We’re talking about Indian Bank, which plans to grow into every corner of India by 2025. People in India are now taking use of Indian Bank’s financing capability, with a 3.63% gain in January 2025 its customer base. This bank is one of India’s lesser-known financial transaction banks. In today’s article, I’ll explain you how to open a new account with Indian Bank along with giving more details.
Before opening a new account in Indian Bank, you should know about its important information.
How to Open Saving account in Indian Bank
To open a new savings account, visit your nearest bank branch to sign Indian Bank Savings Account Opening Forms, which will be filled out by the bank’s staff. You have to provide your Aadhaar card as well as your PAN card for the kyc process.
But while opening a new account, it is important for you to know some important things because many bank officials can charge you money for insurance plans and other non-compulsory products on opening an account. Today in this article. I will share with you all the information related to opening an Indian Bank account with my experience.
- Visit the nearest Indian Bank branch.
- Go to the counter and request to open Indian bank savings account.
- Provide your Aadhaar card and PAN card to the bank officer.
- Sign the Indian Bank Saving Account Forms.
- The bank will start the account opening process.
- On completion of the process, you will be given a bank passbook and ATM card.
- Deposit cash or online maintenance balance amount (AMB) which will be credited into saving account.
- Now you will be given an ATM card, ATM PIN will be set and given to you by the bank staff.
- Now your savings account in Indian Bank will be activated in which you will be able to do your financial transactions.
5 Things to know before opening Indian Bank saving account
If you do not have any information about opening a new account, the bank may charge you extra money by selling you unnecessary services or activating them in some way, therefore it is critical to understand all of the crucial details before opening a new account.
- Indian Bank has Rs.1000 Minimum Balance Requirement.
- It is not required to enroll any kind of insurance plan, such as PMSBY or PMJJBY, while opening an account.
- PAN card is not required to open Indian saving account.
- You will have to pay Rs.118 for ATM Card.
- ATM card will be provided to you from the branch itself.
Don’t get any Insurance policy while opening saving account
There may be an Indian Bank or another financial institution in any city or town in India, but when it comes to corruption and bribery, many people scam others in the hope of making more money. In this article will discuss corruption in Indian banks, where individuals are being scammed owing to a lack of knowledge.
When you open an account at any bank, the staff will ask you to get insurance. This is a government insurance scheme that the bank staff encourages you to enroll in by deducting Rs.436. They often claim that it is mandatory, although it is not. This insurance policy is known as the Pradhan Mantri Jeevan Jyoti Bima Yojana, which means that if a person dies for whatever reason, the family receives Rs 2 lakh.
I was not aware of this insurance policy, and the bank staff forced me to sign for it, but when I refused, they were obstructing me from opening the account.
Since I really needed a new account at the moment, I deposited Rs.1600 to get activated my saving account.
It left Rs.1100 in my account balance.
After some time, I saw that my account has Rs.500 on hold.
When I shared this information with the customer care support team, I came to know that it can be released by lodging a complaint, i.e. this amount is held when a person complains about a wrong transaction.
But I was confused because this account was new and no one had done any transaction in this account.
After this, I got a message of ₹20 debit in which I got details related to Pradhan Mantri Suraksha Bima Yojana.
Now I understood and I lodged a complaint through Indian Bank application where I got a call from the home branch and Rs.500 was successfully released in my account.
If the bank officer asks you to take any kind of insurance plan, then you can refuse it outright or after opening the account, you can complain about it in the head branch.
If staff members tell you that it is mandatory to activate any insurance plan, you may lodge a complaint with the customer care helpline. You can dial the toll-free Helpline No 1800-425-00-000 to get the email address of your nearby headquarters and contact them.
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