| 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.
Any one of the following documents like Aadhaar card/Passport/Driving licence/Voter's card/PAN card as to theidentityandaddressof the customertothesatisfactionof the bank. Job card issued by NREGA duly signed by an officer of the State Government and the letters issued by the Unique Identification AuthorityofIndiacontainingdetails of name, address and Aadhaar number are sufficient proof of KYC.
|
| Minimum balance for opening the account |
Zero |
| Non-operation/activation charges ofin- operative accounts |
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.In order to comply with the RBI direction in this regard, the account is being automatically converted to general category.
The individual debit and credit per transaction should be below Rs.50, 000/- for all Basic Saving Bank Deposit Accounts
|
| Minors' Account |
Minors Account represented by F&G /Natural Guardian is permitted |
| Issue of Cheque books |
One 10 leaves cheque book free of cost on request basis. As we are issuing ATM Debit cards in the accounts, cheque book need to be issued only on request basis. |
| ATM-cum-Debit Card |
Yes. Free of cost without AMC |
| Internet Banking / Mobile banking |
If the customer requires internet banking, SMS banking or other valueadded services,thecustomer has to convert the account to other category of account and keep the required minimum balances to avail the facilities. |
| Immediate credit of out station cheques |
No. |
| Collection of outstation cheques |
Permitted. Usual collection charges applicable |
| Conversionto regular SB accounts |
Permitted on obtaining requestand remittance of minimum balance required. |
| Other conditions |
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’.
|