Bandhan Bank TASC Savings Account
To support non-profit organizations, Bandhan Bank offers a Savings Account called TASC (Trust, Association, Society, Club) specially designed to meet their needs. NGOs, hospitals, educational institutions, research institutes, and section 25 companies are eligible to apply for Bandhan Bank TASC Savings Account as per RBI guidelines.
Features of Bandhan Bank TASC Savings Account
- Free cash deposit limit of Rs.25 lakhs or 20 times of last month’s MAB whichever is higher per month
- Electronic fund transfer facility available to all Bandhan Bank TASC Savings Account holders
- Local cheque collection facility
- Monthly statement will be sent to the customers free of cost
- Customers will also get free consolidated annual statement of account
- Doorstep banking facility
Benefits of Bandhan Bank TASC Savings Account
- No minimum balance requirement
- Free 100 IMPS/RTGS/NEFT/DD per month
- Free multi-city at-par 500 cheque leaves per month
- Free school and membership fee collection
- Free internet banking
- Free passbook will be given to all Bandhan Bank TASC Savings Account holders
Who can open a Bandhan Bank TASC Savings Account?
- Any primary co-operative credit society which is financed by the bank
- Any farmer’s club/Vikas Volunteer Vahini
- Khadi and village industries board
- Agriculture produce market committees
- Registered or unregistered self-helps groups who are involved in promoting savings habits among their members
- DWCRA(Development of women and children in rural areas)
- Societies registered under the Societies Registration Act, 1860
- Companies governed by the Companies Act, 1956
- Government departments, agencies, or other bodies with authorisation from the respective government to open a Bandhan Bank TASC Savings Account
Who cannot open a Bandhan Bank TASC Savings Account?
- Government departments/bodies depending upon budgetary allocations for performance of their functions
- Municipal corporations
- Municipal committees
- Trading or business concern
- Partnership firms
- Panchayat Samitis
- State Housing Board
- Water and sewage department
- Drainage boards
- District Level Housing Co-operative Societies
- State textbook publishing corporations
- Metropolitan Development Authority
How to apply for a Bandhan Bank TASC Savings Account?
Customers can visit Bandhan Bank’s registered website and click on the “Products” option available. Choose TASC Savings Account under that to apply for it online. Once a customer clicks on the “Apply now” button, he/she will be asked to enter basic details like name, email ID, and mobile number. The customer has to fill in these details and click on the “Submit” button. Once the form is submitted, the customer will receive a call from an executive from Bandhan Bank who will explain the account opening process. Alternatively, customers can visit the nearest Bandhan Bank branch directly and fill out the TASC Savings Account opening form and submit it to the bank officer who will guide the customer throughout the account opening process.
Documents required to open a Bandhan Bank TASC Savings Account
The below documents are required to open a Bandhan Bank TASC Savings Account:
- Duly-filled account opening form
- One passport size colour photograph
- Address proof like passport/driving license/voter's ID/utility bill
- Identity proof like passport/driving license/voter's ID/photo debit/credit card
- Birth certificate of the minor
- PAN card or Form 60/61 where PAN card is not available
- A letter from their respective department/committee/Trust/Association/Club
Fees and charges
Particulars | Fees |
Average quarterly balance | Nil |
Non-maintenance charges | Nil |
Cash deposit | Up to Rs.5 lakh free per month |
IMPS/NEFT/RTGS | Up to 5 transactions free |
Cheque leaves | Up to 500 cheque leaves free per month |
Debit card issuance | Nil |
Debit card AMC charges | Nil |
ATM transactions in Bandhan Bank | Unlimited |
ATM transaction in Non-Bandhan Bank | Unlimited |
Issuance of passbook | Free |
Email statements | Free |
Issuance of annual consolidated statement | Free |
SMS alert facility | Free |
Debit card annual charges | Nil |
Debit card reissuance charges | Rs.150 |
Debit card Pin re-generation charges | Nil |
NEFT Transfer |
|
IMPS charges |
|
DD issuance charges |
|
Duplicate DD Issuance | Rs.100 per instrument |
DD cancellation/revalidation | Rs.100 per instrument |
Cheque stop payment | Rs.100 per instrument Rs.300 per series |
Cheque/ECS return | Rs.200 |
Duplicate passbook with current balance or with previous 400 entries | Rs.100 |
Duplicate annual consolidated statement | Rs.200 |
Additional cheque leave after the free cheque leaves | Rs.2 per cheque leaf |
Customer induced account closing within 6 months | Rs.300 |
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
FAQs on Bandhan Bank TASC Savings Account
- Can a political party apply for a Bandhan Bank TASC Savings Account?
No. A political party is not eligible to apply for a Bandhan Bank TASC Savings Account.
- Can I set-up standing instructions in a Bandhan Bank TASC Savings Account?
Yes. Standing instructions facility is available in Bandhan Bank TASC Savings Account.
- How can I re-apply for an ATM/Debit card pin?
Please follow the below steps to re-apply for an ATM/debit card pin:
- Download the application form from the bank’s website or collect it from a bank branch
- Submit the duly-filled form with your signature at the nearest Bandhan Bank branch
- Once the documents is received, the bank will verify the information and reissue your PIN
- The new PIN will be sent to your registered mailing address
- Will my Bandhan Bank TASC Savings Account expire if I do not use it for a long time?
If you do not use your account for more than 2 years, the account will be listed as “Dormant Account”. You cannot withdraw from the ATM or carry out any activities on net banking if the account is listed as dormant. You will have to get in touch with the bank to reactivate your TASC Savings Account.
- Are institutions whose entire income is exempt from payment of income tax eligible to apply for a TASC Savings Account?
Yes. Institutions whose entire income is exempt from payment of income tax under the Income Tax Act, 1961 are eligible to apply for a TASC Savings Account.
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