Rules & Regulations for Savings Bank Account :

• Every Depositor must fulfill KYC norms as per RBI directives.
• The Customer has to give all the valid proof under KYC norms before opening an account as per RBI Guidelines.
• Guardian can open Minor’s Savings Account. Birth Proof of Children is required.
• Every literate minor more than 10 years can open a individual Savings Bank Account. The cheque book will not be issued in this account till the minor turn major.
• The Banks management has full right to close the account if account holder do not keep sufficient balance to clear inward cheque or ECS or do not run the account satisfactorily.
• The customer must have to preserve his/her cheque book & passbook in the custody. The Bank is not responsible for any misuse of cheque book & pass book.
• Interest on Savings deposit is calculated on daily balances as per RBI’s directives.
• The customer having no cheque book facility will be given withdrawal form at the time of payment. The Passbook should be accompanied with the withdrawal form. The withdrawal form will be given to the account holder only and only at the time of payment.
• Stop payment of particular cheque/s facility is available but the customer has to keep sufficient balance to match the cheque amount and then only the cheque will be returned with the reason of stop payment. The stop payment charges will be levied from the account.
• The Bank has all rights of appropriation, set off, lien and change the rules and regulations.

Requirements to open Savings Bank Account :

Valid Photo I.D. & Address Proof

Any one of proof (Photo I.D.)

• Passport
• Driving License
• Voter ID Card
• Government Approved College/university I.Card
• Valid Photo I.D. & Address Proof
• Government/Semi government/Department I.Card
• Aadhar Card

Address Proof(Any One)

• Electricity Bill (not more than 2 months old)
• BSNL Landline Telephone Bill (not more than 2 months old)
• Municipal Tax Bill
• Other proof acceptable by Bank.
• Passport Size Photograph – 2
• Pan Card with forwarding letter
• Birth Certificate for minor account

Saving Bank Deposit (Daily Collection):

Daily collection agent is collecting fixed amount of deposit from the residence/shop of the clients on daily basis.Interest rate is @4%p.a. and Saving Bank Deposit account matures after one year. Account holder gets free deposit amount plus interest. Premature closure of Saving Bank Deposit account is allowed as per bank’s norms.

• No loan can be granted against this deposit.