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SAVING BANK ACCOUNT




Account can be opened by

1 : Professional in their individual name(s) individual singly or jointly

2 : Institutions, clubs,Associations, Charitable trusts, ReligiousInstitutions

3 : Government Bodies ( Relating to funds for development purpose)


Rate of interest : 2.75% per annum for Saving Account.

Other facilities available:

1 : Cheque book facility

2 : Passbook facility

3 : Nomination facility

4 : Minimum Balance : Rs.200


KYC Norms : As per extent instruction of RBI

Minimum balance charge : Rs.100/- per annum, if the minimum balance not maintained and cheque leaves charge Rs.2/ per leaf at the time of issuing cheque book


No-frill (Zero balance Saving Bank Accounts)


Eligibilty to open the account

1 : Any individual name(s) with singly or jointly as per extent KYC norms of RBI

2 : No-frill account is zero balance account and no need initial deposit


Minimum balance

zero balance with limitation of volume of transactions as per RBI norms


Rate of interest

2.7% per annum


Service charges

No service charges


CURRENT ACCOUNTS


Eligibilty to open the account

Businessmen, companies, Industries, Association etc. who have occassion to receive and pay amount in cash/cheque quite often. This type of account are to be opened for cheque facility customer only


Minimum Balance and initial deposits

1 : Initial deposits required : Rs.5000/-

2 : Minimum balance to be maintained Rs.2500/-


Rate of Interest

1 : No interest.


Service charges

1 : For non-maintanance of minimum balance : Rs.50/- per month

2 : Cheque leave charge Rs.3/- per cheque leaf + 18% GST while issuing cheque book.


Recurring Deposit account


This type of deposit is suitable for salaries persons and other persons who have monthly income. Deposit shall be made in equal monthly installment.


Eligibility to open accounts

1 : Individual, signly or jointly with extent KYC norms of RBI

2 : Parent/guarend of their minor with extent KYC norms of RBI


Minimum intial deposit

1 : Rs.50/-per month and in multiple of Rs.10/- thereof.


Period

1 : Minimum 6 months to maximum 120 months.


Minimum intial deposit

1 : Rs.50/-per month and in multiple of Rs.10/- thereof.


All other business rules are applicable as per fixed deposit/term deposits.



TERM DEPOSIT (TDR) OR FIXED DEPOSIT (FD) ACCOUNTS

Eligibility to open accounts

1 : An individual, singly or jointly with one or more person

2 : Parent or guarden on behalf of their minors

3 : Partnership firm, companies, Associations, Clubs, Charitable institutions, trust etc.


Minimum amount of deposits

1 : Rs.1000/- and in multiples of Rs.100/- thereof.


Period

1 : Minimum 15 days and maximum 10 years.


Interest rate

1 : Card interest rates are applicable to term deposits (i.e. simple interest rates of time deposits vary depending on the period of deposits).


Loan facility

1 : 75% of the deposit amount can avail by the customer as demand loan.

2 : This type of deposit can made collateral security for any other type of loans in the bank.


Other facility

1 : Nomination Facility.

2 : Premature closing.

3 : Overdue deposit renewal.


Special Term Deposits(STDR) or Special Fixed Deposit(SFD) Account

Eligibility to open accounts

1 : An individual, singly or jointly with one or more person.

2 : Parent or guarden on behalf of their minors

3 : Partnership firm, companies, Associations, Clubs, Charitable institutions, trust etc.


Minimum amount of deposits

1 : Rs.1000/- and in multiples of Rs.100/- thereof.


Period

1 : Minimum 6 moths and maximum 120 months.


Interest rate

1 : Quarterly compound Card interest rates are applicable to term deposits (i.e. Compound interest rates of time deposits vary depending on the period of deposits).


Loan facility

1 : 75% of the deposit amount can avail as demand loan.

2 : This type of deposit can made collateral security for any other type of loans in the bank.


Other facility

1 : Nomination Facility.

2 : Premature closing.

3 : Overdue deposit renewal.

FOR MORE DETAILS YOU HAVE TO VISIT NEAREST BRANCH

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