Corporation Bank has introduced a “Basic Savings Deposit” SB a/c with zero balance facility. The account, ‘Corp Pragathi SB a/c’ can be opened with an initial deposit of Rs 10/- and will provide the account holder the basic banking facilities. No penalty will be levied even if the balance in the account drops below Rs. 10/-.
Any individual, including minors above the age of 10 years, who are eligible to open a normal Savings Bank account, can open the account. The account will be available in all branches of the Bank. Account holders will be provided chequebook facility, collection, remittance facilities etc.
“Basic Savings Deposit” Account
- There is no minimum balance prescribed for the account.
Who can open the account
- 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. except institutions.
Rate of interest
- 3.5% per annum (As applicable to Normal SB a/c)
Interest Payment Frequency :
- Rupay- Debit Card
- No limit for credits/withdrawals
- The account holder can be issued one normal cheque book of 10 leaves in a quarter.
- Collection of outstation cheques
- Remittance facilities
- Nomination facility
- Free – ABB transactions
- No Charges for closing of the account.
- Mobile Banking
- E –passbook
- E- mandate
- Missed Call Facility
- As applicable to normal Savings Bank Accounts.