State Bank of India (SBI) is the largest bank among the Big Four Banks in India along with Punjab National Bank, ICICI bank and Canara Bank. It is also the biggest financial services company and state-owned bank in India in terms of earnings, assets, revenues and market capitalization. SBI Bank is a public company registered in Bombay Stock Exchange (BSE) and London Stock Exchange (LSE).
It was established on July 1, 1955 and its principal office is located in Mumbai, Maharashtra, India. At present, its Chairman is Mr. O.P. Bhatt. According to Forbes, SBI is the 29th most distinguished company in the world and as of 2010, it has 200,299 employees all over the world and with over 16,000 branches making it the biggest banking network in India. It has also 131 abroad offices in over 32 countries as of December 31, 2009.
Some of the products offered by SBI bank are investment banking, consumer banking, mercantile banking, retail banking, private banking, asset management, pensions, mortgages and credit cards. As of 2010, it has a revenue amounting to US$ 19.51 billion, its profit to US$ 2.08 billion, total valuables of US$ 323.04 billion and total equity of US$ 18.519 billion.
Holding a savings account is the best action to save money. If you are thinking to apply for a bank account in India, I suggests you consider SBI bank for the reason that it is a famous bank not only in India but in other nations as well.
You can open a savings account if you have the all requirements which you can get in this piece of writing. Commonly, the common demands in opening a deposit account in India are the following.
Self-attested photocopies of the coming next supporting documents are required to be attached with the application. Originals thereof will have to be generated for verification.
i. Passport (where the address is alike as the address mentioned in account opening form)
ii. Income Tax Permanent Account Number (PAN) card. In case PAN card is not disseminated, Form 60/61 has to be submitted.
You should also bring the following requirements for beginning a new savings account in SBI bank.
1. For Evidence of Identity requirements, you can prepare the suceeding ID
i. PAN card
ii. Voter ID card
iii. Passport (where address differs)
iv. ID card of a creditable employer
v. Driving License
vi. Govt./Defense ID card
vii. Photo ID card issued by Post Office
2. For validating your Proof of Address, you may bring any one of the preceding
i. Electricity Account of charges
ii. Income Tax/Wealth Tax Assessment Order
iii. Credit card statement
iv. Salary slip (with address)
v. Telephone Statement
vi. Letter from a reputed employer
vii. Bank Account Invoice
viii. Letter from any acknowledged public authority
ix. Ration card
B. Two current photographs (2.5 cm x 3.5 cm)
C. In case of unable to read well customers, Left Thumb Impression (LTI) to be affixed and verified.
D. For applying of account of children, where evidence of identity/address is not available, the same will be catered by the Father/Mother and Natural Guardian.
Mhai Tenorio is a personal finance blogger who likes blogging on saving, investing and make money online. For more helpful information on how to save money and open a savings account at SBI Bank, you should visit India Bank blog for quality articles on saving, investment and make money online.