Deposit Schemes

Saving Account

Who can open a Savings Bank Account

1. Any person competent to contract may open an account. Joint accounts allowed with:
   • Any one or more of them
   • Survivors
   • Either or survivor
   • Former or survivor / latter or survivor
2. Minor account can be opened and operated by guardian.
3. Minor joint account with guardian allowed.
4. Accounts for clubs, societies, trusts allowed.
5. Accounts for institutions as per RBI rules.
6. Accounts for government departments and schemes allowed.

How to open a Savings Bank Account

1. Fill account opening form and sign declaration.
2. Illiterate persons must use thumb impression with witness.
3. Joint accounts allowed for illiterate persons (bank discretion).
4. No cheque book for illiterate accounts.
5. Submit passport size photographs.
6. Account must be introduced by existing account holder.

Valid ID Proof

• Passport
• PAN Card
• Driving Licence
• Voter ID
• Defence ID
• Government Employee ID
• Senior Citizen Card

Current Account

Who can open a Current Account

• Individuals, firms, companies, trusts, etc.
• Joint accounts allowed with survivor conditions.

How to open a Current Account

1. Fill prescribed form and sign in person.
2. Accept account rules.
3. Submit photographs.
4. Introduction by existing account holder required.

Term Deposit Account

Opening

Both existing and new customers can open term deposit accounts after KYC compliance.

Period and Amount

• Minimum period: 7 days
• Minimum deposit: Rs. 1000
• Maximum period: 120 months

Special Cases

Deposits up to 20 years allowed in special conditions.

Operational Instructions

Accounts can be opened with joint/survivor instructions.

Recurring Deposit Account

Recurring Deposit allows monthly deposits over fixed periods like 12, 24, 36, 60 months.

• Minimum installment: Rs. 100
• Maximum period: 10 years
• KYC mandatory
• Interest same as term deposit

On maturity, total amount with interest is paid to the customer.