Bank Of Baroda Account Savings Account
Documents required for Bank Of Baroda Account Savings Account 2022
Documents required for Bank Of Baroda Account, the applicant is required to submit following documents:
- Two latest Passport Size Coloured Photographs
- A duly filled up Account Opening Form (AOF)
- Copy of PAN Card/ Form 60 (with reasons of not having PAN Card)
- KYC (Know Your Customer) Form with Documents : Proof of Identity & Proof of Address
- Proof of Date of Birth (DOB) in case of Minor & Senior Citizen
When the customer submits all the above-mentioned documents for opening the account, the bank will verify the documents and the details mentioned in the application form in order to ascertain whether he is eligible for the savings account or not.
Remember that these documents are to be submitted along with Account Opening Form (AOF) at the time of opening a savings bank account. You will have to produce the original documents for verification to the bank.
After a successful verification of these documents by the banker, your savings account is opened. Sometimes the bank may insist upon producing an introducer, who is an existing account holder of Bank Of Baroda Account .
Details about KYC (Know Your Customer)
KYC stands for Know Your Customer, it is commonly used term in the banking or financial arena. It is a customer identification process that has mandatorily be complied by banks where they need to collect some required information about the identity and address of the customers.
Identity of a person remains same throughout the life of a person but address may change from time to time in his/ her lifetime. It is to be noted that whenever the address of customer changes, he/ she is required to submit a proof of new address to the Bank Of Baroda Account.
KYC documentation not only prevents money laundering practices, avoids frauds, benami accounts, etc., it also helps establishing a long term relationship of the bank with its customers.
Documents used as a Proof of Identity
- Passport
- PAN Card
- Aadhaar Card
- Voter's Identity Card
- Driving Licence with Photograph
- Identity Card/ confirmation from employer(Subject to the bank's satisfaction)
- Letter from a recognized public authority or public servant verifying the identity and residence of the customer to the satisfaction of bank
- NREGA job card
- Identity Card / Document with applicant's photo, issued by :
- Central / State Government and its Department
- Statutory / Regulatory authorities
- Public Sector undertakings
- Colleges affiliated to Universities (this can be treated as valid only till the time the applicant is a student)
- Professional bodies such as ICAI, ICWAI, ICSI & Bar Council etc to their members
- Credit Cards / Debit Cards issued by banks with photo
Documents used as a Proof of Address
- Passport
- Voter's Identity Card
- Driving Licence
- Utility Bills (latest): Telephone bill, Electricity bill, Gas bill, Water bill)
- Bank account statement
- Letter from any recognized public authority
- Ration Card
- Letter from employer (subject to satisfaction of the bank)
- Other Bank pass books
- Self declaration by High Court & Supreme Court Judges giving the new address in respect of their own accounts
- Identity card/ Document with applicant's photo, issued by:
- Central / State
- Statutory/ Regulatory authorities
- Public Sector undertakings
- Scheduled Commercial Bank
- Colleges affiliated to Universities (this can be treated as valid only till the time the applicant is a student)
- Professional bodies such as ICAI, ICWAI, ICSI & Bar Council etc to their members
Documents used as Proof of Date of Birth (Required for Minor & Senior Citizen)
- Birth Certificate
- Government ID Card
- Passport
- School Leaving Certificate
- Driving Licence
- Voter's ID Card (with date of birth)
- Ration Card(with date of birth)
- LIC / Insurance Policy
- Pension Card (Issued by government)
Important Points for Bank Of Baroda Account Savings Account
- Research and open a savings account in a bank that offers maximum interest and other benefits
- You can download account opening from the websited of the banks as well
- You need to produce original documents to the banker for verification at the time of opening your bank account
- Interest in the savings account up to Rs 10,000 in one financial year is exempt from Income Tax w.e.f. financial year 2012-13
- It is mandatory to furnish the PAN (Permanent Account Number) details for cash transactions exceeding Rs. 50,000
- There is a guarantee of providing interest on a savings account up to the first Rs 1 lakh balance in the account.
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- Proof of identity - Passport, Driving license, Voter's ID card, etc.
- Proof of address - Passport, Driving license, Voter's ID card, etc.
- PAN card.
- Form 16 (only if PAN card is not available)
- 2 latest passport size photographs.
- The minimum quarterly average balance for BoB advantage savings accounts for urban and metro branches will be increased from ₹ 1,000 to ₹ 2,000 from 1 February 2019 and for semi-urban branches, the minimum balance will be ₹ 1,000. Till now, the customer had to maintain ₹ 500 in BoB semi-urban branches.
- You can go to your nearest Bank of Baroda branch and ask the bank officials how to open an account. You are asked to fill out a form.
- Government-issued ID: A driver's license or passport.
- Social Security Number: Some banks will accept an Individual Taxpayer Identification Number (ITIN) if you don't have a Social Security number.
- Date of birth.
- Address.
- Contact information.
- KYC Documents Individuals
- Passport.
- Voter's Identity Card.
- Driving Licence.
- Aadhaar Letter/Card.
- NREGA Card.
- PAN Card.
- This form is used for declaration to be filed by an individual or a person (not being a company or firm) who does not have a permanent account number and who enters into any transaction specified in rule 114B.