Application for Opening Bank Account: Best Sample and Instructions

Planning to open a bank account? You might be wondering what’s the procedure for opening a bank account. Opening a bank account usually takes 1 to 2 days and applicants need to fill out an application for opening a bank account and submitting all the necessary documents.

The application for opening a bank account is a straightforward process, where you can fill out the application form of a particular bank online or offline. You simply need to choose a particular bank in which you wish to open a bank account, gather all the required documents, select the right type of account, and submit your application form. Let’s dive into the stages involved in the application for opening bank accounts.

Also Read – Best Bank Accounts for International Students in USA

How to Open a Bank Account?

18 years is the minimum age for opening a bank account in India. However, according to the guidelines of the Reserve Bank of India (RBI), a savings account option is available for minors who are more than 10 years old. 

Let’s say you are 18 years old and now want to open a bank account. Your immediate concern will be to choose the right bank and the type of account you want to open.
There are several stages involved in opening a bank account successfully which are listed below:

• Research and select a bank which suits your needs such as location, types of accounts, account opening fees, customer service, etc
  
• Collect all the necessary documents to verify your identity and financial information. These documents include a government-issued ID card, a utility bill or rental agreement for address proof, an initial deposit and its slip, etc
  
• Select the right type of account that you wish to open. There are several types of bank accounts, such as Checking Accounts, Savings Accounts, Money Market Accounts, and Certificates of Deposit Account(CDA)

Once all the stages have been finalised, you will have to visit the bank or visit their official website online. If you visit the local branch of a bank account, there will be a bank official who will guide you through the entire process of your bank account application. In case you are opening a bank account online, you will have to visit the official website of the bank and follow the instructions listed there. You will have to upload a scanned copy of all the required documents and pay the deposit fee online.

Before submitting your bank account application form, review all the details you have provided and understand the terms and conditions of your new bank account. Once your application has been accepted by the bank, you will receive your account details, such as the account number and routing number. Make sure to keep these details confidential.

Sample Application For Opening Bank Account

Applicants can check the sample given below to complete their application for opening a bank account: 

‘Personal Information:

• Full Name: _________________________________
• Date of Birth: _______________________________
• Social Security Number (SSN) or Taxpayer Identification Number (TIN): __________________
• Residential Address: __________________________
• City: ___________ State: ______ Zip Code: ______
• Mailing Address (if different): __________________
• City: ___________ State: ______ Zip Code: ______
• Phone Number: _______________________________
• Email Address: _______________________________

Account Type:

• Checking Account
• Savings Account
• Certificate of Deposit (CD)
• Money Market Account

Additional Account Features (if applicable):

• Debit Card
• Overdraft Protection
• Online Banking
• Mobile Banking
• Bill Pay

Initial Deposit:

• Amount: $___________
• Employment Information (if applicable):
• Employer Name: _____________________________
• Occupation: _______________________________
• Work Address: _____________________________
• City: ___________ State: ______ Zip Code: ______
• Phone Number: _______________________________
• Financial Information:
• Annual Income: $___________
• Source of Income: ___________________________

References (if required by the bank):

Reference 1: _______________________________

• Name: _______________________________
• Phone Number: ________________________

Reference 2: _______________________________

• Name: _______________________________
• Phone Number: ________________________

Terms and Conditions: I have read and understood the terms and conditions of the bank’s account agreement, including any fees associated with the account, and I agree to abide by them.

Signature: _______________________________ Date: ________________

Bank Representative’s Notes (for bank use only):

• Account Number: ___________________________
• Account Approved By: _______________________
• Date Account Opened: _______________________

*Note – Applicants must note that this is just a sample of a bank account application and the actual bank account application may differ.

Documents Required for Opening Bank Account

While filling out the application for opening a bank account, applicants need to submit all the required documents which work as proof of their identity. Here’s a list of all the documents required for opening a bank account.

• A government-issued ID card (Aadhar card/ Passport/ Driving license)
• Passport-size photograph
• Address proof
• Matriculation certificate/ intermediate certificate

FAQs

For more such informative blogs, make sure to visit our Application Process page at Leverage Edu.