Accounts

Significant Features:

• Any individual can open this Account.
• Maximum 4 Names Are allowed in Joint Account.
• Minimum Balance is Rs. 1500/-
• Institute/ Co-Soc./ Mandli/ Trust can open this Account.
• Account Can be Opened by Minors too.
• Current Rate of Interest is 3.00% Subject to Change as per RBI’s Rule.
• Cheque Book is Chargeable.
• Duplicate Passbook is Chargeable.
• Nomination facility is Available.

 

Requisites For Opening Of Account:

• Duly Filled Account Opening Form.
• Photocopy of Pan Card/ Duly filled Form 60.
• 2 Photograph of Each Signatories

 

           Any of following document:

• Aadhar Card/ Passport/ Driving License/ Election Card.
• Electricity Bill/ Telephone Bill/ House Bill Etc.
• Valid documents issued and permitted by govt.

 

           Introduction:

• Account Holder Are Required To Introduce themselves by any one of the following:
• Existing Account Holder.
• Share Holder Member of the Bank.
• Any Known Gentleman to the Bank.

This Account Can be Opened for Any Business Establishment Like.

 

• Proprietorship Business.
• Partnership Business.
• Limited Business.
• Limited Company.
• Any Other Institute/ Trust/ Co-Soc etc.
• Any Individual – Single or Jointly.
• Minimum Balance is Rs. 2500/-
• Nomination facility is Available.
• Lowest Service Charge in the Banking Sector.

 

Requisites for Opening of Account.

• Dully filled Account Opening form.
• Zerox of Pan Card/ Dully filled Form 60.
• Two Photographs of Each Signatories.

 

Any of the following document.

• Aadhar Card/ Pan Card
• Electricity Bill
• Two Business proofs.

 

Introduction:

Account Holder are required to introduce themselves by any One of the following:

• Existing CA/CC Account Holder.
• Share Holder Member of the Bank.
• VIP smart card holder.
• Any Known Gentleman to the Bank.

Current Rate of Interest:

 

• 12 Months 7.00% ( Senior Citizen will get 0.50% more interest)

 

Significant Features:

• Any Individual Can Open Recurring Deposit Account.
• Maximum three Names are allowed in Joint Account.
• Minimum Amount of Monthly Installment is Rs. 100/-
• Institute/ Co-Soc./ Mandli/ Trust can open this Account.
• Recurring Deposit is accepted for Minors too.
• Current Rate of Interest is Subject to Change.
• Nomination facility is Available.
• Payment exceed by Rs.20000 at the time of maturity will be paid to A/C or Demand Draft only.
• Select Maturity Period & Pay Installment Regularly.
• Get handsome amount with compounded and holiday interest are paid on maturity.
• Irregularity in the deposition of installment attracts penalty.
• Deposit installment on any day of the month.
• No TDS – Irrespective of any amount.

 

Requisites For Opening Of Account:

• Duly Filled Account Opening Form.
• Photocopy of Pan Card/ Duly filled Form 60.
• 1 Photograph of Each Signatories

 

           Any of following document:

• Aadhar Card/ Passport/ Driving License/ Election Card.
• Electricity Bill/ Telephone Bill/ House Bill Etc.
• Valid documents issued and permitted by govt.

     

          Introduction:

• Account Holder Are Required To Introduce themselves by any one of the following:
• Existing Account Holder.
• Staff Member.
• Share Holder Member of the Bank.

• The Interest Rates for deposits have been revised from 11.08.2024, New Interest Rate for deposits as mention below.

Maturity period	Interest rates (per cent per annum)
	General	Senior Citizen
07 days to 14 days	3	3
15 days to 45 days	3	3
46 days to 90 days	3	3
91 days to 180 days	5	5
181 days to 364 days	5	5
365 days to 730 days	7	7.50
731 days to 1095 days	7.50	8.00
1096 days to 1825 days	7.75	8.25
1826 days and above	8.01	8.51
1 Year to 2 Year	7	7.50
2 year 1 day to 3 year	7.50	8.00
3 year 1 day to 5 year	7.75	8.25
5 year 1 day and  above	8.01	8.51
400 Days	8	8
Interest Rate for all other Deposit with effect from 12.05.2023
Saving Deposit/Basic Saving Deposit	3	3
Recurring Deposit	7	7.50
Daily Saving Deposit	2	2

*As per bank’s Policy.

Payment of Balance in Accounts of the Deceased Customers to Survivors/ Claimants:

 

The Bank follows a simplified procedure for settlement of death claims on production of succession certificate in settlement of claims of deceased customers relating to deposit accounts & lockers. The Bank will, however, adopt such safeguards in considering the settlement of claims as appropriate, including accepting an indemnity bond. Nomination facility is available on all deposit accounts opened in the name of natural persons to facilitate speedy settlement of balances in the accounts of deceased customers. Our customers are continuously made aware of the availability of the facility offered in terms of provisions of the Banking Regulation Act.

The simplified procedure is as under:

 

(a) Settlement of Claim Cases on the basis of Nomination:

 

Where the customer(s) has/have made a nomination in the deposit account/Locker, on death of such customer(s), the nominee is required to make a request on prescribed form to the concerned branch along with death certificate(s).

The nominee is required to establish his/her identity. The Bank will make the payment to the nominee unless a restraining letter/order from any person/ court/enforcement agency claiming the amount as heir is received before the settlement of the amount(s), prohibiting the Bank from making such payment(s). The nominee will receive the money/contents of locker as a trustee of the legal heirs of the deceased.

 

(b) Settlement of Claim Cases in Joint Accounts with Survivorship Clause:

 

In a case where two persons having their Joint Account, if the Account Opening Form provides for payment of the balance to the survivor, upon the death of one of the account holders, payment can be made to the survivor unless a restraining order from any court/enforcement agency is received before the settlement of the amount(s), prohibiting the Bank from making such payment(s). The survivor has to provide a Death Certificate of the joint holder. The Survivor can make a request to the concerned branch for transfer of the outstanding balance in his name.

(c) Settlement of Claims in absence of Nomination and/or Survivorship Mandate:

 

In such cases, the claimant is required to submit a claim form. In case the legal heirs of the deceased customer are identifiable and there is no dispute amongst the legal heirs, the Bank can settled claim by obtaining Succession Certificate/Letter of Administration etc. These claims are settled after obtaining Indemnity with or without Surety to the satisfaction of the Bank. In case only one of the legal heirs wants to claim / receive the amount or contents of locker etc. he/she can obtain a Power of Attorney/letter in his/her favour from the other legal heirs for receiving the amount of the Deposit Accounts and / or the contents of the Locker.

(d) Timeline for Settlement:

 

In case all formalities are completed by the claimant(s), the claim will be settled within 15 working days from the date of submission of claim documents, complete in all respects, to the Branch.

 

At the time of payment of the claim, the claimant(s) shall give receipt to the Branch, as per the prescribed format of the Bank.