How do you open an SBI account? It’s not like there’s one place online that explains all the steps in detail. As with most things, the path to opening an SBI account involves several steps, some of which can be a little confusing if you don’t know what to look for or how to fill out the form.
Luckily, this guide makes it easy to get started by walking you through each step and offering tips on what information to provide in order to complete your SBI account opening form quickly and accurately. Let’s get started!
What Does the Application Look Like?
The SBI account opening form is available online for non-individual Indian citizens or NRIs (non-resident Indians) who live outside of India. The application is also available as a PDF file that you can download if you need hard copies of any forms.
Account opening form has 23 different sections that you need to fill out, but only some of them are required. You must provide your name, address, phone number, email address and date of birth, for example.
The bank’s representative will ask you to verify your identity through either a copy of your passport or any two other documents like a driving license or voter ID card.
In India, you have to be a resident individual (have proof of residence) or a non-resident Indian (NRI) in order to open an account with the State Bank of India. Residents can open zero-balance accounts whereas NRIs can open regular accounts.
Non-resident Indians may either operate a current account or savings account in U.S. Dollars, Great Britain Pounds Sterling, Euro Euros or Japan Yen from anywhere outside India with no minimum balance requirement. For residents of India, it is mandatory to maintain a minimum average monthly balance for different types of accounts.
For semi-urban areas, it is Rs 1,000 and for urban areas, it is Rs 2,000. For rural areas, it is Rs 1,500 per month. If there are insufficient funds in your account at any point during that month then there will be penalty charges levied on your account depending on how much below these required amounts you fall.
What Is an NRE/FCNR Account?
A non-resident external (NRE) account is an account held by a foreign national (individual or HUF) in a bank outside India. It does not require any prior approval from the Reserve Bank of India for transactions on the repatriation of funds.
FII (Foreign Institutional Investors)/FPI (Foreign Portfolio Investors) are examples of NRE accounts. In NRE accounts, interest earned is exempt from income tax if it is credited back to such accounts. FCNR(B) is a fixed deposit scheme introduced by SBI for non-resident Indians (NRIs).
Under FCNR(B), deposits can be made in US Dollars, Pound Sterling, Euro and Japanese Yen. The tenure of these deposits ranges between one year to five years. Interest rates offered under FCNR(B) are higher than those offered under NRE Fixed Deposits schemes.
The first section of your SBI account opening form is all about your personal details, so you’ll be required to fill in things like your name, date of birth, and gender. You’ll also need to provide information about your permanent address as well as a secondary address if applicable.
If you are married, then you will need to include your spouse’s name and other relevant details. If there are any changes to these details at any point in time, then it is important that you update them accordingly with SBI.
Documents Required to Open an Account in Person
- PAN Card
- Address Proof- Passport, Voter ID card, Driving License or a latest utility bill.
- Photographs for e-KYC (one for POA and one for customer)
- Documents relating to proof of identity and address can be submitted by applicants who do not have e-KYC documents at SBI branches where e-KYC facility is available.
- Copy of a recent photograph of self (in colour)
- Signature Card with full name, mobile number and email ID (if available)
What Should I Know Before Applying?
SBI account opening form is a lengthy process, where your name, date of birth, address and several other details are entered into a PDF document online. Before filling out an SBI account opening form for non-individuals (i.e., residents of India), it’s a good idea to make sure you have all relevant information on hand.
This includes your proof of identity, proof of address and any other documents required by SBI. You can also find instructions for filling out an SBI account opening form online; however, these instructions vary depending on whether you are applying as a resident individual or non-individual.
For example, if you are applying as a resident individual, you will need to provide your Aadhaar card number and bank account number.
If you’re using as a non-individual, such as a company or business entity, then additional information will be requested from your authorized representative. It’s essential to check with SBI directly before completing a sbi account opening form fill up pdf.
Download SBI Account open Form PDF
|Article||Account Opening Form|
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|Beneficiary||SBI Bank Customer|
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Additional Documents Required for Joint Accounts
Your SBI account opening form will ask you whether you’re opening a joint account or not. Joint accounts require additional documentation, like passport copies of all account holders.
The account holder has to be an Indian resident who is at least 18 years old. If you do open a joint account, it must be with someone who meets these requirements as well no exceptions.
Additional Documents Required For Minor Accounts
In addition to filling out your SBI account opening form, you will need additional documents to open a Minor savings account. These include either a copy of your minor’s passport (for minors under 16) or their birth certificate.
You may also need a copy of your current ID card/passport and proof of address (utility bill). Call your local branch or Customer Care for advice when in doubt. The bank can then help guide you through how to fill out your SBI account opening form properly.
Additional Documents Needed When Opening an NRI/Foreign Currency Account
In case, you are an NRI or OCI (Overseas Citizen of India), you need to submit additional documents as mentioned below:-
- Copy of Passport/Voter ID card/Driving License/PAN Card or a letter from Indian Embassy / Consulate abroad in original with an attested photograph affixed on it for verification purpose.
- In case, you are submitting a copy of your passport, you need to submit a photocopy of the first two pages (for name, date of birth & passport number)
- Original NREGA Job Card (only for NREGA Beneficiaries)
- Proof that you have resided at your current address for at least one year like electricity bill, bank statement etc.
- For foreigners, your home country’s ID is also acceptable.
There will be fees associated with opening and closing these accounts; however, there are often extra perks associated with them as well.
This can range from higher interest rates on deposits or lower rates for remittances. It’s important to weigh all of your options before making any decisions. If you’re still unsure what type of account is best for you, consider speaking with a financial advisor.
The SBI Account Opening Form is a mandatory document needed when opening up an account with SBI. The form can be downloaded online or filled out manually by hand. You’ll need your PAN card, and other identification cards like a voter ID or photo passbook.
It’s advised that you fill out all information in English letters any missing information can lead to problems later on so it’s better to make sure everything is filled in correctly before submitting your application.
Once completed, take two copies of your form to your nearest SBI branch along with a few other documents including proof of address (like a utility bill) and proof of identity (like a passport). Once submitted, your account will be opened within 1 – 2 days.
Thank you for reading our post on SBI Account Opening Form: How to Download and Fill Out! If you have any questions about SBI accounts, please leave them in the comments below!