Want to Bank account opening but don’t know what it takes to open a bank account? Also, don’t know how much it costs to open a bank account? Then this post is for you.
There are various banks in Bangladesh. However, you can open almost the same types of accounts in banks: savings accounts, current accounts, student accounts, etc. Many people who have not opened a bank account before do not know what documents are required to open one.
In today’s post, we will learn the details about what it takes to open a bank account and how much it costs. So, let’s get back to the main topic of the post.
What is required to open a bank account?
To open a bank account, you must provide a photocopy of your voter ID card, proof of income source, a photocopy of your nominee’s voter ID card, a photo of yourself and the nominee, and several other documents.
The documents required depend on the bank account. For example, a student ID card is required when opening a student account. Again, a trade license or business information is needed to open a current account.
The documents required to open different bank accounts are discussed below. Let’s find out.
What is required to open a student account
Student accounts can be opened in various banks. Several documents, including a student ID card, are required to open an account. Below is a list of documents required to open a student account in a bank.
- A copy of the applicant’s national identity card or passport is required.
- Two recent passport-sized photographs of the applicant.
- A passport-sized photograph and a copy of the nominee’s national identity card.
- A certain amount of money is required to open an account.
- A copy of any utility bill to verify the address.
- A photocopy of the student ID card.
- Instant deposit amount and an active mobile number.
You can open a student account with the above documents in any bank. Student accounts can be opened in almost all banks in Bangladesh. If you want to open a student account in any bank, remember this information.
You can do banking free of charge using a student account. So, you can open a student account if you are a student.
What does it take to open a savings account
If you want to save money in a bank, you can open a savings account. Below is a list of documents required to open a savings account.
- A copy of the applicant’s national identity card or passport is required.
- Two recent passport-sized photographs of the applicant.
- A passport-sized photograph and copy of the nominee’s national identity card.
- The amount of money needed to open the account.
- A copy of any utility bill to verify the address.
- Proof of income source.
- An active mobile number for instant deposit funds.
If you want to open a savings account in any bank, you need to take some necessary documents along with the bank account opening form. Here are the documents required to open a savings account in any bank.
What it takes to open a current account
A bank current account is essential for businessmen due to the high transaction limits. The required documents are below if you want to open a current account.
- A copy of the applicant’s national identity card or passport is required.
- Two recent passport-sized photographs of the applicant.
- A passport-sized photograph and copy of the nominee’s national identity card.
- A certain amount of money is needed to open an account.
- A copy of any utility bill to verify the address.
- Proof of income source.
- Trade license and business documents.
- Instant deposit amount and active mobile number.
If you want to open a current account, the above documents are required. Although the documents may differ from bank to bank, all banks require almost the same type of documents.
If you want to open an account with a higher daily and monthly limit for business transactions, open a current account at the bank of your choice.
In the case of current account loans, there are higher limits and the convenience of withdrawing money at any time.
What is required to open a fixed deposit account
A list of documents required to open a fixed deposit account in any bank is mentioned below. Those who want to make savings in the bank can open a fixed deposit account. The documents required are:
- A copy of the applicant’s national identity card or passport is required.
- Two recent passport-sized photographs of the applicant.
- A passport-sized photograph and a copy of the nominee’s national identity card.
- It takes some money to open an account.
- A copy of any utility bill to verify the address.
- Proof of income source, instant deposit amount, and active mobile number.
In the case of a fixed deposit, money has to be deposited after opening a bank account. Profit is made from this money every month. Those who want to open a fixed deposit account or (FDR) can open an account by going to the bank with the above documents.
How much does it cost to open a bank account?
The amount required to open a bank account for instant deposit varies from account to account. It costs 100 to 200 taka to open a student account.
It costs 500 to 1,000 taka to open a savings account. It costs 1,000 to 5,000 taka to open a current account.
The amount of instant deposit required to open an account varies from bank to bank, but all banks require the above amount.
However, if you want to open a bank account online, you have to do so through eKYC. As a result, even if you do not make an instant deposit, the account can be opened. However, the system may differ slightly from bank to bank.
People also ask about bank accounts:
What does it take to open a bank account?
When opening a bank account, you are required to provide a photocopy of your voter ID card, your photo, your nominee’s photo, a mobile number, and photocopies of some other documents, as well as money for instant deposit.
How much does it cost to open a bank account?
Customers must deposit 500 taka to open a savings account and 1000 taka for a current account. However, this condition will not apply to opening a special account. If the deposit in the savings account is up to 10 thousand taka, no maintenance fee will be charged.
How many bank accounts can a person open?
There is no limit on the number of bank accounts a person can have. A person can open different types of accounts according to his/her needs.
Can a bank account be opened over the phone?
Through eKYC, you can open a bank account online from home using your phone. To do this, you need to install the bank’s mobile app.
Learn more:
Our final words
This post shares information about what documents are required to open a bank account and how much money is required. Those who want to open various bank accounts can find out what documents are needed from this post.
In addition, our website publishes rules for checking accounts of various banks, rules for opening accounts, and other important information related to banking.
We invite you to explore the website completely to learn about banking, bank loans, and mobile banking.
