CANARASARAL SAVINGS ACCOUNT
An SB product designed for the common man to provide a basic banking facility as
part of the financial inclusion objective of RBI.
a. An individual in his/her name.
b. Joint accounts (not more than 4)
c. A guardian on behalf of a minor, by declaring the date of Birth of the minor.
d. A literate minor himself/herself provided he/she has attained the age of 14
years and produces satisfactory proof of date of birth.
e. A school going minor student above the age of 12 years can open the account
with branches/extension counters situated in the campus of educational
institution in which he/she is studying, on submission of a declaration cum
no objection letter from natural guardian. Such accounts are to be preferably
introduced by the Head of the Institution where the student is studying.
f. The Bank may at its discretion, open accounts of illiterate/blind persons, after
observing formalities for opening such accounts.
customer opens Cansaral Savings Account with the branch, he/she will have to
close all other running accounts.
to open a Cansaral Savings account should be made in the Bank's prescribed
Two recent passport size photographs of the account holder(s) is to be submitted
along with the application
INTRODUCTION, IDENTITY AND ADDRESS PROOF
By an account holder who has been subjected to full KYC procedure can introduce the prospective account holder. The introducer’s account with the bank should be atleast 6 months old and
should have satisfactory transactions. Photograph of the customer who
proposes to open the account and also his address needs to be certified by
Any other evidence as to
the identity and address of the customer to the satisfaction of the bank.
An account can be opened with an initial deposit of Rs. 25/-. The account can be maintained even with zero balance.
The account can be maintained even with zero balance
Pass book, ATM-cum-debit card, collection of
instruments, addition or deletion of the names subject to a maximum of four
joint account holders, transfer of account from one branch to another,
through withdrawal order form, cheque and ATM cum Debit Card
Maximum 6 withdrawals per month including drawings through ATM free of charge. For withdrawals exceeding 6 per month would be levied a service charge at the rate not exceeding Rs.5/- per withdrawal at the discretion of the branch.
The minimum amount that may be deposited/ withdrawn “IN CASH” in an account is as
prescribed by the bank from time to time. Currently minimum deposit or
withdrawal “IN CASH” is Rs.10/-. In case of withdrawal through ATM, the
minimum amount is Rs.100/- (Currently)
OTHER TERMS & CONDITIONS
Balance not to exceed
Rs.50000/- and total credit in a year not to exceed 1.00 lac. If the above
limit exceeds, no further transactions will be permitted until the full KYC
procedure is completed.
APPLICATION & DOCUMENTS
Photograph of depositor/s (2 copies)
Proof of address as per KYC Norms