Deposit Schemes

Account can be opened by

• Professionals in their individual name, singly or jointly.
• Institutions, clubs, associations, charitable trusts and religious institutions.
• Government bodies relating to funds for development purposes.

KYC and charges

• KYC norms are as per extant instructions of RBI.
• Minimum balance charge: Rs. 100 per annum if the minimum balance is not maintained.
• Cheque-leaf charge: Rs. 2 per leaf when issuing a cheque book.

Eligibility

• Any individual may open the account singly or jointly, subject to extant RBI KYC norms.
• No initial deposit is required.

Account conditions

• Zero balance, with transaction-volume limits as per RBI norms.
• Rate of interest: 2.5% per annum.
• No service charges.

Eligibility

• Businessmen, companies, industries and associations that frequently receive and pay amounts in cash or by cheque.
• The account is for customers requiring cheque facilities.

Balance and charges

• Initial deposit required: Rs. 5,000.
• Minimum balance to be maintained: Rs. 2,500.
• No interest is paid.
• Non-maintenance of minimum balance: Rs. 50 per month.
• Cheque-leaf charge: Rs. 3 per leaf plus 18% GST when issuing a cheque book.

Eligibility

• Individuals may open the account singly or jointly, subject to extant RBI KYC norms.
• Parents or guardians may open an account for a minor, subject to extant RBI KYC norms.

Deposit conditions

• Minimum initial deposit: Rs. 50 per month and in multiples of Rs. 10 thereafter.
• Period: minimum 6 months and maximum 120 months.
• Other business rules apply as per fixed deposit / term deposit accounts.

Eligibility

• Individuals, singly or jointly with one or more persons.
• Parents or guardians on behalf of minors.
• Partnership firms, companies, associations, clubs, charitable institutions and trusts.

Deposit and interest

• Minimum deposit: Rs. 1,000 and in multiples of Rs. 100 thereafter.
• Period: minimum 15 days and maximum 10 years.
• Card interest rates apply to term deposits; simple interest varies with the deposit period.

Loan and other facilities

• A demand loan of up to 75% of the deposit amount may be availed.
• The deposit may be used as collateral security for other bank loans.
• Nomination facility, premature closure and overdue deposit renewal are available.

Eligibility

• Individuals, singly or jointly with one or more persons.
• Parents or guardians on behalf of minors.
• Partnership firms, companies, associations, clubs, charitable institutions and trusts.

Deposit and interest

• Minimum deposit: Rs. 1,000 and in multiples of Rs. 100 thereafter.
• Period: minimum 6 months and maximum 120 months.
• Quarterly compounded card interest rates apply; compound interest varies with the deposit period.

Loan and other facilities

• A demand loan of up to 75% of the deposit amount may be availed.
• The deposit may be used as collateral security for other bank loans.
• Nomination facility, premature closure and overdue deposit renewal are available.