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An account statement is more than just a list of numbers—it's your financial report card. Whether you're reviewing salary credits, tracking expenses, or preparing documents for a loan, your bank statement gives you a clear picture of how your money flows.
Let’s break down everything you need to know about account statements, from formats and access methods to password protection and legal nuances.
What is an Account Statement?
An account statement (also known as a bank statement, e-statement, or bank account summary) is a formal document issued by banks like SBI, HDFC, ICICI, Federal Bank and Axis Bank. It lists all transactions—deposits, withdrawals, charges, interest, and your running balance—within a chosen time frame.
This means that it serves as both a tracking tool for personal finance and an official record for tax filings or loan applications.
Simple explanation of ‘Bank Account Statement’ in some of the Indian Languages
How to explain the concept of ‘Account Statement’ to kids?
Imagine your bank statement is like your monthly money diary. It tells you what came in (like pocket money from father, mother, grandmother, etc.) and what went out (like payment for chocolates, toys, chips, etc.). You can get it online, as a paper from the bank, or even download it in Excel or PDF file.
Types of Account Statements
- Savings Account Statement – Most common for individuals
- Current Account Statement – Used by businesses
- Credit Card Statement – Includes billing cycle, interest, and due date
Duration of Statements
Banks usually provide:
- Monthly Statements
- Quarterly Statements
- Custom Periods on Request
What Does a Bank Account Statement Contain?
Typically, a bank statement includes the following elements:
- Account holder details
- Account number and IFSC
- Date-wise list of transactions
- Debit and credit amounts
- Opening and closing balances
Common Terms Found in Account Statements
- NEFT/IMPS/UPI – Transaction modes
- DR/CR – Debit/Credit
- POS – Point of Sale
- ATM WDL – ATM Withdrawal
How to Access or Download Your Account Statement
You can access your bank account statement using:
- Netbanking portals (e.g., ICICI iMobile, HDFC NetBanking)
- Mobile banking apps (like SBI YONO, Axis Mobile)
- Email statements sent monthly
- Physical copies from branch
Digital vs Physical Statements
- E-Statements are secure, environment-friendly, and instant
- Physical Statements are still preferred for official submissions in some cases
RBI Guidelines on Account Statements
According to RBI norms, banks are required to:
- Maintain records for at least 10 years
- Provide statements on request (charges may apply)
- Offer statements in a secure format (e.g., password-protected PDFs)
- Most banks offer downloadable formats including PDF and Excel.
Typical Excel-Style Bank Statement Format
Can You Get a Statement from a Closed Bank Account?
Yes, but there’s a catch. If you're wondering “Can I get a statement of a closed bank account?”, the answer is yes, but only within a specific time frame (often up to 12 months post-closure).
To do this:
- Visit your branch with ID proof
- Submit a written request
- Some banks may charge a retrieval fee
How to Open an Account Statement Password
Downloaded statements, especially PDF files, are often password-protected for security reasons.
Here’s how most banks format their passwords:
- DOB format: DDMMYYYY
- Combination: First 4 letters of your name + DOB
- Check email instructions accompanying the statement
Account Freeze vs Account Closure vs Statement Access
- Account Freeze: Temporarily locked due to suspicious activity or non-compliance. Statement access may be limited.
- Account Closure: Final shut down. Statements can be accessed retrospectively (as per RBI guidelines).
Normal Statement Access: Active accounts have full access via net banking or apps.
FAQs About Bank Account Statements
What is a bank account statement?
A bank account statement is a summary of your account transactions like credits, debits, and balances which are issued periodically.
Q2. How can I download my bank account statement?
Use net banking or mobile apps to download it in PDF or Excel formats.
Q3. Can I get a bank statement of a closed account?
Yes, within a limited period and usually by request at the bank branch.
Q4. What is an account statement password?
A code used to open your downloaded statement. It could be your birthdate or name combination.
Q5. Is there a standard Excel format for bank statements?
Yes, most statements list date, description, debit, credit, and balance in columnar Excel format.
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