- A bank account is a financial account maintained by a financial institution for a customer. It can be a savings account, a current account, or any other type of account offered by a financial institution.
- Bank account number used to identify a bank account.
How banks generates bank account numbers ?
- Here we have taken 14 digits account number 75622010002960.
- The first 4 digit tells the branch code, here 7562. Every branch has a code and all accounts opened in a particular branch starts with these 4 digits.
- The next 3 digit tells the product code,here 201 which is “savings account metro/urban”. Rural savings account has a different number lets say 220, current account urban would be 101, rural 307, staff account 202 etc (It varies from bank to bank).
- Rest of the digit shows the customer, here 0002960. The very next account opened after this would be 000297x i.e after 296 comes 297 but the last digit is randomly selected by the system, lets say 0002973.
- This is only for Syndicate Bank. Bank of India has 15 digit account number, SBI had 11, it just depends on the bank policy.
- Generally an account number will show the branch, what kind of account is it and the customer.
How bank employee do the validation of a bank account number while entering his/her account number?
- Once we go to bank branch and try to deposit the amount, mentioning account number, name and amount.
- Now, if name and account number don't tally, bank wouldn't accept deposit and will tell you that name and account number varies.
No. of Digits in Account Number of Different Banks in India :
