State Bank of India (SBI) is the biggest bank in a group of the Big Four Banks in India together with with Punjab National Bank, ICICI bank and Canara Bank. It is also the largest financial services corporation and government bank in India in terms of profits, assets, revenues and market capitalization. SBI Bank is a general company listed in Bombay Stock Exchange (BSE) and London Stock Exchange (LSE).

It was founded on July 1, 1955 and its main office is situated in Mumbai, Maharashtra, India. Currently, its Chairman is Mr. O.P. Bhatt. According to Forbes, SBI is the 29th most reputable company in the world and as of 2010, it has 200,299 employees around the world and with over 16,000 branches concluding it the largest banking system of connections in India. It has also 131 overseas offices in over 32 nations as of December 31, 2009.

A number of the products presented by SBI bank are investment banking, customer banking, commercial banking, retail banking, private banking, asset administration, pensions, mortgages and credit cards. As of 2010, it has an income amounting to US$19.51 billion, its gain to US$2.08 billion, total assets of US$323.04 billion and total equity of US$18.519 billion.

Having a bank account is the right way to save money. If you are deciding to open for a savings account in India, I advises you consider SBI bank because it is a reputable bank not only in India but in other countries as well.

You can open a bank account if you have the complete requirements which you can have in this article. Usually, the ordinary requirements in opening a bank account in India are the preceding.

Self-attested photocopies of the following auxiliary documents are necessary to be fixed with the application. Originals thereof will have to be produced for authentication.

i. Passport (where the location is the same as the address declared in account launching form)

ii. Income Tax Permanent Account Number (PAN) card. In case PAN card is not issued, Form 60/61 has to be submitted.

You may also produce the following demands for opening a new bank account in SBI bank.

1. For Proof of Identity requirements, you can arrange the suceeding ID

i. PAN card

ii. Voter ID card

iii. Passport (where address differs)

iv. ID card of a reputed employer

v. Driving License

vi. Govt./Defense ID card

vii. Photo ID card issued by Post Office

2. For verifying your Proof of Address, you may bring any one of the following

i. Electricity Bill

ii. Income Tax/Wealth Tax Assessment Order

iii. Credit card bill

iv. Salary sheet (with address)

v. Telephone Bill

vi. Letter from an admirable employer

vii. Bank Account Invoice

viii. Letter from any recognized public authority

ix. Ration card

B. Two current photographs (2.5 cm x 3.5 cm)

C. In case of illiterate customers, Left Thumb Impression (LTI) to be attached and confirmed.

D. For applying of account of children, where proof of identity/address is not ready for use, the same will be provided by the Father/Mother and Natural Guardian.

Mhai Tenorio is a personal investment blogger who loves writing on saving, investing and earn money online. To get helpful details on how to save and apply a bank account at SBI Bank, you must visit India Bank blog for good posts on saving, investing and earn money online.