Savings Account

Savings Account is primarily meant to inculcate a sense of saving for your future financial requirements.

Current Account

Current Account is a Non-Interest bearing bank account Mainly used to service the needs of the Business

Term Deposit

Term Deposit scheme to suit your requirement and future plan.

Savings Account

Savings Account is primarily meant to inculcate a sense of saving for your future financial requirements. The main purpose of the account is to save in small or large amount from time to time. Your savings remain liquid and safe, earning a steady interest. Our Savings Account comes with a host of convenient features and banking channels to transact through.

Eligible to operate a Savings Account

  • Individual – Single / Joint account
  • Minor – Operated by guardian natural / appointed by court
  • Illiterate/Blind person – Operated by Thumb Impression and Identified by Witness
  • Trust – Private / Public / Hindu Undivided Family
  • Club, Association & Society
  • Housing Co-operative Society
  • Charitable Religious Institution

Interest on all types of savings accounts @3.50% p.a. on daily balance w.e.f.10/07/2023.

Salient features of the scheme 

  • Minimum opening balance 1000/- (with cheque book)
  • cheque book facility.
  • Issuance of Debit Card.
  • Account statement facility.
  • Fund transfer facility through IMPS/RTGS/NEFT.
  • ATM/POS/ECOM.
  • SMS services
  • Mobile Banking Services
  • UPI
  • Any branch banking facility

Cheque book facility

  • First Cheque Book will be issued to Customer at Free of Cost at the time of Opening Account,The Subsequent Cheque Book will be issued at a cost.
  • Withdrawal Slip will be issued across the Counter for Cash Withdrawal at Specific Limit.

Conversion Of Minor Account to Savings Account
The Guardian will give Declaration in Writing of Minor attaining Majority and the Minor on attaining majority should Comply with KYC norms for further operation in the account.

Inoperative Accounts

A Savings account shall be treated as inoperative if there are no “Customers Induced Transactions” in the account for a period of once two years.

Activation Of In Operative Accounts.
Customer Should give a request letter duly mentioning the reason for not operating the account for last 2 years and submit latest KYC documents along with latest photograph for conversion of In operative account to operative status.

Interest payment / levy of charges

  • Interest on Savings Bank Account should be paid a quarterly basis June, September, December and March of every year at the prescribed rate calculated on daily closing balance.interest will be credited on the last working day of month.
  • Interest Payable on deposits shall be rounded off to the nearest rupee in fraction of 50 paise and above shall be rounded off to the next higher rupee and fraction of less than 50 paise shall be ignored.

Nomination facility

Nomination facility is available for all deposit accounts.

Customer’s obligations

  • Pass book and cheque book issued on the account should be held in the personal / safe custody of the account holders to avoid any misuse by any unscrupulous persons.
  • Customer should inform the bank in writing about change of their address, telephone number, Email Id, Change of Nominee, Change of Signature, Change in Operating Instructions etc.
  • If a cheque is deposited for collection, the account holder shall ensure that the realization proceeds is credited to his account within a reasonable time; else the matter will be referred to the Bank either at the base branch or where deposited.
  • Customer/s should inform the Bank, change of their constitution, operation instructions etc.,

Current Account

Current Account is a Non-Interest bearing bank account Mainly used to service the needs of the Business, current accounts is ideal for all business transactions.

Eligible to operate a Current Account

  • Individual – Single / Joint account
  • Hindu undivided family
  • Sole Proprietorship firm
  • Partnership firm
  • Limited company – Private / Public
  • Trust / Club / Registered / Unregistered Society / Association
  • Government / Semi – Government Bodies / Department

Salient features of the scheme 

A regular current account for business / corporate customer Minimum opening balance Rs.3000/-

  • Cheque book at nominal price
  • DEBIT Card facility
  • Account statement facility (duplicate statement charges applicable)
  • Mobile Banking facility.
  • Fund transfer facility through IMPS/RTGS/NEFT anywhere in India
  • ATM/POS
  • Any branch banking facility.

Basic Documents

  • Duly completed account opening form
  • Aadhaar/Aadhaar Enrolment Number
    • Pan card
    • Proof of residence of the applicant(s)
    • Proof of Photo Identification of the applicant(s)
    • Two recent passport size colour photographs of Partner(s) / Director(s)
    • Introduction by an existing customer, whose account is at least 6 months old OR In case institution, submit following constitutional documents
    • Company : Memorandum & Articles of Association, ResolutionPartnership Firm : Partnership Deed, Registration receiptTrust : Trust Deed, Resolution
    • HUF :HUF Deed, Co-partner letter.

Know Your Customer (KYC) norms
The prospective account holder should comply with the ‘Know Your Customer (KYC)’ norms by producing one or more of the following documents in support of identity and address:

(All following documents to be obtained)

  • Certificate of Incorporation
  • Memorandum & Articles of Association.
  • PAN No of the Firm.
  • Resolution of the Board of Directors and power of Attorney granted to its managers,officers ot employees to transact on its behalf: and
  • Aadhaar number/ Aadhaar Enrolment Number and PAN */ FORM60 of the managers, officers or employess holding an attorney to transact on its behalf with his/her photograph.

(Any two of the following documents to be obtained)

  • Proof of the name, address and activity of the concern, like registration certificate (in case of registered concern),
  • Certificate of / license issued by the muncipal authorities under Shop & Establishment Act,
  • GST and income tax returns,
  • Certificate/ registration document issued by GST/Professional Tax authorities.
  • License issued by the Registering authority like certificate of Practice issued by Indian Institute of Chartered Accountants of India, Institute of Cost Accountants of India, Institute of Company Secretaries of India, Indian Medical Council, Food and Drug Control Authorities, etc. Registration/ licensing document issued in the name of proprietary concern by the Central Government or State Government Authority / Department, IEC(Importer Exporter Code) issued to the proprietary concern by the office of DGFT as an Identity document.
  • The complete Income Tax return (not just the acknowledgement) in the name of Sole Proprietor where the Firm’s income is reflected, duly Aythenticated/ Acknowledged by the Income Tax Authorities.
  • Utility bills such as electricity, water and landline telephone bills (Not more than two months old) in the name of the proprietary concern. OR
  • In case where the branches are satisfied that it is not possible to furnish two such documents, they would have the discretion to accept only one of those documents as activity prrof. In such cases, the branches would have to indertake contact point verification, collect information to establish the  existence of such firm, confirm, clarify and satisfy that the business activity has been verified from the address of the proprietary concern AND
  • Aadhaar Number/ Aadhaar Enrolment Number and PAN/ FORM60 of the proprietor.

(All following documents to be obtained)

  • Registration certificate,
  • Partnership deed: and
  • PAN of the Firm,
  • Aadhaar Number/ Aadhaar Enrolment Number and PAN/ FORM60 of the personholding an Attorney to transact on its behalf with his/her photograph.

(All following documnets to be obtained)

  • Registration Certificate,
  • Trust Deed:
  • PAN of Entity
  • Aadhaar Number/ Adhaar Enrollment Number and PAN/ FORM 60 of the Trustees, settlers,beneficiaries and persons holding Power of Attorney, Founders/Managers Directors/Signatories with his/her photograph.

For unregistered entities (whether partnership firm, trusts,foundations etc)

(All following documents to be obtained)

  • Resolution of the Managing body of such association or body of indivisuals.
  • PAN
  • Power of Attorney granted to transact on its behalf.
  • Aadhaar Number/ Aadhaar Enrolment Number and PAn/ FORM60 of the office bearers / Signatories and persons holding power of Attorney, if any with his/her photograph in respect of the person holding and Attorney to transact on its behalf.
  • Any one of the below mentioned list of documents to collectively establish the legal existence of such an associations or body of individuals.
  • Partnership Deed/Trust Deed
  • Certificate of license issued by the muncipal authorities under shop & Establishment Act.
  • GST Returns.
  • Certificate/registration document issued by GST/ Professional Tax authorities.
  • License issued by the Registering authority like certificate of Practice issued by Indian Institute of Chartered Accountants of India, Institute of Cost Accountants of India, Institute of Company Secretaries of India, Indian Medical Council, Food and Drug Control Authorities etc.
  • The Complete Income Tax return (not just the acknowledgement) in the name of Sole Proprietor where the Firm’s income is reflected duly Authenticated/ Acknowledged by the Income Tax Authorities.

Introduction

The prospective account holder should be introduced by a third party, acceptable to the Bank.

Cheque book facility

All current account holders are provided with cheque books, collecting the cost of such cheque books

Inoperative Accounts

If the account is not operated by the account holder, the account will be transferred to ‘Inoperative Account’ on completion of 24 months from the date of last operation

Review of inoperative accounts

Inoperative account shall be reviewed by the Bank at its discretion to bring back to the ‘Operative Status’, if the account holder requests in writing duly complying with KYC norms like furnishing of latest passport size photograph, address proof in support of address given, latest specimen signature with operation instructions etc

Dormant Accounts

If an account in ‘Inoperative’ status is not operated in the parent branch by the account holder, the said account will be treated as ‘Dormant Account’ on completion of 36 months from the date of previous operation by the customer in inoperative status or on account of becoming ‘Inoperative’ whichever happens later. Such ‘Dormant Accounts’ are not eligible for operations therein by the customer nor for review for bringing the account back to ‘Operative’ status. However, the entire balance in the ‘Dormant Account’ can be claimed by the account holder in the base branch personally by submitting a written application, establishing his / her identity and surrendering the unused cheque leaves, if any

Interest and charges

  • No interest will be paid on Current Account.
  • Bank reserves the right to levy service charges on current account from time to time on various counts, which is presently as under:* Minimum of Rs.100/- and thereafter Rs.10/- per page for every half yearly.

Term Deposit

Term Deposit scheme to suit your requirement and future plan. You can not only earn higher income on your surplus funds by investing in any of our term deposit schemes, but also avail loan against those funds. Thus fulfill your need, multiply your funds as well as keep your savings secure.

Rate of Interest Effected from 09/10/2023
TENURE GENERAL Sr.CITIZEN
31 days to 90 days 5.00% 5.50%
91 days to 180 days 5.50% 6.00%
181 days to 365 days 6.25% 6.75%
Above 1 year to 2 years 8.00% 8.50%
Above 2 years to 3 years 7.25% 7.75%

Terms & Conditions Apply

  • FDM should be minimum period of 13 months.
  • RD / FDQ / JSCC should be minimum period of 15 months.
  • Interest rates are subject to change at the sole discretion of the Bank.
  • 1% penalty for premature withdrawal for all categories of Deposits.
  • No Interest upto 30 days – for all types of Term Deposits.

Eligible to operate a Term Deposit Account

  • Individual – Single / Joint account
  • Minor – Operated by guardian natural / appointed by court
  • Trust – Private / Public
  • Partnership firm
  • Limited company – Private / Public
  • Club, Association & Society

To open Term Deposit Account, you just need to provide

  • Duly completed account opening form
  • Pan card /FORM 60- if, no Pan card
  • Proof of Residence of the applicant(s)
  • Proof of Photo Identification of the applicant(s)
  • Proof of Age in case of senior citizen One recent passport size color photographs of Partner(s) / Director(s)
  • Submit Partnership deed with Registration receipt in case of Partnership firm
  • Submit Memorandum of Association, Article of Association, Resolution in case of Company
  • Board Resolution / Resolution in case of a company, an association

Invest and earn interest monthly or quarterly or half yearly or yearly.

Salient features of the scheme :

  • Minimum opening balance of 1000/-
  • Minimum period of 31 days, maximum up to 60 months.
  • Interest paid along with the principal on maturity
  • Can avail loan.

Interest as per card rates.

Regular savings leads to high investment.

Salient features of the scheme

  • Minimum opening balance of 100/- or in multiple of 100/- per month
  • Minimum period of 15 months, maximum up to 3 years
  • Interest paid along with the principal on maturity
  • Can avail loan up to 90% of accumulated deposit.

Interest as per card rates

Renewal policy of the term deposit:

Bank has adopted Auto renewal facility to the entire Deposit of account holder.

Penalties

For Premature closure of Deposit allowed at 1%below the rate applicable for the period the deposit remained with the bank

No interest shall be paid on prematurity of term deposit, Where deposit periods is less than 31days.

TDS:

  • Where interest amount exceed Rs.40000/- in a year TDS will be deducted for General.
  • Where interest amount exceed Rs.50000/- in a year TDS will be deducted for Senior