The minimum balance requirement and the charges presently levied by banks on S.B. accounts deter a sizeable section of population from opening /maintaining bank accounts. Our Bank has, therefore, launched a "No-frills" accounts with lower minimum balance in all our branches.
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Description |
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ELIGIBILITY
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Individuals, including minors who have completed 10 years of age and pensioners. Joint accounts are permitted.
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MINIMUM BALANCE
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Rs.5/-
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WITHDRAWAL FROM ACCOUNT
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Only by withdrawal slip. Cheque book will not be issued
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INTEREST PAYMENT
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4.00% p.a.
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AMOUNT OF TRANSACTIONS
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The balance in the account should not exceed Rs.50,000 at any point of time and the total credit in the account should not exceed Rs.1,00,000/- in a year.
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NO. OF TRANSACTIONS
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25 transactions per half-year
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PENALTY FOR EXCEEDING THE NUMBER OF TRANSACTION
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No penalty
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VALUE ADDITIONS / CONCESSIONS
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No other value addition / concession allowed in the account. Collection of instruments and issue of DD/MT will attract normal charges. Debit Cards are not issued.
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BRANCHES WHERE ACCOUNT CAN BE OPENED
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All branches of the Bank
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