How to Apply for a Bank Passbook: Step-by-Step Guide
5 min read | 2 months ago
A bank passbook is a vital document that many of us still use and refer to for getting a quick glimpse of our account details, transactions, and balance. Applying for a passbook is necessary when you’ve exhausted the old one. Here is a guide to help you navigate the process efficiently.
Application Process for a Bank Passbook
Here’s how you can apply for a bank passbook.
Through the Bank Branch
You can head to your nearest bank branch and contact the customer representative to place your passbook request. A duplicate passbook is necessary in case the passbook has been stolen and you may have to submit an application letter to the branch manager.
Otherwise, it will be issued in case the passbook does not have any more remaining pages. Ask for the passbook request form, fill it up with the necessary details and submit it accordingly. Once the details have been verified, the new passbook will be sent to your address accordingly.
Do You Need a Passbook?
The passbook is the physical document given to customers by the bank whenever they open savings, current, or recurring deposit accounts. It has all the details of banking transactions including credit and debit transactions, along with RD or FD information in some cases. The passbook also contains your bank account number, branch details, and other vital data. It is basically like a logbook of all your transactions.
But in an era of online banking, do you still need the passbook? Here are some reasons that make it relevant even today.
Extensive Transaction Information
The passbook will give you all necessary information about any particular transaction, including the name of the payee/payer along with the bank, payment method, etc.
Easy Reference
Keeping your passbook updated means that you have an easy reference point for all your financial transactions and account balance without having to login to your mobile/net banking portal. Sometimes viewing all expenses and payments on paper helps us manage our finances and budget better. Also, it is helpful in scenarios where you do not have access to internet connectivity. You can use it to track your transactions and stay in the loop about any account balance changes.
Recognized Banking Document
A bank passbook is still a recognized and vital banking document in India. You can use it as verifiable proof of your bank account details in many cases. The passbook also gives you proof of any specific financial transactions and may be helpful for dispute resolution as well.
Security & Tangibility
Many of us still prefer traditional ways of banking and this is where the passbook offers more security and tangibility in comparison to online banking records. The official passbook stamp works as a validation of the information that it contains, thereby building more trust and confidence in your banking relationships.
Conclusion
As you can see, applying for a new passbook is a simple affair and you can do it both offline and online, depending on your convenience. The document also holds relevance even amidst the growing shift to digital banking methods. If you are planning to open a new savings account with a reputed financial institution, consider Unity Small Finance Bank. You can expect a high interest rate between 6-7.5% per annum along with several other benefits like multi-channel access.
About Unity Small Finance Bank
Unity Small Finance Bank is committed to making banking simpler and more accessible for everyone. Our services include Savings Account, NRI account, Current Account, Fixed Deposits, and Personal Loans offering flexible tenures and attractive interest rates. We also offer financing options like MSME Loans and Microfinance to support businesses and underserved communities. Learn more about Unity Small Finance Bank here.
