1
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Minimum Balance
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There is no minimum balance prescribed for the account. Accounts have to be opened with an initial deposit of Rs 10/-
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2
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Who can open the account
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Accounts can be opened by all those who can open regular savings bank accounts. The eligible type of customers include Pensioners, Agricultural & Plantation laborers, Casual laborers, Employees in the unorganized sector, members of Self Help Groups, Self employed persons running small business like petty shops etc, students etc.
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4
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Rate of interest
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As applicable to Normal SB a/c
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5
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Facilities provided
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a) Withdrawals can be effected at base branches only through loose cheque leaves or chequebook issued. (The account holder can be issued one normal cheque book of 10 leaves in a quarter)
b) Withdrawals not to exceed 10 per quarter
c) Collection of outstation cheques
d) Remittance facilities
e) Passbook
f) Nomination facility
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7
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Facilities not provided
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ATM / Debit Card Internet Banking facilityAny Branch Banking facility
Personalized Cheque Book facility
Immediate credit of outstation cheques
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8
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Other terms & conditions
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1. Self-Declaration from the customer to the effect that balance in the account will not exceed Rs.50,000/- and the total credit in all the accounts will not exceed Rs.1.00 lakh in a year.
2. Introduction should be obtained from any of the account holder who has been subjected to full ‘Know Your Customer’ procedure. Introducer’s account with the bank should be at least 6 months old and should show satisfactory transactions. The photograph of the customer who proposes to open the account and also his address needs to be certified by the introducer.
3. In the absence of an introducer as mentioned above, any other evidence as to the identity and address of the customer to the satisfaction of the bank.
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