Who can open :
  • a) All those who can open regular savings bank accounts [however, institutions, organizations and non-resident Indians are not eligible]
Minimum Balance
  • Zero balance account
Terms & Conditions of operations
  • The aggregate of all credits in a financial year should not exceed Rs. 1,00,000/- [Rupees one lakh]
  • The aggregate of all withdrawals and transfers in a month should not exceed Rs. 10,000/- [Rupees ten thousand]
  • The balance at any point of time should not exceed `50,000/- [Rupees fifty thousand]
Rate of Interest
  • As applicable to Normal SB account
Facilities provided
  • Withdrawals at Base branch only through loose cheque leaves or cheque-book [one normal cheque-book of 10 leaves in a quarter or 4 such cheque-books per annum]
  • NEFT / ABB facility
  • Collection of outstation cheques
  • Inland remittance facility
  • Passbook
  • Nomination facility
Service Charges
  • As applicable to Normal SB Account [however, there will be no charges for closure of account]
Documents required & upgradation of the account
  • Self-attested photograph and affixing signature/ thumb impression on the account opening form in the presence of the branch authorities only [under simplified KYC].
  • Further, the account holder has to submit full KYC documents within 24 months of opening the Corp 'Arambh' account, to upgrade the account to a 'Corp Pragathi' or normal SB account. Otherwise, the account will be frozen till such documents are submitted.