Saving Account

Savings Bank Accounts are meant to promote the habit of saving among the citizens while allowing them to use their funds when required. The main advantage of Savings Bank Account is its high liquidity and safety. On top of that Savings Bank Account earn moderate interest too. The rate of interest is decided and periodically reviewed by the Government of India. Presently, the rate of interest is 3.5% compounded half yearly.

Savings Bank Accounts are meant to promote the habit of saving among the citizens while allowing them to use their funds when required. The main advantage of Savings Bank Account is its high liquidity and safety. On top of that Savings Bank Account earn moderate interest too. The rate of interest is decided and periodically reviewed by the Government of India. Presently, the rate of interest is 3.5% compounded half yearly.

The minimum balance to be maintained in an ordinary savings bank account is Rs. 100. In accounts where cheque books are issued, a minimum balance of Rs. 1000/- has to be maintained.

Saving Account can be opened by

• Individuals
• Minors
• Regd. Co-op. Societies
• Regd. Public Trusts
• Clubs and Associations
• Students(SSB)

Open a Current Account and avail following facilities

• Convenient and quick services
• Open a Savings Bank Account with us and avail Cheque Book facility
• Nomination facility
• ATM facility
• Demand Draft (Local and outstation)
• Remittance
• Any Branch Banking (ABB)
• RTGS

Documents Required for Opening a Current Account

• Passport size photograph which can be photographed by the bank
• ID Proof: Passport/driving license/Ration card/voters identity card/PAN Card
• Proof of residence: Gas Conn. Book/Telephone Bill/Electricity Bill/Bank Pass Book etc
• An introduction of the person from an existing account holder
• PAN number / Declaration in form No.60 or 61 as per the Income Tax Act 1961

Different set of documents are required as per bank's norms if the account is opened by partnership firms, private and public limited companies, HUFs / specified associates, societies, trusts etc.