| SAVINGS BANK ACCOUNT | |
| Eligibility | Individuals, Joint accounts, Minor accounts, Blind, Illiterates, HUF, Trusts, Executors and Administrators, Govt. bodies, Semi-Government Departments, Recognized PF Accounts, Capital Gain Accounts, Non-Corporate bodies viz.,, Clubs, Societies, Associations, Schools etc., |
| Minimum Balance | • Average Monthly Balance of Rs. 1000/- for Urban & Semi-urban branches and • Rs. 500/- for Rural branches. |
| Requirements for Opening Account | Application in the Banks’ prescribed form, Proof of identity, Address proof, Passport size photographs. |
| Nature of Deposit | Running (Operative) account |
| Interest Rate | As decided by Bank from time to time. |
| Periodicity of Interest Payment | Interest is payable half yearly , every March , September month ends on the daily balance maintained in the account. |
| TDS | Not applicable |
| Nomination Facility | Available |
| Loan against Deposit | Not permitted |
| Other Facilities | ATM-cum-Debit Card, Pass book/Account statement, Nomination, Standing Instructions, Cheque Collection, Mobile Banking etc. |
| Application and Documents | Application in the Banks’ prescribed form Specimen Signature Card Copy of PAN Card / Form 60 or 61 (if customer does not have PAN Card) Photograph of depositor/s (2 copies) Proof of Identity & address as per KYC Norms Any other related documents applicable to Students, Minor, HUF, Trusts,Association etc. Proof of identity and address as per KYC Norms- Only the following documents will be acceptable (for individuals): (1) Passport (2) Driving License (3) PAN Card (4) Voter Identity Card issued by the Election Commission of India (5) Job card issued by NREGA duly signed by an officer of State Government. (6) Letter issued by the Unique Identification Authority of India (UIDAI) containing details of name, address and Aadhaar number.
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| Withdrawal/Deposit | • Permitted through withdrawal order form, cheque and ATM cum Debit Card • Maximum 4 withdrawals per month. • 5 free of charge transactions(Financial &Non-Financial)through ATM per month |
- Rules are subject to changes from time to time
Basic Savings Bank Deposit Account
Product Nature | A SB product designed for the common man to provide Basic Banking facility as part of the financial inclusion objective of RBI. |
Eligibility | a. An individual in his/her name. b. More than one individual jointly, operated by and/or payable to one or more of them c. A guardian on behalf of a minor, by declaring the date of Birth of the minor. d. A customer opening a Basic Savings Bank Deposit Account shall not have any other operative accounts with the Branch/Bank. |
Application | · Application to open a Basic Savings Bank Deposit account should be made in the Banks prescribed form. · Two recent passport size photographs of the applicant(s) is to be submitted along with the application. |
Identity and Address Proof | Valid Proof of Identity and Address of the customer as per KYC norms. |
Basic Facilities | (i) The deposit of cash at bank branch as well as ATMs/CDMs (ii) Receipt / Credit of money through any electronic channel or by means of deposit / collection of cheques drawn by Central/State Government agencies and departments (iii) No limit on number and value of deposits that can be made in a month |
Other Facilities | Pass book , Account Statement, NEFT & RTGS ,BBPS,PMSBY PMJJBY Internet and Mobile Banking, transfer of account from one branch to another, Standing Instruction, SMS alert etc. |
Withdrawal/Deposit | • Permitted through withdrawal order form, cheque and ATM cum Debit Card • Maximum 4 withdrawals per month. • 5 free of charge transactions(Financial &Non-Financial)through ATM per month |
Nomination Facility | Available |