- 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.
TERMS & CONDITIONS
- 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.
BASIC SAVINGS BANK DEPOSIT ACCOUNT
- 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.