Jharkhand State Co Operative Bank Ltd Saving Account Eligibility

Eligibility to Open Jharkhand State Co Operative Bank Ltd 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 Jharkhand State Co Operative Bank Ltd

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 Jharkhand State Co Operative Bank Ltd

• 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