How to open Student Bank Account:If you are a student and if you have not any student bank account then you can read this article to open a student bank account.this article provide you the details about student bank account.which student bank account is best for student? student bank account opening procedure and student bank account fees and how to open student bank account.
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| How to open Student Bank Account |
This account will motivate students to build a savings mindset, make informed decisions to meet future needs in a well-designed way and fund higher education.
If your age is 5 to 25, but still don't have a bank account? Having a bank account has become something else. Most of the required daily activities are done through the bank. The bank can be a safe accommodation for your money Apart from this, you have to make various money transactions through the bank. So having a bank account does not mean you are lagging behind. Therefore, it is really important to open an account quickly without a bank account.
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| How to open Student Bank Account |
Many people think that opening a bank account can be a daunting task and the second one is not. Many people are unwilling to open a bank account to avoid this hassle. Frankly, opening a bank account is not a problem at all. The fact that we have no knowledge of the matter has led to such an unorthodox idea. In fact, a bank account can be opened very easily. How? Let's find out.
Where to open a bank account
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| How to open Student Bank Account |
First, you need to decide which bank you want to open an account with. You can easily open an account at any bank, public or private. Under Bangladesh Bank, there are 5 such public and private banks. These banks are called Scheduled Banks. Good to say, Grameen Bank, Employment Bank, Co-operative Bank, etc., but not the Schedule Bank at all! That means you can't open an account with these banks.
It is your personal decision to open an account with a bank. In this case it is necessary to take into account the distance of your home or work from the branch of the bank, online facilities, card facilities, expansion of branches in different parts of the country, weekly closing days etc. Moreover, the bank charge, interest and service quality should be taken into account. Again, if you want interest free banking, you can open an account with Islamic Bank. In this case, their rules read like a good, understandable decision should be made. Islamic banks also have interest-related transactions in some cases, taking into consideration these factors.
Types of Bank Account
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| How to open Student Bank Account |
There are generally two types of Bank Account in every bank
2. Personal Account
2. Forms of personal / personal account.
1. Personal Account: As the name implies, this is an account that will be used primarily for personal use. The account titles, that is, the title of the account in the name of a person, are treated as personal accounts. Such forms can be opened in the name of one or more persons.
2. Institutional Account : In such form the bank account title or title of account is in the name of an organization. These accounts will be treated as personal accounts.
There are various types of accounts in the bank. There may be some variations of this rule in bankruptcy, but the general structure is the same in almost all banks.
The bank account can be divided into several sections:
1. Current Account or Current Account: Current account is most useful for business enterprises. Current account can be used to make money transactions as many times as you like. Money can be withdrawn and deposited at any time. In this case no interest is paid. Rather, at the end of the year, some amount is deducted as a service charge.
2. Savings Account or Savings Account: Anyone can open such account. Money can be withdrawn once or twice a week and deposited. Interest is paid at the rate of 5% to 5% annually on deposit money. This account is useful for those who do not need money transactions all the time.
One thing to know here is that if you are a profitable business, you must open a current account to facilitate transactions. Non-profit organizations such as schools and colleges can open current or savings accounts.
This account will motivate students to build a savings mindset, make informed decisions to meet future needs in a well-designed way and fund higher education.
Students Bank Account
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| How to open Student Bank Account |
Benefits of Student Bank Account
• Initial deposit is only Tk.
• There is no charge other than government duty and taxes.
• Free ATM card issuance.
• Withdraw money from 4,000 ATM booths nationwide.
• Benefits of depositing and withdrawing money at any branch of the bank through online.
• The convenience of mobile recharge and fund transfer from internet to anytime anywhere.
• The ability to view account balance and view statement through SMS.
• Opportunity to receive and withdraw remittance remittances from abroad.
• The benefit of depositing all scholarship / scholarship money into this account.
• Transfer of funds through Internet Banking / Mobile Banking from this account to pay tuition fees, exam fees and all types of payments to educational institutions.
Terms of Student Bank Account
• Both students and guardians must be citizens respected Country
• Parent / Parent Legal Guardian will handle the account for students under the age of eighteen.
• Adult (5 years +) students can manage their accounts on their own.
It will take 24hour to open the account . Account opening application form which applicants / applicants have to complete and sign (which the bank will provide).
Documents required for student bank account
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| How to open Student Bank Account |
1. Fill out the TP and KYC forms (which the bank will provide).
2. Recently (2) copies of passport size photographs of the applicants / applicants verified by the identity provider in the case of adults.
3. In case of an underage adult, the guardian will also need two copies of passport size picture.
4. Copy of National Identity Card / Valid Passport / Driver's License / Citizenship Certificate or other photo of identity card in case of adult receiving.
5. Certificate or ID card issued by the educational institution.
A copy of the photocopy of the guardian's Voter ID (NID) / Passport / Citizen Certificate / Driving License photo of the passport size (verified by the guardian in case of student or minor).
Some of Bank in Bangladesh That Provide Student Banking Service
You Can Also Check This Video to Know more about How to open a student bank Account
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How to open Student Bank Account
Reviewed by studynotebd
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February 05, 2020
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Reviewed by studynotebd
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February 05, 2020
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