Opening a bank account for a corporation means submitting a detailed application to Corporation Bank, a Government of India enterprise. The form covers several account types: Savings Bank accounts for basic business banking, Current accounts for high-transaction operations, and specialty products like CorpElite, CorpJunior, and CorpPayroll. Businesses select the account type that best fits their needs and provide the required initial deposit amount.
The application asks for the full business name, registered address, and contact information for all account holders. For joint accounts, details for each applicant must be included. The form also requires each authorized signatory to list their designation and employee number. Linking multiple accounts is allowed and simplifies fund management across business divisions.
Corporations must provide specific documents when opening a bank account. Required documents include the Certificate of Incorporation, Memorandum of Association, Articles of Association, and a board resolution authorizing account opening. Authorized signatories must submit identity proof (PAN card, passport, or Aadhaar) and valid address proof. All documents must be self-attested before submission.
The nominee section captures the nominee name, relationship to the account holder, date of birth, and residential address. Corporations may designate a nominee for each account. The declarations section must note any existing credit facilities or accounts at other banks. Occupation codes and account operation instructions (single, jointly, or either-or-survivor) are also required fields.
Optional services available at account opening include CorpNet internet banking with a preferred user ID, the CorpConvenience debit card with a name up to 24 characters, CorpDial telephone banking, a personalized cheque book, and CorpJeevanRaksha insurance savings. Selecting these services on the opening form speeds up activation and reduces follow-up visits to the branch.
After submitting the form with all required documents, Corporation Bank reviews the provided information. Account activation typically takes a few business days. You will receive your account number, cheque book, and debit card by mail. Internet banking access is configured with the credentials you listed on the form.
| Question | Answer |
|---|---|
| Form Name | Corporation Bank Account Opening Form |
| Form Length | 4 pages |
| Fillable? | Yes |
| Fillable fields | 517 |
| Avg. time to fill out | 34 min 49 sec |
| Other names | corporation bank open account, open a corporate bank account, corporation bank zero balance account opening, corporation bank savings account opening |
