Bank Statement

A bank statement is a detailed record of every transaction in your bank account over a specific period — usually monthly. It shows deposits, withdrawals, transfers, fees, interest earned, and your opening and closing balance.

Bank statements serve multiple purposes: tracking spending, detecting unauthorized transactions, filing taxes, and providing proof of income. When applying for a loan, visa, or rental agreement, you will almost always be asked to provide 3-6 months of bank statements.

Most banks now offer digital bank statements (e-statements) through mobile apps and internet banking — available instantly and for free. Physical statements may incur a fee. Bank statements are legal documents and are admissible as evidence in court. Always review yours monthly to catch errors or fraud early.