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Online Banking Solution India
Banks offer different kinds of savings accounts for different customers. One type of savings account that they offer is called a pension savings account. This account is unique for pensioners to receive credits for their pensions.
This account can be opened by:
The pensioner needs to submit the pension order and the bank will automatically collect the due pension. The pensioner will need to submit the bank account details to the employer so that it can be added to the pension payment order. This PPO once filled will have to be submitted to the bank following which the pension will be collected. However, this account can’t be opened at any time. It has to be opened in the individual’s name after retirement or 6 months before retirement. How to open a pension savings account? The whole procedure to open a pension account has gone online which means it is possible to go on the bank’s website and fill up an account opening form. The online bank account opening with zero balance procedure is streamlined and once you fill up a form, the bank’s customer care executive will contact you to get your documents collected. It is very easy to open zero balance account offline as well. You will need to go to the bank branch and fill up an account opening form and provide the required documentation. Once this application is processed, the bank account will be opened. Documents required for a pension saving account
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October 2020
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