Rules of Business (Basic SB Accounts)
- Accounts can be opened with Zero Balance. No penalty for non maintenance.
- Individuals in their own names or in the joint names of family members can open the accounts. Minors account represented by F&G/natural Guardian is permitted.
- Withdrawals allowed by withdrawal slips & cheque leaves (One cheque book of 10 leaves will be issued free of cost)
- ATM cards will be issued free of cost without AMC.
- Not eligible for Internet Banking/Mobile Banking facility. If the customer requires such additional facilities, accounts should be converted into normal SB account with required minimum balance.
- Outstation cheques can be collected in these accounts with the usual OCC charges.
- Third party cheques will not be collected in the account
- Immediate credit of outstation cheques will not be permitted.
- Number of withdrawals including ATM transactions is restricted to 4 per month. Debit transactions beyond this ceiling are chargeable at the rate of Rs.20/- per transaction and if more transactions are required, the account has to be converted to ordinary SB account.
- Interest Eligibility- as applicable to other SB Accounts.
- If no operation is made in the account continuously for two years, the account will be converted into inactive status and further transactions will not be permitted.
- Holders of Basic SB accounts will not be eligible for opening any other savings bank account in the Bank.
- Conversion to ordinary SB account is permissible.