Mainly concentrated in the eastern & north eastern regions of India, Bandhan Bank was established in 2014 in Kolkatta. Bandhan Financial Holdings, founded in 2001 as a microfinance providing company set up this bank. It provides an interest rate of 6% per annum to the savings account with a balance of over Rs. one lakh & for accounts having balance less than Rs. 1 lakh, the rate of interest is Rs. 4.25% per annum.
Any individual resident or Hindu undivided Family is eligible to open a savings account, either singly or jointly with Bandhan Bank. Trusts, Government Bodies, Religious Institutions, Associations, Clubs, etc. are also eligible to open an account with the bank.
Identity & address proof documents that qualify as account opening documents include driving licence, voter ID card, photo ID card cum address proof issued by Government, PAN card, passport & Aadhar card. These documents along with passport photographs are to be submitted to the bank for opening an account.
1. Premium Savings Account:
Required to maintain an average monthly balance of Rs. 100000, this premium savings account offers benefits like privileged shopping & dining experience and invitations to exhibitions, concerts, etc. The account holder is also entitled to facilities such as free fund transfers, phone banking and issue of free cheque books.
2. Advantage Savings Account:
Required to maintain an average monthly balance of Rs. 25000 in the account, this savings account offers features such as internet banking, instant fund transfers, high interest rate, increase transaction limits, free ATM withdrawals & any branch banking.
3. Sanchay Savings Account:
This no frills savings account provides many facilities that make banking simple. The account holder has to maintain average monthly balance of Rs. 2000 & is provided with facilities such as SMS alerts, any branch banking, internet banking facility and mobile banking facility.
4. Standard Savings Account:
The account holder can avail high interest rate with this account. An average monthly balance as low as Rs. 5000 is required to be maintained in the account. This savings account is provided with internet banking, online fund transfer & phone banking. Transaction alerts helps the account holder to track the account systematically.
5. Special Savings Account:
This account is the only one of its kind, which is especially designed for the special people, the differently abled. An average minimum balance of Rs. 5000 is to be maintained in the account. The account is featured with a host of benefits like mobile banking, doorstep banking, free internet banking &, free debit card.
6. GOS Savings Account:
This zero balance account providing subsidies & grants is meant for central & state government departments. Features such as doorstep banking, free demand drafts & complimentary internet banking services are provided.
7. TASC Savings Accounts:
As per the name – the Trust, Association, Society & Club (TASC) savings account is for non-profit making organisations. This zero balance account has benefits like doorstep banking, 60 free cheque leaves per quarter & local cheques collection. Rules on opening this account can be found on the bank's website.
8. Basic Savings Bank Deposit Account (BSBDA):
This is a zero balance basic account, in which the account holder is offered a free debit card.
9. Basic Savings Bank Deposit Account- Small:
This zero balance account is meant for individuals who do not possess the documents required to open an account. There are some conditions regarding deposits & withdrawal of funds, the details of which can be found on the bank's web portal or the same can be obtained from a branch.