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To open an account contact any of our branches

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Savings Bank Accounts  Savings Bank Account Rules   

• Best suited for all classes of persons. 
• Running account.
• Cheques, Drafts, Interest Warrants, Dividend warrants etc.., in Indian rupees and foreign currencies in the personal names of the depositors can be collected and credited to these accounts.
• Liberal withdrawal facilities.
• No Income Tax deduction at source on interest.
• Standing instructions for remittances of insurance premium, rent and similar payments carried out.
• Minors above 10 years can open and operate the account.
• Nomination facility is available
• Internet Banking/ATM/Mobile Banking Facilities are available

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Current Accounts

• Running account with unlimited operational facilities.
• Minimum balance to be maintained is Rs. 3000/- for rural branches and Rs.5000/- for others.
• Monthly statement of accounts made available.
• Standing instructions for remittances of insurance premium, rent and similar payments carried out.
• Internet Banking Facility is available

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Term Deposit Accounts

• Deposits for periods of 7 days to 120 months.          ***
• Minimum deposit is Rs.1000/- and multiples Rs.100/-.
• Interest normally paid quarterly, half yearly, or yearly. Monthly payment can be had at discounted rates.
• Loans are available upto 90% of the deposit, with interest 1% above the deposit rate.  
• Minors above the age of 10 can deposit upto Rs.200000/- in their names independently.  
• Premature withdrawal permitted with applicable penalty.
• Ideal investment for earning regular quarterly income without disturbing principal, and with maximum liquidity and safety.
• The deposit will be renewed on due date for the same period.
• TDS is applicable, 15H/15G to be submitted for exemption.
  
  *** Conditions Apply   

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SBT Reinvestment Plan(Special Term Deposits)

• Term Deposit accounts with automatic reinvestment of the accrued interest at quarterly compounding till maturity of the principal. No interim withdrawal of interest and therefore investment multiplies.
• Loans upto 90%, with interest 1% above the deposit rates. 
• Existing term deposit accounts can freely be converted to Special term deposit accounts and vice versa.
• Minors above the age of 10 can deposit upto Rs.2,00,000/- in their names independently.
• Ideal for maximum returns, long term investment with safety and liquidity.
• Premature withdrawal permitted with applicable penalty.
• TDS is applicable, 15H/15G to be submitted for exemption.

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Unit Deposit Scheme

• Amount deposited is held in units of Rs.1000/- each. 
• Accounts can be opened with Rs.10,000/- and thereafter in multiples of Rs.1000/-. 
• The salient feature of the scheme is that it allows the depositor to withdraw the deposit partially in multiplies of Rs.1000/- without breaking his entire deposit. 
• It can be opened as either Term Deposit or Special Term deposit accounts and interest payments are as applicable to those schemes.
• Loans, Premature withdrawal and Nomination facilities are available.

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Recurring Deposit Accounts

• Recurring deposit for periods ranging from 12 to 120 months with fixed monthly remittances. 
• No Income tax deducted at source. Premature withdrawal is permitted. 
• Minors above 10 years can open accounts in their name independently subject to the maturity value not exceeding Rs.2,00,000/-.
• Ideal for persons who can set apart a portion of their monthly earnings especially regular monthly income earners; Traders, pensioners etc. An easy way to save money.
• Loans, Premature withdrawal and Nomination facilities are available.
• Penalty is applicable for delayed remittance.

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Variable Deposit Scheme (Super Surplus)

• Recurring deposit scheme for a period of 12 months to 120 months, offers flexibility in the amount of monthly remittance.
• Depositor can fix their core monthly installment from Rs.100 to Rs.10000/p.m.
• Depositor can vary the monthly installments and can deposit upto 10 times the agreed core amount subject to maximum of Rs.100000/ per month.
• One remittance per month. No insistence on regular monthly payment.
• Interest credited to the account half yearly.
• Minors over 10 years can open in their name singly provided the maturity value does not exceed Rs.2,00,000/-.
• No penalty for delayed remittance but if the number of remittance is less than 10 per year Rs.10/- will be levied as penalty.
• Ideal for persons whose monthly savings vary from month to month and for those seeking flexibility in remittances.
• Loans, Premature withdrawal and Nomination facilities are available.

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