All About the Bandhan Bank Savings Account

Looking to secure your financial future and achieve your savings goals? A savings account is a type of bank account where you can deposit your money and earn interest on the balance. You can securely save money for future needs like emergencies, vacations, or big purchases. It is important to have a savings account as it helps you achieve your financial goals and provides cover for unexpected expenses. Putting money into a savings account allows your money to grow over time through the power of compounding interest. One bank that offers a variety of savings account options is Bandhan Bank.

Bandhan Bank offers different types of savings accounts to meet various banking needs. These include the Neo+ Digital Savings Account, Elite Savings Account, Premium Savings Account, Advantage Savings Account, Standard Savings Account, and Special Savings Account. Each account offers unique features and benefits to individuals with different financial requirements and Hindu undivided families in India. In this article, we will explore in detail the features and benefits of these banking accounts and how they cater to our needs.

Neo+ Digital Savings Account

The Neo+ Digital Savings Account is a hassle-free way to open a savings account. It offers a simple and secure account opening process that uses your Aadhaar number and PAN. With features such as quick access to the mBandhan mobile app and Internet Banking, a low monthly average balance of ₹5,000, attractive shopping offers, and the option to request a VISA Classic Debit Card and multi-city ‘at par’ cheques, this account is designed to meet your banking needs. To be eligible for the Neo+ Digital Savings Account, you must be an Indian citizen with a valid Aadhaar number and original PAN card and be over 18 years of age. The account opening process should be initiated from India only and requires documents like the original PAN card and a signature on white paper with a black pen.

Elite Savings Account

The Elite Savings Account from Bandhan Bank offers exclusive privileges for its account holders. With a monthly average balance requirement of ₹5 lakh, account holders gain access to personalized banking services. This account provides unlimited cash deposit and withdrawal transactions at the branch, along with multi-city ‘at par’ cheques and free cheque return and DD cancellation. Elite Savings Accountholders also enjoy free services such as cash withdrawals at other bank ATMs, funds transfers, and NEFT transactions through Internet banking and the mBandhan mobile app. The account also comes with a Platinum Debit Card offering various benefits at no issuance fee and zero annual maintenance charge.

Premium Savings Account

The Premium Savings Account offers premium benefits such as shopping, travel, dining, and entertainment. With a monthly average balance requirement of ₹1 lakh, account holders can enjoy features such as high cash deposit limits, unlimited branch cash withdrawals, free cheque leaves, and complimentary fund transfers. The account includes free services such as cash and cheque pickup, duplicate certificate issuance, and attestation facilities. The VISA Platinum Debit Card associated with the account offers a variety of standard and complimentary benefits, making it an easy option for individuals and Hindu undivided families residing in India.

Advantage Savings Account

The Advantage Savings Account is a great option for individuals and Hindu Undivided Families (HUF) looking to earn attractive interest on their savings. With a monthly average balance requirement of ₹25,000, this account offers many benefits, making it a valuable choice. Customers can enjoy perks such as a cash deposit limit of ₹5 lakh per month, unlimited branch cash withdrawal transactions, and the convenience of multi-city ‘at par’ cheque leaves. There are free transactions for cash withdrawals at other bank ATMs, funds transfers, and NEFT transactions through Internet banking and the mobile app, with the added advantage of a VISA Platinum Debit Card, free-standing instructions mandate, and a wide range of standard benefits, including digital banking and 24-hour customer care.

Standard Savings Account

The Standard Savings Account is perfect for anyone starting a savings plan. It’s easy to open, manage, and make transactions, requiring a monthly average balance of ₹5,000. With this account, you get benefits such as a free cash deposit limit of ₹2 lakh per month, unlimited branch cash withdrawal transactions, and 20 free multi-city ‘at par’ cheques per month. Users can make five free cash withdrawals at other bank ATMs and enjoy 2 free IMPS/RTGS/NEFT transfers per month. This account also comes with features like a passbook, multi-city ‘at par’ checkbook, debit-cum-ATM card, and access to digital banking services. To be eligible for this account, you should be an individual residing in India or a Hindu undivided family and maintain a monthly average balance of ₹5,000.

Special Savings Account

The Special Savings Account is designed to meet the unique needs of individuals with special requirements. This account provides a range of banking facilities while maintaining a low balance. With an attractive interest rate on the savings balance, the account requires a modest monthly average balance of ₹5,000. Customers can enjoy exclusive benefits such as convenient banking across all Bandhan Bank branches in India, a cash deposit limit of ₹2 lakh per month, unlimited branch cash withdrawal transactions, and free cash withdrawals at other bank ATMs. The account offers complimentary services, including multi-city ‘at par’ cheques, funds transfer options, a VISA Platinum Debit Card, and 24/7 assistance through the bank’s customer service.

Sanchay Savings Account

The Sanchay Savings Account offered by Bandhan Bank is a secure option for people looking to save and grow their money. With a beneficial interest rate, this account requires a monthly average balance of ₹2,000. Account holders can enjoy benefits such as a free cash deposit limit of ₹2 lakh per month, unlimited branch cash withdrawal transactions, and 20 free multi-city ‘at par’ cheques per month. The account offers benefits like free cash withdrawals at other bank ATMs, free funds transfers, and exclusive Debit Card benefits. The Sanchay Savings Account from Bandhan Bank offers convenient features such as free-standing instructions and 24/7 customer care. It also includes a passbook, a multi-city ‘at par’ checkbook, digital banking, and a nomination facility.

BSBDA Savings Account

The BSBDA Savings Account is an easy-to-open, manage, and transact account. With no minimum balance requirement and no maximum balance limit, it offers the freedom for people to manage their finances without the pressure of maintaining a certain amount. This type of account provides regular interest rates on the account balance and comes with a free ATM-cum-Debit Card and passbook. To open an individual BSBDA Savings Account, one needs to provide identity proof, address proof, and a recent passport-size photograph. The acceptable documents for proof include an Aadhaar card, passport, driving license, voter ID card, and others issued by the government. For joint accounts, both applicants need to provide address and identity proof documents.

BSBDA – Small Savings Account

The BSBDA Small Savings Account is a zero-balance account with no annual maintenance charges designed to make it easy for anyone to open and maintain a savings account. This account requires minimal documentation and has a maximum balance limit of ₹50,000. After opening the account, you have 12 months to submit the necessary KYC documents. It allows for 4 free cash withdrawals per month, including at Bandhan Bank and other ATMs, and electronic transactions such as NEFT/RTGS are also free of charge. The account comes with a free ATM-cum-Debit card and a passbook. The required documents include one passport-size photograph and the submission of actual KYC documents within 24 months of opening the account.

Bottom Line

Bandhan Bank offers a range of savings accounts to meet the banking needs of people in India. Whether you are looking for a hassle-free digital account, exclusive privileges, premium benefits, or a standard savings option, Bandhan Bank has you covered. With differing monthly average balance requirements, attractive features, and benefits such as free transactions, as well as cash deposit limits, there is a savings account suitable for everyone. Choose a Bandhan Bank savings account that suits your needs and start your journey towards financial security.