Savings Bank Account

Savings Bank accounts are suitable for promoting the habit of savings among the customers. It offers liquidity for the money and also earns interest. The credit balance outstanding in this account will earn interest as per the current directives of the bank. When needed, the amount can be withdrawn, subject to certain conditions.

The product is available at all branches of the bank.

  • SAVINGS BANK ACCOUNTS MAY BE OPENED IN THE NAMES OF :
    • Individual - Single Accounts
    • Two or more individuals - Joint Accounts
    • Minors
    • Trusts only if income tax exemption certificate is submitted
    • Other Institutions/Agencies- as per RBI guidelines
  • DULY FILLED IN ACCOUNT OPENING FORM WITH :
    • Valid residential proof
    • Valid Identification Proof like Aadhaar, Driving Licence, Passport, Election Card
    • Electricity Bill
    • Telephone Bill
    • PAN Number or Form 60
    • 2 photographs
  • The initial deposit on opening of an account should always be paid in cash.
  • Minimum amount to be deposited as initial deposit is as follows :
S.No Type Rural Branches – Outside branches in Mumbai, Navi Mumbai & Thane Region Account Opened at branches in Mumbai, Navi Mumbai & Thane Region
1 Savings Bank- Without Cheque Book Rs.300/- Rs.500/-
2 With Cheque Book Facility Rs.1000/- Rs.1000/-
  • ROI : Please Click Here
  • No TDS on interest earned in the SB account.
  • There is no ceiling on the maximum balance in Savings Bank accounts. The accounts can be operated by Withdrawal slips or by Cheques.
  • Standing instructions are accepted and no charges will be levied for standing instructions within the Branch such as payment of monthly instalment of Recurring Deposit, payment of EMI of loan account, etc.
  • Local as well as outstation cheques, dividend warrants, interest warrants payable to the account-holder are collected.

OTHER FACILITIES

  • Nomination facilities are available.
  • ATM card facility is provided, if the depositor maintains prescribed minimum balance.
  • Any Branch Banking Facility throughout all Branches of the Bank for operations in Savings Bank Accounts.
  • Service Charges : Please Click Here