A Savings bank account is the most common operating account for individuals and others for non-commercial transactions. A Savings account helps people to put through day-to-day banking transactions besides earning some return on the savings made.

 

Eligibility

The savings Bank accounts can be opened by the person/s who are competent to enter in to a valid agreement, in his / her          name; by two or more persons in their joint names payable to : both or all of them or the survivor or survivors of them; OR either or any more of them or the survivor or the survivors of them; OR - former / latter or survivor of a particular person during his lifetime or survivors jointly or survivor.( Certain non-profit welfare organizations are also permitted to open Savings bank accounts with the Bank as stipulated in the RBI Master Circulars on Maintenance of Deposit Accounts). Minors having uniform signature can also open an account. Like all the accounts, SB accounts are also having the nomination facility

 

Account Opening

​Should submit the dully filled & signed Account opening form along with

Specimen Signature.

Photograph of the A/C holder.

ID proof of operator as per KYC norms (Passport, Driving licence, Permanent Account Number (PAN) Card, Voter's Identity                            Card issued by the Election Commission of India, Job card issued by NREGA duly signed by an officer of the State Government, Letter issued by the Unique Identification Authority of India containing details of name, address and Aadhaar number)

Address proof

Proper introduction

PAN card copy / Form 60

Initial deposit

 

Rate of Interes

3%

 

Closing of the Account

The SB Account opened with the Bank can be closed on the request of the account holder / holders to the concerned branch  manager / officer in-charge. In the occasion of the closure, the applicant /s should mention the reason for closing the account in   the request and all the unused cheques and pass book should be produced.

 

Dormant/Inoperative Accounts

The accounts which have not been operated over a period of two years would be treated as dormant account. If the account   elapses one more year without any transactions which are lying in dormant category, which would be treated as Inoperative   accounts.