Saving Account
Saving Account can be opened by Individual and Society ( non business entity ) with multiple services and with minimum balance of Rs.500/- with Aadhar and PAN Card.
The minimum balance should be maintained in an savings bank account which is Rs 500. In accounts where cheque books are issued, a minimum balance of Rs. 1000/- has to be maintained. facility.
Features of the Savings Bank Account:
-
Daily Minimum balance of Rs. 1,000/-
- Debit / ATM card*
- Internet banking facility.
- One personalized cheque book free every year.
- RTGS and NEFT payments to other banks.
- Anywhere banking - Deposit or Withdrawal across any branches.
- Nomination facility.
- Standing instructions
- Free SMS alerts.
Things to Consider While Opening a Savings Account :
- Minimum balance requirements.
- Penal provisions in case the balance falls below the minimum stipulated amount
- Penalty in case of return of cheques issued or instruments sent on collection.
- Collection facilities etc. offered and charges applicable.
- Details of charges, if any for issue of cheque books and limits fixed on number of withdrawals, cash drawings, etc.
Documents Require For Opening a Savings Account
- Two passport size photographs
- Proof of residence i.e. Passport/driving license/Gas / Telephone / Electricity Bill/ Ration card/voters identity card
- An introduction of the person from an existing account holder.
- PAN number / Declaration in form no.60 or 61 as per the Income Tax Act 1961.
