Savings Account

Savings Account

The Savings Accounts are designed to meet the banking needs of people from all walks of life.

Key Benefits

  • An ideal option to cultivate the habit of banking and saving.
  • Simplest way of making small savings into big.
  • Easy to operate and handle.
  • Deposits up to statutory limit are insured by DICGC.
  • Option for money withdrawal by withdrawal forms or by cheque.
  • Facility of nomination.
  • Interest @ 2.70% p.a. applied quarterly in June, September, December & March (w.e.f. 01st Feb 2023).

Terms & Conditions

  • Opening & minimum balance:
    • ₹500/- (with or without cheque book)
    • ₹2,100/- (with ATM facility)
  • Charges as per bank rules for non-maintenance of minimum monthly balance.
  • PAN No./Form 60 is mandatory for cash deposits of ₹50,000/- or above in a single day.

Documents Required

  • Two passport size photographs.
  • Proof of identity and address.
  • Introduction as per bank norms (RBI Guidelines).
  • PAN Card / Form 60.

Basic Saving Bank Deposit Account (BSBDA)

A Basic Saving Bank Deposit Account is a zero balance “no frills” account which can be opened
by any individual who does not have a Savings Account with the Bank.

  • Total credits should not exceed ₹1,00,000/- in a year.
  • Maximum balance should not exceed ₹50,000/- at any time.
  • Total monthly debits (cash withdrawals & transfers) should not exceed ₹10,000/-.
  • Foreign remittances are not allowed without completing full KYC.
  • Small accounts are valid for 12 months and may be extended by another 12 months on submission of valid proof.
  • If a customer already has a savings account, it must be closed within 30 days of opening a BSBDA.
  • Maximum of 4 free cash withdrawals per month including ATM withdrawals (own & other bank ATMs).