what are the various formalities involved in opening a bank account .

Following Steps involved in opening a Bank Account:

(1) Approach any Bank of your choice for opening an Account therein. Choice of Bank generally depends on its location, facilities offered and its market reputation.

(2) Then fill application form for Opening a Bank Account. Following documents are also attached with form:

(a) For Identity Proof – copy of Vote ID or Passport or Driving License.

(b) For Residence Proof – Copy of Ration Card or Driving License.

(c) Copy of PAN Card

(d) Self attested passport size photographs. 

(3) Sign an agreement with bank. This agreement contains all rules and regulation to be followed by the Account holder as well as by bank at the time of conducting a transaction. Keep copy of this agreement.

(4) After verification of documents submitted, within few days a person gets his Bank Account Number.

(5) Deposit minimum Cash in the account. This amount differs from bank to bank. However, in case of Zero balance Account, Account holder is not required to deposit any minimum cash amount initially.

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