Accounts & Deposits

CURENT ACCOUNT :

• Customer can open Current Account with minimum balance or Rs.5000/-.
• We offer 100 pages cheque book to our Current Account holder.
• We offer nomination facility for all individual accounts and proprietory concern accounts.
• Customer can open joint account and that account can be operated as per instruction like Any one, Jointly, Any two Jointly either or survivor etc.
• We offer Monthly, Half yearly, Yearly and periodical Statement to our Customers for their reconciliation purpose or any other purpose.
• We are member of Deposit Insurance and Credit Guarantee Scheme [DICGC] in which customers deposits are insured up to Rs. 1 Lac.

Rules & Regulation for Current Account:

• Every Depositor must have to fulfill KYC norms as per RBI directive.
• The Customer has to give all the valid proof at the time of opening an account under KYC norms as per RBI and CERSAI Guidelines.
• The Bank’s management is having right to close the account after notice if account holder do not keep sufficient balance to clear inward cheque or ECS.
• The customer must have to preserve his/her cheque book in his custody. The Bank is not responsible for any misuse of cheque book.
• Cheque book charges will be debited from the account at the time of issue of cheque book. Other Charges which will be applicable will also be deducted from the account.
• Stop payment of particular cheque/s facility is available the customer has to keep sufficient balance to match the cheque amount then only the cheque will be returned with the reason of stop payment and stop payment charges may be levied from the account.
• The Bank is having all rights of appropriation, set off, lien and change the rules and regulation.
• No interest will be paid in Current Account.

Requirements For Current Bank Account

• Valid Photo I.D. & Address Proof of proprietor / partners /directors.
• Any one of proof for all partners/ directors or proprietor (Photo Id)

1.Pancard

2.Passport,

3.Driving License,

4.Voter ID Card,

5.Aadhar Card,

6. Government/Semi government/Department I.Card

7.Government Approved College/university I.Card

• Address Proof(Any One)

1. Electricity Bill (not more than 2 months old)

2. BSNL Landline Telephone Bill (not more than 2 months old)

3. Municipal Tax Bill

4. APMC License Copy

5. GST Registration Copy,

6. Sales Tax registration copy.

• Other proofs acceptable by Bank.
• Passport Size Photograph – 2 Copies
• Registration Certificate of firm/shop and establishment/S.S.I /VAT/GST.
• Partnership deed along with firm registration certificate if registered.
• Copy of Memorandum and Articles of Association & Latest Form No.32. (For Company Account) / Resolution to operate the account.
• Pan Card(proprietor / partners / directors/ company) with forwarding letter
• Introduction from existing Account Holder

• Fixed deposit scheme is an attractive scheme to deposit your savings for fix period for 15 days to 60 Months.
• We provide attractive Interest Rates to our Customers from time to time.
• We offer 0.50% extra Interest Rate to Senior Citizens (Age 60 or above) on fixed deposits.
• Guardian can open Minor Fixed deposit account. But when minor turns major then at maturity he/she can withdraw the amount with his/her signature, after providing valid age proof and KYC of “Minor” who turns to “Adult”.
• We offer nomination facility for all deposit accounts.
• We provide quarterly Interest payment to our customers on their existing Fixed Deposits as per their instruction.Intrest is calculated per day basis as per RBI guidelines.
• Loan and Overdraft facility is available against Fixed deposit receipt.
• The maturity date of Loan and Overdraft Account against Fixed Deposit is maturity date of Fixed Deposit Receipt.
• TDS on Interest income will be deducted as per Income Tax Act. If depositer has given Pan Number then only 10% TDS will be deduct on interest, and if PAN Number is not given then 20% TDS will be deducted on interest.
• Customer can stop TDS deduction by giving FORM-15G or FORM-15H (for Senior Citizens)
• For 15-G, 15-H form submission PAN Card Number is compulsory.
• We are member of Deposit Insurance and Credit Guarantee Scheme [DICGC] in which customers deposit are insured up to Rs. 1 Lac.

Rules & Regulation for Fixed Deposit

• Depositor has to fulfill KYC norms as per RBI directives.
• Customer can Open Fixed Deposit A/c with minimum of Rs.1000/-
• In the case of premature withdrawal of deposit the Applicable rate of interest minus 1% penalty will be imposed.
• Applicable rate of Interest: Means the lower of interest rate between the existing rate of interest for which the deposit remains with the bank OR the prevailing rate of interest for which the deposit remains with the bank.
• All rights reserved to the Bank management to Change the Interest Rate of the Fixed Deposit Scheme without prior notice. Change of Interest rate will be applicable to new deposits only.
• The Bank having the rights of appropriation, set off of lien deposits on maturity.

Requirements to Fixed Deposit

• Valid Photo I.D. & Address Proof of proprietor / partners /directors
• Any one of proof for all partners/ directors or proprietor (Photo Id)
• 1.Passport, 2.Driving License, 3.Voter ID Card, 4.Government Approved College/university I.Card, 5. Government/Semi government/Department I.Card 6. Aadhar Card
• Address Proof(Any One)
• 1. Electricity Bill (not more than 2 months old) 2. BSNL Landline Telephone Bill (not more than 2 months old) 3.Municipal Tax Bill
• Other proof acceptable by Bank.
• Passport Size Photograph – 2 Copies
• Pan Card
• Birth Certificate for minor a/c.
• Senior Citizens have to produce age proof to avail extra Interest Rate benefit.

• Recurring Deposit is a monthly Scheme. Customer can Open Recurring A/c with minimum of Rs.100/- per month and in count of Rs. 100/- thereafter i.e. Rs.100/-, Rs.200/-, Rs. 300/- etc.
• Customers can open Recurring account for 12, 24 and up to 60 Months./li>
• We offer nomination facility for all deposit accounts.
• We are member of Deposit Insurance and Credit Guarantee Scheme in which customers deposit are insured up to Rs. 1 Lac.

Rules & Regulation for Recurring Deposit

• Depositor has to fulfill KYC norms as per RBI directive.
• Guardian can open Minor Recurring A/c. When minor turn major there after providing valid age proof he/she can withdraw the amount with his/her signature.
• Every Depositor must have to deposit their monthly installments regularly till the maturity of account.
• The maturity amount is payable after 30 days from the date of last instalment deposited.
• The Savings rate of interest will be applicable if the recurring deposit account of 12 months close before maturity.
• No interest will be applicable on excess installments deposited.
• Standing instruction will be accepted for transfer of monthly installments from other accounts maintained by the account holder.
• The Bank having the rights of appropriation, set off of lien deposits on maturity.
• 1% penalty in the interest will be applicable on withdrawal before maturity.

Requirements to open Reccuring Bank Account

• Valid Photo I.D. & Address Proof
• (A) Any one of proof (Photo I.D.)

1. PAN Card

                 2. Adhar Card

                 3. Voter ID Card

4. Passport

                 5. Government Approved College/university I.Card,

                 6. Government/Semi government/Department I.Card 6. Aadhar Card

• (B) Address Proof(Any One)
        1. Adhar Card      2. Voter ID Card3. Passport

4. Recent Elecrtricity Bill

                5. Telephone/Mobile Bill

• Recent Passport Size Photograph 2 Copies