Is it legal in India to have multiple savings account in banks

Nil123 · #1 (**permalink**) 07-21-2011, 11:37 AM

Just want to know. In India can we have more than one bank accounts in personal name. Please reply if anyone knows the answer. Thanks.

vikramrandhawa · #2 (**permalink**) 09-12-2011, 06:00 AM

Yes it is possible to have multiple saving accounts in banks...
I have also multiple accounts..Like I have account in Punjab National Bank,I have account in State Bank of Patiala and Overseas Bank..
So it is fine if u have multiple savings accounts in Banks..

Tracy McManamon · #3 (**permalink**) 04-07-2012, 08:26 AM

Quote:

Originally Posted by Nil123

Just want to know. In India can we have more than one bank accounts in personal name. Please reply if anyone knows the answer. Thanks.

You can have as many Savings account as you want. There is no restriction . However, it is mandatory to provide your PAN (Personal Account Number) to the bank when you open a new account.

PAN is an authorized card given by the Income Tax department, Govt of India to monitor cash transactions.

schumannrober · #4 (**permalink**) 05-05-2012, 05:44 AM

My dear friend, it is possible to have multiple savings account in banks in India.

computertips55 · #5 (**permalink**) 05-24-2012, 10:22 AM

interesting topic i think and for india i want to know it properly