Key Benefits
⇒ An ideal option to cultivate the habit of banking and Saving.
⇒ Simplest way of making small Savings into big.
⇒ Easy to operate/handle.
⇒ Deposits upto statutory limit are insured by DICGC.
⇒ Option for money withdrawal by cheque, withdrawal forms.
⇒ Facility of nomination.
Terms & Conditions
⇒ Charges as per bank’s rules.
Documents required :
⇒ Three passport size photograph.,
⇒ PAN Card/ Form 60.
⇒ Copy of Aadhaar Card.
BASIC SAVINGS BANK DEPOSIT ACCOUNT
⇒ This account should be considered in normal banking service available to all .
⇒ This account shall not have the requirement of any minimum balance.
⇒ The services available in the account will include deposit and withdrawal of cash at bank branch, receipts /credit of the money through electronic payment channels or by means of deposit / collection of cheques drawn by Central /State government agencies and departments.
⇒ There will be no limit on the number of deposit that can be made in a month.
⇒ The account holders will be allowed a maximum of four withdrawals in a month.
⇒ The balance should not exceed Rs. 50000.
⇒ The account is valid for one year only.
OPERATIONAL GUIDELINES
⇒ The above facilities will be provided without any charges.
⇒ No charge will be levied for non operation / activation of inoperative “Basic Saving Bank Deposit Account”.
⇒ This account would be subject to RBI instructions on KYC / AML for opening of bank accounts issued from time to time.
⇒ Holders of this account will not be eligible for opening of any other savings bank deposit account in that bank.
⇒ Any other existing account has to be closed within 30 days by the customers.
