| SALIENT FEATURES OF BASIC SAVINGS BANK DEPOSIT ACCOUNT |
| Eligibility |
Individuals in their own name or in joint names of family members |
| Branches authorized to open the accounts |
All branches except specialized branches |
| KYC Norms |
All our Basic SB accounts should be fully KYC complied accounts.
Basic SB accounts can be opened with an OVD (Officially Valid Document) along with PAN Card / Form 60.
Following are the list of OVDs used for Account opening:
• Passport (Check validity)
• Aadhaar
• Driving License (Check validity)
• Voter's Identity Card issued by Election Commission of India
• Job card issued by NREGA duly signed by an officer of the State Government.
• Letter issued by the National Population Register containing details of name and address.
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| Minimum balance for opening the account |
Zero |
| Transactions |
While there will be no limit on the number of deposits that can be made in a month, maximum number of withdrawals in a month, including ATM withdrawals is restricted to 4.If exceeded, Rs.20/- plus service tax per transaction will be charged.
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| Minors' Account |
Minors Account represented by F&G /Natural Guardian is permitted |
| Issue of Cheque books |
Cheque Book will be issued only on request basis @ Rs3/- per leaf. |
| ATM-cum-Debit Card |
Yes. Free of cost without AMC for Basic Card variant. |
| Internet Banking / Mobile banking |
Customer can avail Internet Banking / Mobile banking. |
| Immediate credit of out station cheques |
No. |
| Collection of outstation cheques |
Permitted. Usual collection charges applicable |
| Conversion to regular SB accounts |
Permitted on obtaining request and remittance of minimum required balance. |
| Other conditions |
The holders of ‘Basic Savings Bank Deposit Account’ will not be eligible for opening any other savings bank deposit account in the same bank.
If a customer has any other existing savings bank account with our bank, he/she will be required to close the account before opening a ‘Basic Savings Bank Deposit Account’. Further, before opening a BSBD Account, customer to give a declaration stating that he/ she is not having a BSBD Account in any other bank.
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