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Bandhan Bank Savings Account

Bandhan Bank offers its customers a range of service and products comprising the gamut of the financial sector, from loans to fixed deposits and various accounts. The bank has expanded its reach across the country but its focus lies in the eastern and north eastern regions. The bank is attempting to provide the people in these regions with the best in financial service quality and products.

The bank began providing its customers with services right from day one through it’s over 500 branches. The bank continues to expand and plans on extending its reach by having over 2,000 branches operational by the end of March 2016.

In keeping with its promise to make financial services accessible to all, most of its branches are in the rural areas and regions that have so far been neglected when it comes to banking services.

To cater to the needs of its clientele, the bank has launched several products, one of them being savings accounts. Bandhan offers individuals attractive rates of interest in an effort to encourage them to save.

Bandhan Bank Savings Account Interest Rate

Daily Balance Rate of Interest (p.a.)
Up to Rs.1 lakh 3.00% p.a.
More than Rs.1 lakh up to Rs.10 crore 6.00% p.a.
More than Rs.10 crore up to Rs.50 crore 6.55% p.a.
More than Rs.50 crore 7.15% p.a.

Note: The rates of interest mentioned above are applicable as of 7 September 2020.

Minimum Balance Requirements for Bandhan Bank Savings Accounts

Bandhan Bank’s minimum balance requirements are given below:

Savings Account Type Average Monthly Balance Requirement
Premium Savings Account Rs. 1, 00, 000
Advantage Savings Account Rs. 25, 000
Sanchay Savings Account Rs. 2, 000
Standard Savings Account Rs. 5, 000
Special Savings Account Rs. 5, 000
GOS Savings Account Nil
TASC Savings Account Nil
BSBDA Savings Account Nil
BSBDA-Small Savings Account Nil

Types of Bandhan Bank Savings Accounts

Premium Savings Account: The Bandhan Bank Premium Savings Account provides accountholders with a range of privileges and premium services such as phone banking, fund transfers and cheque books free of charge. Holders will also enjoy shopping and dining privileges as well as invitations to various events like exhibitions, concerts etc.

Advantage Savings Account: With the Bandhan Bank Advantage Savings Account, enjoy facilities such as a higher rate of interest and increased transaction limit along with services like any branch banking and internet banking. Avail of benefits such as free cash withdrawal at ATM’s and instant fund transfer services.

Sanchay Savings Account: The Bandhan Bank Sanchay Savings Account offers account holders a host of services to make banking a simple and hassle-free experience. As an account holder, track your account balance and spends anywhere, anytime through net banking and mobile banking. Enjoy all the services of a premium account without the need to maintain a high balance, such as SMS alerts and any branch banking, among others.

Standard Savings Account: Begin saving with the Bandhan Bank Standard Savings Account and enjoy perks and benefits such as high rates of interest, low minimum balance requirement and a host of services. Make banking transactions convenient with internet banking and keep track of your account balance with transaction alerts. Enjoy privileges such as online fund transfer and phone banking.

Special Savings Account: The Bandhan Special Savings Account is a unique offering for the ddifferently abled, providing them with banking services at a nominal cost. Account holders can enjoy a number of services such as mobile banking, home delivery of cash and cheque as well as internet banking free of cost. Holders will also receive a Debit card with annual fees waived off.

GOS Savings Account: Specially designed for Central and State government departments, this offering from the bank provides these bodies with subsidies and grants. There is no minimum balance requirement and holders will enjoy services such as doorstep banking, free Demand Drafts as well as complimentary internet banking facilities.

TASC Savings Accounts: Designed for non-profit organisations, the Trust, Association, Society and Club (TASC) Savings Account provides these bodies with special services such as collection of local cheques, doorstep banking and 60 cheque leaves per quarter free of charge. Please refer to the bank’s website for a complete list of rules regarding opening an account.

Basic Savings Bank Deposit Account (BSBDA): This offering is for those individuals who wish to maintain a savings account without the burden of maintaining a balance. This is a zero-balance no-frills account that provides the accountholder with a free Debit card.

Basic Savings Bank Deposit Account- Small: This account is for those individuals who wish to open a savings account but do not have the necessary documentation to do so. Such individuals can open an account subject to certain restrictions regarding withdrawals and deposits (kindly refer to bank’s website or contact a branch for details).

Opening a Bandhan Bank Savings Account

Those individuals seeking to open a savings account with Bandhan Bank can do so through two mediums- online account opening as well as offline account opening.

To open a Savings Account online, applicants can visit the bank’s official website and select thee Savings Account tab from the “Products” section. They can choose the type of Savings Account they wish to open and click on “Apply”. They will be taken to a page where they will have to enter their details, after which a bank representative will contact them regarding opening an account. They can also choose to download the application forms and fill in the relevant information. The filled in forms can be submitted at the nearest Bandhan Bank branch, where the information will be verified. Once the bank has completed their processes, the account holder will be issued a Starter Kit and can begin using the Savings Account.

For those who do not have access to the web, the Savings Account can be opened by visiting the bank branch and collecting the Account Opening Form. The applicant will have to fill in the required details and submit the filled in form to the branch, whereupon the bank will verify the information and then issue the applicant with his Starter Kit.


Indian citizens can open a Savings Account with the bank. The eligibility criteria for Bandhan Bank Savings Accounts are as follows:

  • Hindu Undivided Families
  • Individuals (singly or jointly)
  • Trusts, associations, government bodies, religious institutions, clubs etc

Account Opening Documents

The following documents have to be submitted when opening a Savings Account:

  • Proof of identity
  • Proof of residence
  • Photographs

Proof of identity documents

Any one of the below documents can be submitted as proof of identity to open a Savings Account:

  • Voter’s ID card
  • Permanent Account Number (PAN) card
  • Passport
  • Government issued photo identity
  • Driving licence
  • Aadhaar card

Proof of residence documents

Any one of the following documents can be submitted as proof of residence to open a Savings Account:

  • Passport
  • Aadhaar card
  • Utility bills (electricity bill, telephone bill)
  • Bank account statement

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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