The savings Bank accounts can be opened by the person/s who are competent to enter in to a valid agreement, in his / her name; by two or more persons in their joint names payable to : both or all of them or the survivor or survivors of them; OR either or any more of them or the survivor or the survivors of them; OR - former / latter or survivor of a particular person during his lifetime or survivors jointly or survivor.( Certain non-profit welfare organizations are also permitted to open Savings bank accounts with the Bank as stipulated in the RBI Master Circulars on Maintenance of Deposit Accounts). Minors having uniform signature can also open an account. Like all the accounts, SB accounts are also having the nomination facility , ATM & Rupay card
Should submit the dully filled & signed Account opening form along with;
Specimen Signature. Photograph of the A/C holder. ID proof of operator as per KYC norms.( (a) Passport (b) Ration card containing Photograph (c) Driving License (d) PAN card (e) Voters Identity card (f) A ADAR by the Government of India.) Address proof – electricity bill, telephone bill, passport or voter ID. Business proof from local bodies/ partnership deed / trust deed/ Articles of association / Registration Certificate / byelaws / minutes copy / authorisation letter whenever applicable. Proper introduction PAN card copy / Form 60 Initial depositThe balances in the SB account shall be withdrawn either using the cheque leaves from the cheque book issued to the customer or by the withdrawal slips available across the counter.
The rate of interest offered to the SB account ar present 3% and it may vary.
Standing instruction facility such as payment of LIC etc. can be availed in SB accounts
The SB Account opened with the Bank can be closed on the request of the account holder / holders to the concerned branch. In the occasion of the closure, the applicant /s should mention the reason for closing the account in the request and all the unused cheques and pass book should be produced.
The accounts which have not been operated over a period of two years would be treated as Inoperative accounts. a period of 10 years would be treated as Un operative accounts and will be transfer to the special account of RBI.
Depositors along with insurance guarantee from DICGC up to 5 lakh
Current accounts are Cheque operated accounts maintained for mainly business purposes. A Current account is ideal for carrying out day-to-day business transactions.
Should submit the dully filled & signed Account opening form along with;
Specimen Signature. Photograph of the operator. ID proof of operator as per KYC norms.( (a) Passport (b) Ration card containing Photograph (c) Driving License (d) PAN card (e) Voters Identity card (f) AADAR issued by the Government of India.) Address proof – Telephone bill, voter ID, Adhar or driving licence. Business proof from local body/ partnership deed / trust deed/ Articles of association / Registration Certificate / byelaws / minutes copy / authorisation letter Proper introduction Initial depositLimit fixed in the Number of operation and amount: There is no limit for operation in the current account.
Depositors along with insurance guarantee from DICGC up to 5 lakh
Fixed Deposits (FD) are deposits accepted by banks for a specified period of time. In terms of RBI directives the minimum period for which term deposits can be accepted is 15 days. The banks generally do not accept deposits for periods longer than 10 years.
Resident Individuals,Sole Proprietorship Firms,Partnership Firms,Limited Companies,Trust Accounts,Association / Clubs / Societies
Should submit the dully filled & signed Account opening form along with; Specimen Signature.,Photograph of the operator.,ID proof of operator as per KYC norms.( (a) Passport (b) Ration card containing Photograph (c) Driving License (d) PAN card (e) Voters Identity card (f) Unique Identity card issued by the Government of India.) ,Address proof.,Business proof from local body/ partnership deed / trust deed/ Articles of association / Registration Certificate / byelaws / minutes copy / authorisation letter,(Proper introduction,PAN card copy for Initial deposit)
Nomination facility is available on FD A/cs,The Bank allows loan to the depositors up on the security of the FDs at a maximum amount of 90% of the amount deposited. Standing instruction facility such as transferring the interests monthly/quarterly to a particular SB/Current Account and transferring the matured FD to the depositors account would be entertained
The Bank will provide interest for the fixed deposits kept, according to their maturity periods. Present rate of interest slab.
The bank may, at its discretion, consider payment of the deposit before the due date subject to the penal provisions applicable from time to time.
Depositors along with insurance guarantee from DICGC up to 5 lakh
Recurring Deposits (RD) scheme is to enable the depositor to make a financial provision for his future needs, by paying deposits in monthly installment for an agreed period. At the end of the period, the customer can get the lump sum representing the instalment amount paid together with the interest thereon.
Resident Individuals,Sole Proprietorship Firms,Partnership Firms,Limited Companies,Trust Accounts,Association / Clubs / Societies
Should submit the dully filled & signed Account opening form along with; Specimen Signature.,Photograph of the operator.,ID proof of operator as per KYC norms.( (a) Passport (b) Ration card containing Photograph (c) Driving License (d) PAN card (e) Voters Identity card (f) Unique Identity card issued by the Government of India.) ,Address proof.,Business proof from local body/ partnership deed / trust deed/ Articles of association / Registration Certificate / byelaws / minutes copy / authorisation letter,(Proper introduction,PAN card copy for Initial deposit)
Nomination facility is available on RD A/cs
The Bank allows loan to the depositors up on the security of the RD at a maximum amount of 90% of the amount deposited. Due date will be recorded on the RD pass book to enable the depositor. Standing instructions from the depositor for transfer of monthly installment from his savings bank account or current account may be accepted, and such transfers may be effected free of charge.Recurring Deposit accounts may be opened with a minimum monthly instalment of Rs.100/- or, in multiples thereof. The monthly installment may be made on or before the last working day of the month
If the monthly installment are not paid on or before the last working day of the calendar month, the installment should be deemed to have fallen in arrears and penal interest will be charged.
The rate of interest offered to the RD account will be the rate prevalent to the term deposits for the corresponding periods of maturities. may vary from time to time.
Notwithstanding such advance remittances, the Recurring Deposit account will mature and become due one month after the last instalment is remitted or on the expiry of the agreed period, whichever is later.
The bank may, at its discretion, consider payment of the deposit before the due date subject to the penal provisions applicable from time to time.
Depositors along with insurance guarantee from DICGC up to 5 lakh
Under this scheme the deposit collection Agents appointed by the Bank will collect the amount direct from the depositors, regularly.
Payment After 6 months , loan facility available , Maturity payment after one year
Depositors along with insurance guarantee from DICGC up to 5 lakh