Savings Account Eligibility

Eligibility to Open Savings Account: Banks offer various types of accounts to the customers such as Savings Account, Current Account, Fixed Deposit Account, Recurring Deposit Account, etc. Each type of account has different eligibility criteria. Savings Bank Accounts can be opened by an eligible individual in single name or jointly with others.

Eligibility to open a Savings Account in

  1. A person who is a resident Indian, non-resident Indian (NRI), Hindu Undivided Family (HUF) or foreign national can open a savings bank account.
  2. In case of Hindu Undivided Family (HUF), Declaration from the Karta is required
  3. Minors can also open a savings account which will be a Minor Account. Except minor account holders, all the other persons who want to open an account must be over 18 years of age.
  4. There is a requirement of guardian in case of savings accounts opened by a minor
  5. Cheque or Cash towards Minimum Deposit Amount
  6. The applicant is required to submit Proof of Address (POA) and Proof of Identity (POI) in his/ her own name under Know Your Customer (KYC) requirement.
  7. A self attested copy of Permanent Account Number (PAN) is also required under Know Your Customer (KYC) requirement.
  8. Salary accounts can only be opened for salaried persons and not for others
  9. Sometimes the bank may insist upon producing a guarantor or introducer for opening the account.
                

Specific Points regarding Eligibility Criteria for a Savings Account in

  • Non-Individual Entities like Firms, Companies, Trusts, Association, etc. are not eligible to open Savings Accounts in India.
  • Furnishing KYC documents is mandatory in order to open a Savings Account in India.
  • Minors & Senior Citizens need to produce a proof of their age before opening a Savings Account.

Check Eligibility to Open Saving Account in other Banks

Allahabad BankAllahabad Up Gramin Bank
Andhra BankAndhra Pradesh Grameena Vikas Bank
Andhra Pragathi Grameena BankArunachal Pradesh Rural Bank
Assam Gramin Vikash BankAu Small Finance Bank Limited
Axis BankBandhan Bank Limited
Bangiya Gramin Vikash BankBank Of Baroda
Bank Of IndiaBank Of Maharashtra
Baroda Gujarat Gramin BankBaroda Rajasthan Kshetriya Gramin Bank
Baroda Up Gramin BankBharatiya Mahila Bank Limited
Bihar Gramin BankCanara Bank
Capital Small Finance Bank LimitedCatholic Syrian Bank Limited
Central Bank Of IndiaCentral Madhya Pradesh Gramin Bank
Chaitanya Godavari Grameena BankChhattisgarh Rajya Gramin Bank
City Union Bank LimitedCorporation Bank
Dcb Bank LimitedDena Bank
Dena Gujarat Gramin BankDhanalakshmi Bank
Ellaquai Dehati BankEquitas Small Finance Bank Limited
Esaf Small Finance Bank LimitedExport Import Bank Of India
Federal BankFincare Small Finance Bank Ltd
Gramin Bank Of AryavartHdfc Bank
Himachal Pradesh Gramin BankIcici Bank Limited
Idbi BankIdfc Bank Limited
Indian BankIndian Overseas Bank
Indusind BankJammu And Kashmir Bank Limited
Jammu And Kashmir Grameen BankJharkhand Gramin Bank
Karnataka Bank LimitedKarnataka Vikas Grameena Bank
Karur Vysya BankKashi Gomti Samyut Gramin Bank
Kaveri Grameena BankKerala Gramin Bank
Kotak Mahindra Bank LimitedLangpi Dehangi Rural Bank
Laxmi Vilas BankMadhya Bihar Gramin Bank
Madhyanchal Gramin BankMaharashtra Gramin Bank
Malwa Gramin BankManipur Rural Bank
Meghalaya Rural BankMizoram Rural Bank
Nagaland Rural BankNarmada Jhabua Gramin Bank
North East Small Finance Bank LimitedOdisha Gramya Bank
Oriental Bank Of CommercePallavan Grama Bank
Pandyan Grama BankPaschim Banga Gramin Bank
Pragathi Krishna Gramin BankPrathama Bank
Puduvai Bharathiar Grama BankPunjab And Sind Bank
Punjab Gramin BankPunjab National Bank
Purvanchal Gramin BankRajasthan Marudhara Gramin Bank
Saptagiri Grameena BankSarva Haryana Gramin Bank
Sarva Up Gramin BankSaurashtra Gramin Bank
South Indian BankState Bank Of Bikaner And Jaipur
State Bank Of HyderabadState Bank Of India
State Bank Of MysoreState Bank Of Patiala
State Bank Of TravancoreSuryoday Small Finance Bank
Sutlej Kshetriya Gramin BankSyndicate Bank
Tamilnad Mercantile Bank LimitedTelangana Grameena Bank
The Nainital Bank LimitedTripura Gramin Bank
Uco BankUjjivan Small Finance Bank Limited
Union Bank Of IndiaUnited Bank Of India
Utkal Grameen BankUtkarsh Small Finance Bank
Uttar Banga Kshetriya Gramin BankUttar Bihar Gramin Bank
Uttarakhand Gramin BankVananchal Gramin Bank
Vidharbha Konkan Gramin BankVijaya Bank
Yes BankZila Sahakari Bank Ltd