These accounts are designed to help the individuals (personal customers) to inculcate the habit of saving money and to meet their future requirement of money. Amount can be deposited/ withdrawn from these accounts by way of cheques / withdrawal slips. It helps the customers to keep minimum cash at home besides earning interest.
Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, Visually Impaired persons, Purdanasheen Ladies, Minors, Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI.
Simplest deposit option available to the depositor.
An ideal option to cultivate the habit of banking and saving amongst the younger generation.
Easy to operate. Terms and conditions kept lucid to facilitate a layman's understanding.
No hidden costs.
Deposits upto Rs. 5 lakh are insured by DICGC.
Interest will be calculated on a daily product basis and credited quarterly (ONCE EVERY 3 MONTHS) or at the time of closing the Account.
Provision for nomination.
