NO FRILLS SAVINGS BANK ACCOUNT 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 ELIGIBILITY Individuals, including minors who have completed 10 years of age and pensioners. Joint accounts are permitted. MINIMUM BALANCE Rs.5/- WITHDRAWAL FROM ACCOUNT Only by withdrawal slip. Cheque book will not be issued INTEREST PAYMENT 3.50% p.a. AMOUNT OF TRANSACTIONS 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. NO. OF TRANSACTIONS 25 transactions per half-year PENALTY FOR EXCEEDING THE NUMBER OF TRANSACTION No penalty VALUE ADDITIONS / CONCESSIONS 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. BRANCHES WHERE ACCOUNT CAN BE OPENED All branches of the Bank Click here to Download the Application Form