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  SAVINGS BANK DEPOSIT:  
 

Sr. No.

SAVINGS BANK DEPOSIT

   
Target Group

Individual, Salaried people, HUF, Minors, Trusts, Pensioners, Clubs, Societies, NRIs, PF etc.
(Non individuals for non trading only)

Purpose

A stepping stone for many other Banking Relationship

Minimum Amount

  • With cheque book facility Rs.500/- for Urban and Rs.500/- for Rural & Semi Urban centers.

  • Without cheque book facility Rs.250/- for Rural & Semi Urban and Rs.500/- for Urban centers

Minimum/ Maximum period

No minimum and maximum period

Rate of interest

4.00% per annum above Rs. 1.00 lac (ON DAILY BALANCE) half yearly.

3.50% per annum upto Rs. 1.00 lac (ON DAILY BALANCE) half yearly.

Prepayment Overdraft/Loan facility interest rate

NA

Cheque Book facility

Available

Convenient features

  • Easy to operate.
  • Flexibility in deposit and withdrawal in terms of amount..
  • Flexibility in terms of number of deposits and number of withdrawals.
  • Allows execution of Standing Instructions.

Easy Access features

  • Access to other facilities viz. collection of cheques, remittances, lockers etc.

Other special features
  • Nomination facility available. In case of individual accounts only.
  • Maintenance of computerized A/cs at major branches (Urban).
  • Computerized monthly statement of accounts/ passbook facility available.
  • Easy transfer of Deposit account/ amount from one branch of the bank to any other branch of the bank.
  • Interest paid for the whole month for a minimum deposit period of 21 days.
Interest paid on the minimum balance between 10th and last date of the month.
 
   
 
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