Savings Account

Savings bank account can be opened by:
  • Individuals
  • Jointly
  • Guardian on behalf of Minor in minor’s name.
  • Charitable Institutions
  • Trust, Clubs Association
  • Co-operative Societies
  • HUF
Minimum balance to be maintained.
  • With Cheque Book Rs. 1000/-
  • Without Cheque Book Rs.500/-
Interest Rate.
  • 3.5 % per annum.
  • Free any branch banking facilities.
  • Free ATM facility.
  • 60 Cheque leaves free p.a.
  • Half yearly Interest (on daily basis).
  • Nomination facility.
  • Pass Book.
  • Standing Instructions.
Minimum Documents Required
  1. 2 Passport size photo
  2. Introductions (Known and acceptable to Bank)
  3. Xerox copies of the following documents.
    1. Pan Card
    2. Residence Proof (Any one of the followings)
      • Electricity Bill
      • Passport
      • Driving License.
  4. for charitable institutions, Trust, Clubs Association, Co-operative Societies.
    1. Certified copy of resolution
    2. List of office bearers.
    3. Letter from the concerned authority.
Students Saving Bank Account above the age of 10 years.
  1. Account to be opened in the name of minor only with minimum balance of Rs. 200/-.
  2. Account should not be opened / converted in joint names.
  3. No cheque book to be issued.
  4. Withdrawal alongwith Passbook only.
  5. Declaration cum no objection letter should obtain from natural guardian that minor has acquired sufficient knowledge about opening / operating the bank account.
  6. Account should be introduced by head of institution where the student is studying or by the guardians who are having account with us.
  7. Mobile no. of the natural guardian to be obtained for sending SMS alert.
  8. Overdrawing should not be allowed.
  9. Once the minor becomes major all items & conditions for normal Saving Bank Account become applicable.
Deep Laxmi Saving Bank account (SBDL) for female with no age bar.
  1. The first account holder is female irrespective of her age i.e. whether minor or major or a senior citizen.
  2. The account can be opened in joint names including with male but the 1st account holder should be female.
  3. There is no restriction on mode of operation in the account if it is a joint account.
  4. Whenever female ceases to be first account holder either because of death or otherwise, the account should be closed.
  5. The usual compliance of normal saving account viz minimum blalance, KYC, cheque facility, mode of operation, nomination etc remain same.
Saving Bank Small Deposit Accounts (SBSDA)
  1. These accounts may be opened on the basis of simplified KYC norms as details below :
    • Utility bill such as Electricity, Telephone, Postpaid Mobile Phone, Pipe Gas, Water Bill not more than 2 months old.
    • Latest property, Municipal Tax receipt.
    • Bank / Post Office SB A/c statement of past 6 months.
    • Pension / Family pension payment orders by Govt. / PSUs.
  2. Letter of Allotment of accommodation from Employer by State / Central / Statutory / Regulatory / PSU / SC Banks / F.I.S. / Listed Companies, Leave & Licence Agreement with such employer, Letter of Foreign Embassy or Mission in India.
  3. The minimum balance for opening of such account is not required.
  4. Cheque book facility may be extended subject to maintenance of minimum balance in the account as per present rules.
  5. Interest rate payable @3.5% on monthly products.
  6. The account holders shall be offered Passbook facility free of charge.
  7. No service charges will be levied for non operation /activation of inoperative accounts.
  8. The total credits in such accounts shall not exceed Rs. 100,000/- in a year.
  9. The maximum balance in the account shall not exceed Rs. 50,000/- at any time.
  10. The total cash / transfer debits shall not exceeds Rs. 10,000/- in a month.
  11. Such accounts are valid for 12 months and the existing period may be extended for further period of 12 months.
  12. The holders of such accounts will not be eligible for opening any other Saving Deposit Account. However, existing Saving Bank account is required to be closed within 30 days from the date of opening of Savings Bank Small Deposit Account.

National Co-operative Bank