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Open Bank Account in SBI : State Bank of India is the largest, most trustworthy and the fastest growing bank in India. If you plan to open a new bank account, your first Option must be SBI. Opening a Bank Account in SBI 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 SBI Bank Account. Also, you must know about the eligibility criteria to open a new bank account in SBI. Knowing all these things beforehand is a good thing, as you need to prepare yourself to apply for a bank account in SBI.
How to Open a Bank Account in SBI ?
Before we move ahead to know the procedure to open a bank account in SBI, let us first know about the eligibility to open SBI Bank Account.
Eligibility to Open a Bank Account in SBI
Before you make a visit to SBI, it’s a good thing to check whether you meet all the criteria for opening an account with SBI. Most of the SBI 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 SBI 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 SBI (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 SBI.
Types of Bank Accounts offered by SBI
Once you know that you are eligible to open a bank account in SBI, you must choose the account that best suits your need. Here is a list of Bank Accounts that are being offered by State Bank of India.
1) Regular Savings Bank Account : This account can be opened by any individual who is above 18 years old, provided he/she has valid KYC documents. This is the commonly used Bank Account in SBI.
2) Premium Savings Account : Premium Savings Account provides an enhanced version of Savings Bank account with a lot of concessions and add-ons.
3) Yuva Savings Account : Yuva Savings Account is a special Savings Bank account for young adults of India to give them independent and restriction free Banking experience.
4) Small Account : This account can be opened by any Indian individual above 18 years old without Valid KYC documents. However, there are a lot many restrictions in operation of this account due to the relaxed KYC norms. Account can later be converted to Regular Savings Account upon submission of valid KYC documents. Primarily this account is meant for poorer sections of society in order to encourage them to start saving without any burden of charges or fees.
5) Savings Account for Minors : Pehla Kadam and Pehli Udaan are the Savings Account for Minors below 18 years of age. These account helps children from India to learn the importance of saving money.
6) Student Account : Student Account as the name says is an account for the Students. This is usually a custom account made by the Bank through the School Authorities and is not available directly at the branch.
7) Special Salary Account : SBI also offers special Salary Accounts for employees from the various fields of Corporates, Schools, Colleges, Universities, Government establishments/ organizations, Railways, Police establishments, Defence Personnel etc.
8) 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 SBI
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 SBI 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 SBI. 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 SBI Account Opening Form from any branch of SBI. Fill up SBI Account Opening Form completely and put your signature wherever required. You can also take help of SBI 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 SBI internet banking and mobile banking separately.
Read Also : Steps to Fill up Account Opening Form in SBI
3) Visit the Branch : After you have the duly filled SBI Account Opening form and the necessary KYC Documents, you need to visit the SBI 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 SBI 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 SBI 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 for a SBI 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 SBI
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 SBI Customer Care Number in your mobile phone.
4) Contact SBI 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 SBI to request to block your account or a particular service on your account to prevent unauthorized use.
Read Also : How to Block SBI ATM Card ?
Things you must know before opening a bank account in SBI
You must know some important things before you apply for a bank account in SBI. You can clear the queries mentioned below at any SBI Branch or by calling SBI Customer Care Numbers.
- Is there a monthly/quarterly fee for maintaining this Account in SBI ? If so, what is it?
- Is there a minimum balance that I must keep within this SBI 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 SBI 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 SBI ATM ?
SBI Customer Care Numbers
At any point of time, you need help from SBI Customer Care department, you can either reach them on the Toll Free numbers given below or can opt to write at the address mentioned below.
Toll Free Numbers : 1800 11 2211 / 1800 425 3800 /080-26599990.
Write to SBI Customer Service Department :
Customer Service Department,
State Bank of India,
State Bank Bhavan, 16th Floor,
Madam Cama Road,
Mumbai 400 021.
Tel : 022-22029456
Fax : 022 22742431
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