• Savings Deposit

Savings Deposit

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 at 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 there 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.,