To open a savings account in State Bank of India (SBI) in Bangalore, you can follow these steps:
- Visit the nearest SBI branch in Bangalore.
- Request for a new savings account opening form from the bank representative.
- Fill up the form with your personal and contact details, including your full name, date of birth, address, mobile number, and email ID.
- Attach a copy of your identity proof (such as Aadhar card, passport, or voter ID) and address proof (such as utility bill, bank statement, or rental agreement) along with the form.
- Submit the form and documents to the bank representative.
- Deposit the minimum balance amount as per the bank's requirement to activate your account. This amount may vary depending on the type of savings account you choose.
Once your account is opened, you will be given a passbook and an ATM card. You can start using your account for depositing and withdrawing money, and for various other banking transactions.
Note that SBI offers various types of savings accounts with different features and benefits. You can choose the one that suits your needs and requirements.
State Bank of India (SBI) offers various types of savings accounts to cater to the needs of different customers. Here are some of the most popular savings accounts offered by SBI, along with their features:
- Savings Account: This is the most basic type of savings account offered by SBI, which is suitable for general customers. The minimum balance requirement for this account varies based on the location of the branch. Customers can withdraw cash, deposit cheques, transfer funds, and avail various other banking services through this account.
- Basic Savings Bank Deposit Account (BSBDA): This account is meant for customers who want to open a savings account with zero or minimal balance requirements. The account can be opened with just one document as identity proof, and customers can avail of a debit card with no annual maintenance charges. However, this account has certain limitations on the number of transactions and the maximum balance that can be maintained.
- Savings Plus Account: This account is suitable for customers who want to earn higher interest rates on their savings while enjoying the flexibility of a regular savings account. The account allows customers to link their savings account with a Multi Option Deposit (MOD) account, which automatically transfers excess funds from the savings account to the MOD account. This excess amount earns higher interest rates than the regular savings account.
- Digital Savings Account: This account is meant for tech-savvy customers who prefer to conduct most of their banking transactions online. Customers can open the account through the SBI YONO app, and avail of various features such as instant account opening, zero balance facility, and cashback offers on transactions.
- Youth for India Savings Account: This account is designed for young customers between the ages of 18 and 30 years. The account offers various features such as discounts on shopping, cashback on mobile recharge, and free ATM withdrawals. Customers can also avail of an overdraft facility against their fixed deposits.