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👉 RBI Notification RBI/2018-19/206
DBR.LEG.BC.No.47/09.07.005/2018-19
https://www.rbi.org.in/commonperson/English/Scripts/Notification.aspx?Id=2979
⭐️ Let’s understand what is BSBDA ⭐️
1️⃣ What is a Basic Savings Bank Deposit Account (BSBDA)?
📌 A BSBDA is a special type of savings account that is designed for people with low incomes. It has no minimum balance requirement and low fees.
2️⃣ What are the benefits of having a BSBDA account?
📌 There are a number of benefits to having a BSBDA account, including:
* No minimum balance requirements
* Access to a variety of banking services for free such as ATM withdrawals, online banking, and mobile banking
* You will get a passbook and Debit Card for Free
* No joining fee
3️⃣ Can I have more than one BSBDA account?
📌 No, you can only have one BSBDA account.
4️⃣What are the KYC norms for BSBDA accounts?
📌 To open a BSBDA account, you will need to provide the following KYC documents:
* An Aadhaar card
* A valid address proof, such as a electricity bill or bank statement
👉 So if you are a student or someone who can’t maintain minimum balance then get it opened from any bank in India.
👉 You can also convert your Regular Savings Account into BSBDA.
👉 Please check the exact features from the respective bank as it might vary from one bank to another and you might have to pay extra for some. | Posted on 25/Sep/2023 17:09:47
