Saving Accounts

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Eligibility to Open an Account

  • A Savings Account can be opened by individuals, minors, or HUFs.
  • A guardian can open a Savings Account for minor children with a valid birth certificate
  • Literate minors above 10 years can open an individual account, but a cheque book will only be issued once they reach adulthood.

Minimum Deposit Requirements

  • Savings Account: ₹500/-
  • Current Account (with cheque book, debit card, and IMPS facility): ₹3,000/-

Key Features

  • Nomination Facility: Available for all account holders.
  • Interest Rate: 4% interest on deposits, calculated daily as per RBI directives.
  • Computerized Passbook: Provided to all account holders.

Rules & Regulations for Savings Accounts

  • All depositors must fulfill KYC norms as per RBI guidelines.
  • Valid KYC documents (Photo ID and Address Proof) must be submitted during account opening.
  • The bank reserves the right to close accounts if sufficient balance is not maintained to clear inward cheques or ECS.
  • Customers are responsible for the safe custody of their cheque book and passbook; the bank will not be liable for misuse.
  • For customers without a cheque book, withdrawal forms are available and must be accompanied by the passbook at the time of payment.
  • Stop payment facility is available, but sufficient balance must be maintained to cover the cheque amount. Stop payment charges will apply.

Required Documents for Account Opening

Photo ID Proof (any one):

  • Passport
  • Aadhaar Card
  • Driving License
  • PAN Card
  • Voter ID Card
  • Government-approved College/University ID Card

Address Proof (any one):

  • Ration Card
  • Aadhaar Card
  • Driving License
  • Electricity Bill (not older than 2 months)
  • Telephone Bill (not older than 2 months)
  • Municipal Tax Bill
  • Bank Statement
  • LIC policy receipt or premium paid proof
  • Salary slip with address
  • Other bank-accepted proofs

Two passport-size photographs.

PAN Card or a declaration using Form 60/61.

For any further clarifications, please contact the bank’s customer service team.