Bank Statement: All you need to know

Published on: 7 March 2022

Modified on: 22 May 2023

What is a Bank Account Statement?

A bank statement summarises all bank transaction details over a given period for every bank account held by an individual or a business. The bank statement obtained online is a form of PDF containing:

• Your name 
• Account number
• Bank data
• Charges
• Deposits
• Withdrawals 
• Deductions
• Closing bank account balance

The above mentioned details one can find in a bank statement. Now that you have an answer to the question, ‘what is a bank statement?’, here are some additional pointers about the bank statement that you must know.

How to read a bank statement online?

Once your bank statement download is complete, you can easily check the bank account balance on it. Additionally, you can also find a few more bank details mentioned in the bank statement PDF. It is crucial to understand these details, as they directly concern your finances. 

So, what shows up on your bank statement?

• Statement cycle: The date range for which your bank statement is based on.
• Your personal and bank account details: Holds your name, address and account number. 
• Bank information: Bank’s name and logo, phone numbers, details of help centre, etc., so you can reach out to them should the need arise.
• Bank account activity: A detailed breakdown of every transaction of the account. 
• Bank account summary: Your starting balance, the total number of additions and withdrawals and the ending account balance. 
• Transaction dates: The date on which the bank processes a transaction made through the account.
• Credits and debits: Funds that are added and deducted from your bank account. 

Below is a snapshot of how a typical bank statement looks like to make you more familiar with the document:

What are the benefits of a bank statement?

The purpose of a bank statement is to summarise all bank account activities within a certain period.  A few benefits of a bank statement include:

• You can easily review all transactions in your bank account
• Lenders like Fibe need you to submit a bank statement PDF to apply for personal loan or instant cash loan
• Credit card firms and banks need bank statements to validate your loan application
• If you apply for any kind of mortgage, credit or financial help, you have to submit your bank transaction details for income and employment verification

A bank statement also serves as financial documentation for certain services.

How to download a bank statement in PDF?

You can place an online request for a bank statement and download bank statement PDF if you use internet banking. However, there are other ways to get a bank statement download too. You can get a bank statement online through official bank applications or your bank’s official website. All you need to do is register on your bank’s netbanking portal. After that, you can follow the simple steps given below for a bank statement download.

• Visit your bank’s app or official website.
• Log in to your net banking account with your username and password.
• Click on any of these options as applicable: ‘bank account statement’, ‘download e-document’ or ‘view your transaction history’. 
• Select the date range for your bank statement.
• Click on ‘download PDF’. 
• For banks that do not provide a download option, you can select the print option, and then save the document as a PDF. 

In the below image, you can see the net banking portal of a bank’s website, where you have to specify a period for a bank statement PDF download.

(source: bankingidea.org)

How to download a bank account statement from an email?

You can also receive a bank statement online on your registered email ID. This may occur periodically, and you normally get them in a password-protected PDF format. By default, you are not required to sign up separately for the service. Here’s how to download the PDF: 

• Log in to your registered email account.
• Search for the terms ‘bank statement’, ‘account statement’ or ‘transaction summary’. 
• Click on the attached PDF and download it, once you find the respective email.

Download the bank statement PDF and follow the rules for the password, as stated in the body of the mail.

How to get a bank account statement without netbanking?

If you cannot avail netbanking services, you can still get a physical copy of your bank statement from an ATM by following these steps:

• Visit your bank’s nearest ATM with your debit or credit card
• Enter your PIN
• Select the ‘Get mini statement’ or ‘Print mini statement’ option you find on the screen
• Receive a copy of your bank statement instantly

How to keep your bank account statement safe?

In case you receive your bank statements by mail, it’s safe to keep them for about one year. However, if you can access your bank statement digitally, then there’s no need for you to save them. This is because for most banks, you can download and print these statements even after 1-3 years. If you need older bank statements, you can also contact the bank for physical copies.

Bank statement Vs. Transaction history

FAQs on Bank Statement

1. Who can get my bank statement?

Bank account statements are meant to be private, so you are the only person who can get your bank statement by any legal means.

2. What do credit and debit on a bank account statement mean?

Credits are funds your bank account receives, while debits are funds that are deducted from your bank account. 

3. Can a bank account statement be used as an address proof document?

Yes, according to the UIDAI (Unique Identification Authority of India), your latest bank statement is among the documents accepted as a valid proof of address.

4. Can a bank account statement be used as proof of income?

A bank account statement not more than three months old can be considered proof of income, given that the statement comes from the bank where your salary is deposited. 

5. Do bank account statements work when applying for a passport or visa?

Yes, you can submit your bank statements as a proof of address when applying for a passport. As for a visa, you have to submit a bank statement. 

6. Can I get a bank account statement without a balance?

Yes, even if you don’t have a balance in your bank account, you can still download a bank statement PDF through your bank’s digital banking services.

7. Can I get a bank account statement without transactions?

A bank account statement contains more than just the record of transactions you made within a specified period of time. So, you can still request a bank statement even if you have not made any transactions within that time.