SAVINGS BANK ACCOUNT

A Savings Bank Account can be opened by any individual or group of individuals, such as co-operative organisations, institutions, or organisations that have been approved by the bank. Account may be opened as an individual or by two or more persons as a joint account or by a natural guardian i e, father or mother on behalf of their minor child. Initial deposit for opening a savings bank account with a cheque book is Rs. 500/ and without a cheque book is Rs. 100/. This is also the minimum balance requirement for each account.

Pass book 

Pass book will be supplied to every savings bank depositor showing the account number with his account name and address and transaction with date, amount and particulars.

Interest

Interest will be paid @4% per annum

Minimum requirements for opening account

• Introduction by a person known and acceptable to the bank
• 2 copies of latest photograph
• Proof of identity and residence to the satisfaction of bank 

General 

The bank reserves the right to alter, amend ,rescind the rules from the time to time