Any individuals, Partnership Firm, Limited Companies, Sole Proprietorship can invest minimum Rs.500/- and in multiples of Rs.100/- there on.
The minimum period is one year and maximum is Ten Years.
Interest is reinvested with quarterly rests.
RECURRING DEPOSIT YOJANA
Minimum amount accepted is Rs.100/- and or multiples of Rs.10/-
Minimum period of deposit is Twelve months and maximum Ten years.
Interest payable on monthly products.
The principal amount of deposit together with accumulated interest becomes payable on maturity.
DAILY BHACHAT YOJANA
Bank's Daily Deposit Agent comes to your door steps every day to collect amount of deposit.
The period of deposit is Twelve months.
The minimum deposit of Rs.10/- or in multiples of Rs.5/- per day.
The interest is payable on monthly products.
CURRENT DEPOSIT ACCOUNTS
Professionals, Traders, Businessmen and Individuals are eligible to open Current Account. To facilitate withdrawal and deposit monies in a day without any restrictions, on number of deposits & withdrawals.
Current Account can be opened with initial deposit of Rs.2000.00 p.
The minimum balance required to be maintained at any time is Rs.2000.00 p.
Monies can be withdrawn with cheque book facility only.
Personalized cheque books are issued to the customers.
A customer has to declare that he has not maintained current account with any other bank nor availed any credit facilities from any Bank.
Customers are issued Statement of Account.
SAVINGS DEPOSIT ACCOUNTS
Individuals, Salaried persons and Professionals can open Savings Deposit Account.
The Religious, Educational, Charitable Institutions and Clubs who are not engaged in any business can open Savings Bank Account.
Institutions that are not liable to pay Income-Tax, Co. Operative Societies and Khadi and Village Industries whose activities are in the interest of society without any profit motive are also allowed to open Saving Bank Account.
Interest at the rate of 4% per annum is allowed on daily product basis and credited to the Depositors Account half yearly.
Savings Bank Account can be opened with an initial deposit of Rs.500/- if no cheque book facility is requested for and Rs.1000/- with cheque book facility.
Monies can be withdrawn with cheque book or Withdrawal Slip.
Maximum 52 numbers of withdrawals are allowed within one year free of cost.
Customers are issued Pass-Book.
All deposit accounts are to be opened in the Bank's prescribed forms only.
Every depositor is required to submit two copies of his recent passport.
Every deposit account is required to be introduced by the Bank's existing depositer who is maintaining satisfactory account for a minimum period of six months/staff members/well-known local leader/customers' bankers if any.
Every depositor is required to comply with "Know Your Customer" (KYC) Norms for his proper identification such as PAN Card,/GIR/Form 60 +61, Passport, Voter Identity Card, Driving License, Ration Card, Letter from Public Authority/Government/Corporate/Reputed Entities acceptable to the bank, utility bills etc. In support of residential proof any one such as Telephone bills, Electricity Bill ,Maintenance Bills, Bank account statement is also required to be submitted.
Depositors can authorize others to operate accounts on their behalf with a Mandate/Power of Attorney.
Nomination facility is available only for individual deposit accounts.
For withdrawal of Term Deposits before maturity, interest is payable for the period deposit remained with the bank at the rate prevailed while initially placing of deposits less one percent penalty.
Demand loan/Overdraft facility is available against the security of term deposit/ to the extent of 90% of the deposit plus accrued interest in case of cumulative deposits.
The interest payable on the above is one percent higher than the rate of the interest allowed on deposits.