All About State Bank Of India (SBI) Savings Account: Interest Rates, How To Apply And Other Details

State Bank of India (SBI) has opened over 2 crore savings bank accounts this financial year while it has closed more than 41 lakh savings accounts in this financial year until January. The largest bank of the country, SBI, said the savings bank accounts which were shut were "not closed suo motu", which means that they were closed only after the account holders asked them to be closed. The bank today said that it has opened 2.10 crore savings accounts in fiscal 2018, out of which 1.10 crore are Pradhan Mantri Jan-Dhan Yojana (PMJDY) accounts, which are exempt from maintaining any average monthly balance. Opening a savings account with SBI is easy but requires you to know important things if you want to open one.

(Also Read: National Pension System (NPS)- State Bank Of India Points Out Five Rules To Know)

How to fill an application for SBI's savings accounts:
You may fill up an application online for opening a Savings Bank account. The process in brief would be as follows:

Fill up and submit the required details online, said SBI.

(Also Read: SBI Zero Balance Saving Account, Interest Rates, Other Details)

Print the account opening form (AOF) on A4 size white papers, stated SBI on onlinesbi.com.

(Also Read: SBI's Latest Interest Rates On Home, Car, Education Loans)

Attach the required documents, such as photographs and proof of identity and address, as mentioned in the AOF.

(Also Read: Important Things To Do Before March 31 If You're An SBI Customer)

A TCRN (Temporary Customer Reference Number) will be generated, which you should note down. TCRN will also be sent on the registered mobile number of the applicant(s).

Documents you need to provide to open SBI savings accounts:
The customer identification will be on the basis of documents provided by the customer as (a) Proof of identity and (b) Proof of address. The customer has to submit the prescribed application form along with Photographs all cases.

(Also Read: SBI Closed 41 Lakh Savings Bank Accounts Between April And January. Here's Why)

(a) Proof of identity (any of the following with authenticated photographs thereon):

(i) Passport. (ii) Voter ID card (iii) PAN Card (iv) Govt./Defence ID card (v) ID cards of reputed employers (vi) Driving Licence

(b) Proof of current address (any of the following)

(i) Credit Card Statement (ii) Salary slip (iii) Income/Wealth Tax Assessment Order (iv) Electricity Bill (v) Telephone Bill (vi) Bank account statement (vii) Letter from reputed employer (viii) Letter from any recognized public authority (ix) Ration Card

Interest rates offered by SBI savings accounts:

Revision of Interest Rates on Savings Bank Deposits With effect from 31st July 2017: