- The object of the Savings Banks Account is to encourage depositors to save small sums
from time to time.
- Interest will be allowed at the rate as prescribed under RBI rules/directions/guidelines
from time to time and fixed by the Bank. Interest is paid on daily product basis.
- person may open an account in his/her own name, but may not open more than one such
account. The person desiring to open an account shall furnish two passport size
photographs, Address proof, ID proof and Permanent Account Number or General Index
Number as per the guidelines issued by the Income Tax Authority or in lieu of which a
declaration in the prescribed form shall be given.
- Nomination facility will be available under section 45ZA read with section 56 of the
Banking Regulations Act 1949 and rule 2(1)of the co-operative Banks (Nominations) Rules
1985.
- Accounts may be opened by Secretaries, Treasures, Managers or other duly constituted
officers of Corporations whether incorporated or not. The Rules governing such
institutions and all other necessary information should be furnished in writing when
opening the account.
- Accounts may be opened with a minimum sum of Rs.1000/- and the same to be maintained to
keep the account running.
- Cheque Book facility will be provided to the account holder who maintains a minimum
balance of Rs.2000/-.
- No charge will be made for the passbook issued to a depositor on account opening or for
any Pass-Book issued to him in continuation of the original Pass-Book. For issue of
duplicate passbook / pass sheet; bank will charge Rs.50/- per pass book / pass sheet
with latest balance. For previous entries Rs.100/- per page plus GST.
