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SAVINGS BANK ACCOUNT

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 Metro, 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 photograph.
NATURE OF DEPOSIT Running (Operative) account

INTEREST RATE

(w.e.f 01.09.2017)

For Outstanding Balance up to Rs. 50 Lakh - 3.50% p.a.  &

For Outstanding Balance of above Rs. 50 Lakh – 4.00% p.a.

PERIODICITY OF INTEREST PAYMENT Interest is payable quartely, every February,May,August and November on the daily balance maintained in the account.
SPECIAL RATE FOR SENIOR CITIZEN Not applicable
SPECIAL RATE FOR BULK DEPOSITS Not applicable
TDS Not applicable
NOMINATION FACILITY Available
LOAN AGAINST DEPOSIT Not permitted
OTHER FACILITIES ATM-cum-Debit Card, Pass book/Pass sheet, Nomination, Standing Instructions, Cheque Collection, Instant Credit of Outstation Cheque upto Rs.15,000/-, Internet & Mobile Banking etc.
SPECIAL FEATURES Special facility of issue of 2 DDs free of charges per month linked to the maintenance of minimum balance in the previous month as under:
Minimum Balance maintained in SB account in the previous month Purchase of 2 DDs free of charge in current month upto the amount of .
Rs. 10000/ Rs. 10000/-
Rs. 15000/- Rs. 15000/-
Rs. 20000/- Rs. 20000/-
Rs. 25000/- and above Rs. 25000/-
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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