Savings Account

Savings Account

save_money

A Saving Account is a Deposit Account held at a Bank that Provides Principal Security and a Modest Interest rate.  Savings Accounts are generally for money that you don`t intend to use for daily expenses.  To open a Saving Account simply go down to your nearest Branch with proper identification and address details documents and ask to open an account.

 

Type of Accounts


Saving Accounts may be opened in the name of :
• Individual-Single Account
• Joint-Two of more individuals
• Minors
• Associations, clubs, Societies
• Institutions/Agencies
• Trusts

Initial Deposit

Saving Deposit without Cheque Book- Rs. 500
Saving Deposit with Cheque Book – Rs.1000

Required Documents (Please refer KYC Norms for more details)

• 3 Photographs’
• Identify Proof
• Valid residential address proof

Rate of Interest

Interest rate for all types of saving accounts is fixed to 4% p.a. As per the directivities fixed by Reserve Bank of India, interest is credited to the account every half-yearly viz. in March and September month.