build the habit to save amongst people. The outstanding credit balance of the account keeps earning interest. Also, there is no limit on the number of deposits and the total amount that can be deposited in this type of Allahabad Bank savings account.
2) AllBank Premium SB Account : Allahabad Bank’s premium savings account offers a wide range of additional features some of which are 25% off on service charge on every transaction, no matter the transaction is of how much amount and how many number of transactions take place, 25% discount on the processing fee of each type of retail loans from the Allahabad bank branch, 2 free debit remittances from the savings account each month, Outstation cheques to a value of Rs.25,000 instantly gets credited, Free personal accident insurance cover of Rs.1 lakh and a lot more.
3) AllBank Advantage Salary Premium Account – A salary savings account is the one which meets the needs of salaried individuals. This account helps the employers to instantly credit the salary to their employees.
4) AllBank Mahila Sanchay Account : This is a Women’s savings bank account designed exclusively for women to help them empower in the society. The features of this type of account are Account can be opened and maintained at zero balance, Issue of demand drafts and banker’s cheques for educational use of the Children of the account holder at no additional charge for amount up to Rs.1,000, Cheque book and a debit card wil be provided if the account has Rs.500 as minimum balance.
5) AllBank eTrading 3-in-1 Account : This Account is combination of 3 accounts – savings/ current account demat account and trading account. This 3-in-1 account allows the Account Holders to trade from anywhere in the World via a computer having internet connection. In addition to the online trading facility, the account also offers customers free access to research reports on the ongoing market trends in equities and the commodity market.
6) AllBank Vikash SB Account : This type of Allahabad Bank saving account aims at mobilizing resources of wide range of developmental programs that are being run by non-government organizations, local, state and/ or central governments. This account has the features like Minimum balance which is to be maintained by the organization is Rs.50,000, you get a 25% discount on service charges for each transaction, irrespective of the amount and number of transactions & Outstation cheques that have a value up to Rs.25,000 are credited instantly.
7) AllBank Saral Savings Account (Basic Savings Bank Account) : This type of savings account offers basic banking services to customers. The features of this type of Allahabad Bank saving account are No deposit needed for account opening and no minimum balance requirement, 4 free cash withdrawals from Allahabad Bank branches and ATMs in a single month, Unlimited free deposits and transfer of funds within Allahabad Bank, Free cheque book with 20 cheque leaves every year, No account closure charges, No charges for non-operation of Account or activation of inoperative or dormant account and a lot more.
8) AllBank Saral Savings Bank Account (Small Account) : A small account in Allahabad Bank has features like Total Credits in a financial year shouldn’t be more than Rs.1 lakh, Total of withdrawals & transfers in a month should not be more than Rs.10,000, Account balance should not be more than Rs.50,000 at any point of time, Initial operation of the small account is valid for only 12 months. Account operation will be extended by 12 additional months if the account holder provides the KYC documentation.
9) AllBank Savi Fix Account : An Allahabad Bank Savi Fix account has features like A minimum balance of Rs.50,000 has to be maintained in this type of account. Any amount that exceeds Rs. 50,000 is automatically swept out into a multiple option deposit in multiples of Rs.10,000 in order to earn higher rate of interest. In case the balance in Account is not sufficient, a reverse sweep takes place on a Last in First out (LIFO) basis where the amount from the multiple option deposit is swept back into the savings account in multiples of Rs. 10,000 to meet the required deficit.
10) Current Account : Current Account is Bank Account provided to a business entity like Partnership firm, Limited Companies, Pvt. Ltd. Companies etc.
Read Also : Types of Joint Accounts in India
Steps to Open a Bank Account in Allahabad Bank
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 Allahabad Bank 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 Allahabad Bank. 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 Allahabad Bank Account Opening Form from any branch of Allahabad Bank. Fill up Allahabad Bank Account Opening Form completely and put your signature wherever required. You can also take help of Allahabad Bank 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 Allahabad Bank internet banking and mobile banking separately.
3) Visit the Branch : After you have the duly filled Allahabad Bank Account Opening form and the necessary KYC Documents, you need to visit the Allahabad Bank 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 Allahabad Bank 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 Allahabad Bank 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 Allahabad Bank
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 Allahabad Bank Customer Care Number in your mobile phone.
4) Contact Allahabad Bank 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 Allahabad Bank to request to block your account or a particular service on your account to prevent unauthorized use.
Read Also : How to Block Allahabad Bank ATM Card ?
Things you must know before opening a bank account in Allahabad Bank
You must know some important things before you apply for a bank account in Allahabad Bank. You can clear the queries mentioned below at any Allahabad Bank Branch or by calling Allahabad Bank Customer Care Numbers.
- Is there a monthly/quarterly fee for maintaining this Account in Allahabad Bank ? If so, what is it?
- Is there a minimum balance that I must keep within this Allahabad Bank 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 Allahabad Bank 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 Allahabad Bank ATM ?
Allahabad Bank Customer Care Numbers
At any point of time, you need help from Allahabad Bank 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 : 1800226061
Write to Allahabad Bank Customer Service Department : [email protected]
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