Account can be opened by

A.   Mode

1. Individuals singly or jointly
2. Professionals in their individual names.
3. Clubs, Associations, Charitable trusts, Religions Institutions.
4. Government bodies established under specific acts.

B.   Rate of Interest: 3.00 % per annum on daily product basis.

C.   Minimum initial deposit & minimum balance in the account.

1. Rs.500/- without cheque book in rural branches.
2. Rs.1,000/- without cheque book in semi-urban & urban branches.
3. Rs.1,000/- with cheque book in rural branches.
4. Rs.1,500/- with cheque book in semi-urban branches
5. Rs.2,000/- with cheque book in urban branches.

D.  Nomination facility.

Eligibility to open the account:

1. Except Institutions, Associations, Trusts, Clubs, Societies, all Individuals can open this account, following the extant KYC norms.
2. Initial/ minimum balance: Zero balance
3. Rate of interest: As per SB deposit (3.00% P.A at present)

Service charges: No service charges for non-maintenance of balance.

• Minimum balance of Rs.25,000/- shall be maintained in the SB account. Balance available in SB account over and above Rs.25,000/- on any day will be automatically swept-out into fixed deposit of 180 days term in units of Rs.1,000/- each.

• In the event of shortfall in the relative SB account due to drawl of fund, then the fixed deposit will be swept back into SB account in required number of units on the basis of ‘LAST IN FIRST OUT (LIFO)’.

• No penalty will be levied for premature closure of FD account for bringing the balance in SB account to minimum level.

• The Deposit swept back into SB, if it has remained in FD for more than 15 days, shall earn interest as per the prevailing rates.

• Even while breaking the Fixed Deposit, only the most recently converted fixed deposit will be broken first to minimize the interest loss to the customer.

• When the Fixed Deposit matures at the end of 180 days, it will automatically renew the principle for next 180 days term, simultaneously crediting the interest to the Savings Bank account of the Customer.

• Service charge of Rs.100/- per month will be levied whenever the monthly average balance in the premium SB account goes below Rs.25,000/-.

1. a) Platinum Savings Bank Account

Eligibility to open the account:

1. Businessmen, Companies, Industries, Associations who; have occasion to receive and pay amount in cash/ Cheques quite often. These accounts are to be operated by Cheques only.
2. Minimum initial deposit & minimum balance in the account.
   1. Rs.5,000/- in urban
   2. Rs.3,000/- in semi-urban
   3. Rs.2,000/- in rural branches.
3. Interest: No interest (As per RBI guidelines)
4. Service charges:
   1. For non-maintenance of minimum balance Rs.200/- + GST per month.
   2. Cheque leave charges Rs.5/- per cheque leaf while issuing chequebook.
   3. Ledger folio charges: Rs.100/- folio + applicable GST per quarter with a minimum of 300/- + applicable GST for Current Accounts.

This deposit scheme is suitable for salaried persons and other persons who receive monthly income. Deposit shall be made in equal monthly instalments.

1. Eligibility to open: 

• Individuals, Singly or Jointly.
• Guardian on behalf of Minors.

2. Minimum amount: Rs.50/- per month and in multiples of Rs.10/- thereof.
3. Period: 1 to 10 years (in completed quarters)
4. Interest: As applicable to fixed deposit/term deposits.
5. Nomination facility available.

Note: “All other business rules applicable to fixed deposit are applicable to this deposit scheme”.

1. a) Flexi-Recurring Deposit account:

This deposit scheme is more suitable and useful to the depositors who deal with small business units, service sector, and earn money daily. The Bank’s agent will visit their houses/business places to collect the deposit amount.

1. Minimum amount of deposit is Rs.50/- and in multiples of Rs.5/- thereafter.
2. Period of deposit is 63 months.
3. Loan facility available against this deposit.
4. Interest rates applicable to NND Deposit scheme (separately).

1. Eligibility to open: - An Individual - Jointly with one or more persons. - Guardian on behalf of Minor. - Partnership firms, Companies, Associations, Clubs, Charitable Institutions, Trusts etc.

2. Minimum amount of deposit: Rs.500/- and in multiples of Rs.100/- thereof.

3. Period: Minimum 7 days and maximum 10 years.

4. Interest: Card interest rates applicable to term deposits (interest rate vary depending on the period of deposit)

5. Loan facility: Loan facility against the deposit is available.

6. Other facilities:

   • Nomination facility

   • Premature closing of deposit

   • Overdue deposits-renewal

1. Eligibility to open: As furnished in Fixed Deposit account scheme.

2. Minimum amount of deposit: Minimum of Rs.500/- and in multiples of Rs.100/- thereof.

3. Period: 12 months to 120 months (in completed quarters 12,15,18 so on)

4. Interest rate: Card Interest rates applicable to term deposits (interest rate varying depending on the period of deposit. Interest will be compounded quarterly and credited to the account on quarterly basis)

5. Nomination facility available.

This deposit scheme is introduced on the lines of the Central Government Notification on Bank term deposit scheme 2006 for the purpose of sec.80C(2)(XXI) of the Income Tax Act. The amount deposited under this scheme is eligible to claim exemption (upto Rs.1,50,000/-) under sec.80C of IT Act 1961.

1. Eligibility to open 

• Individuals, Singly or Jointly 
• HUF are eligible to open the account.

2. Minimum amount: Rs.100/- and multiples there of up to a maximum of Rs.1.50 lakh in a financial year.
3. Period: Five (5) years only.
4. Rate of Interest: As applicable to the fixed deposit/ Term deposits of 5 years’ period.
5. Lock in period: The deposit cannot be closed prematurely before completion of five (5) years period.
6. Loan facility: Deposits under this scheme are not eligible for pledge to secure loan or as security to any loan.
7. Nomination facility available.

  Pragathi Kuber -444 days – Special Deposit Product

• Further, additional interest rate over and above the applicable card rate will be applicable to Senior Citizens, Super Sr. Citizens, Staff & Retired Staff Members respectively, as per the existing guidelines

  Pragathi Kuber -444 days – Special Deposit Product

• Further, additional interest rate over and above the applicable card rate will be applicable to Senior Citizens, Super Sr. Citizens, Staff & Retired Staff Members respectively, as per the existing guidelines