Saving Account

  • An ideal option to cultivate the habit of banking and saving.
  • Simplest way of making small Savings into big.
  • Easy to operate/handle.
  • Deposits upto statutory limit are insured by DICGC.
  • Option for money withdrawal by withdrawal forms or by cheque.
  • Facility of nomination.
  • Interest @ 3 % p.a. applied twice in a year in September & March.
  • Free 20 cheque leaves in a calendar year.
  • Opening & minimum balance Rs. 1000/- (with cheque book)
  • Rs. 500/- (without cheque book)
  • Charges as per bank’s rule for not maintaining monthly minimum balance.
  • Maximum No. of withdrawals – 50 per calendar half year.
  • While depositing Rs. 50,000/- or above in aggregate in one day, PAN No./Form 60 per transaction is necessary.
  • Documents required:
    • Three passport size photograph.
    • Proof of Identification & Address.
    • An introduction as per Bank’s Norms.
    • PAN Card/ Form 60.
  • This account should be considered in normal banking service available to all.
  • This account shall not have the requirement of any minimum balance.
  • The services available in the account will include deposit and withdrawal of cash at bank branch, receipts /credit of the money through electronic payment channels or by means of deposit / collection of cheques drawn by Central /State government agencies and departments.
  • There will be no limit on the number of deposits that can be made in a month. The account holders will be allowed a maximum of four withdrawals in a month.
  • The above facilities will be provided without any charges.
  • No charge will be levied for non-operation / activation of inoperative “Basic Saving Bank Deposit Account”.
  • This account would be subject to RBI instructions on KYC / AML for opening of bank accounts issued from time to time.
  • Holders of this account will not be eligible for opening of any other savings bank deposit account in that bank.