Purpose:

Offers you to deposit your Small Savings etc , and utilize the same for your day to day requirements.

Eligibility :

  • A person in his individual
  • More than one person in their joint names
  • A minor account under guardianship of Natural Parents /Legally Authorised Person
  • Charitable and educational institutions (if they do not conduct business of commercial nature)
  • HUF
  • Blind Persons
  • Illiterate persons
  • Organizations / agencies / bodies that are specifically permitted to open saving account

Documents required for opening of SB Accounts :

(a) Two latest Photographs

(b) For identifications Proof (any one of the following)

  1. Passport
  2. UID ( Aadhar Card )
  3. Driving Licence
  4. Voter ID Card
  5. Pan Card
  6. / Defence ID card
  7. ID Card issued by Reputed employer

(c) For address Proofs (any one of the following)

  1. Electricity Bill
  2. Telephone Bill
  3. UID ( Aadhar Card )
  4. Bank account statement
  5. Letter from a reputed employer
  6. Letter from any recognized public authority /local body
  7. Income tax / wealth tax Assessment order

Minimum Balance Requirement:

Without Cheque facility Rs.300/-

With Cheque facility Rs.500/-

Withdrawals:

  1. Through Cheques
  2. Through withdrawal slip ( Accompanied by Pass Book )

Interest:

As prescribed by Reserve Bank of India – at present it is 4% p.a.

Nomination Facility:

Nomination Facility is available