Benefits of Opening Allahabad Bank Current Account
- Cash Withdrawals
- Overdraft Facility
- Issuance of Cheque Book
- Online Transactions Facility like paying bills online
Eligibility Criteria for Opening Current Account in Allahabad Bank
Current Account in Allahabad Bank can be opened by any of the following business entities:
- Hindu Undivided Family (HUF)
- Sole Proprietorship
- Private Limited Company
- Public Limited Company
- Limited Liability Partnership (LLP)
- Foreign Institutional Investor (FII)
- Foreign National Residing in India
Open a Current Account in Allahabad Bank?
If you want to open a current account in Allahabad Bank, you need to follow below-mentioned steps:
(1) Visit the Bank BranchYou need to visit the bank branch in which you want to open your account.
(2) Fill up Account Opening Form (AOF) for Current AccountGet the Account Opening Form and fill up all the necessary details of the customer’s information and other details in the different sections given in the form like name, address, contact number, email id, PAN, type of account to be opened, nominee’s name, etc.
(3) Attach Required (Mandatory) Documents with the AOFAfter completing filling up the account opening form, you need to attach KYC documents on the basis of the type of account you are willing to open like a savings account, current account, etc. These documents will also depend upon your status like Individual, HUF, Proprietor, Partnership Firm, Company, Trust, etc.
(4) Verification of AOF & Other Documents by the BankerThe banker will verify AOF and other attached documents. If he is satisfied with these requirements, he/ she will proceed further.
(5) Deposit Minimum Balance Amount in the account after that, you will be allotted an account number and you are required to deposit the minimum required balance in your account.
(5) Obtain Cheque Book, Passbook & Other Documents from the BankAfter that, your account will be successfully opened and the banker will hand over Cheque Book, Passbook & Other Documents to you and then you will be allowed to make the transaction from your account.
Important Points regarding Opening an Allahabad Bank Account
- Select a nearby bank branch.
- Take the original KYC documents with you for verification purposes.
- Do keep your entity’s stamp with you at the time of opening the account.
- For a single business, there cannot be multiple current accounts.
- Remember that a higher minimum account balance is required under a Current Account.