The "Saving Account" is generally opened in bank by salaried persons or by the persons who have a fixed regular income. This facility is also given to students, senior citizens, pensioners and so on.
Saving accounts are opened to encourage the people to save money and collect their savings
NAME OF SCHEME | SPB GENERAL SAVING BANK ACCOUNT |
TYPE OF DEPOSIT | GENERAL SAVINGS BANK ACCOUNT |
MINIMUM BAL IN A/C | Rs. 500/-without cheque book facility Rs. 1000/- with cheque book facility Demat linked savings account minimum deposit account is Rs. 2000/- |
KYC COMPLIANCE | IN FULL |
BASIC FEATURES/FACILITIES | NOMINATION FACILITY (INDIVIDUALS ONLY) 40 CHEQUES FREE PER YEAR FREE ATM CARD IN FIRST YEAR FREE CASH DEPOSIT AT ANY BRANCH OF BANK |
NAME OF SCHEME | SPB JUNIOR SAVING BANK ACCOUNT | |||
TYPE OF DEPOSIT | SAVINGS BANK ACCOUNT | |||
MIN REQUIREMENT | MIN. BAL Rs.250/- | |||
MINIMUM BAL IN A/C | ||||
KYC COMPLIANCE | IN FULL | |||
NOMINATION FACILITY (INDIVIDUALS ONLY) | ||||
OPERATION IN THE ACCOUNT ALLOWED ALONGWITH GUARDIAN | ||||
CEILING OF DEP/WITHDRAWAL OF Rs. 5000/- PER DAY | ||||
& BAL NOT ABOVE Rs.1.00 LAC IN A/C | ||||
NO CHARGES IF AVERAGE QUARTERLY BAL. IS ABOVE Rs.20000/- | ||||
CONVERSION OF MINOR A/C TO MAJOR ON ATTAINING MAJORITY | ||||
IF THE A/C IS OPERATED FOR 5 YEARS & ABOVE, PRIORITY FOR | ||||
LOAN FACILITY FOR EDUCATION LOAN/MARRIAGE PURPOSE LOAN | ||||
@ 50% REBATE IN LOAN PROCESSING CHARGES |
NAME OF NEW SCHEME | SPB PREMIUM SAVING BANK ACCOUNT SCHEME |
TYPE OF DEPOSIT | SAVINGS BANK ACCOUNT |
MIN REQUIREMENT | AVERAGE QRTLY BAL Rs.50,000 |
MINIMUM BAL IN A/C | Rs.2500/- |
KYC COMPLIANCE | IN FULL |
NOMINATION FACILITY (INDIVIDUALS ONLY) | |
FREE PERSONALISED 3 CHEQUE BOOKS PER YEAR | |
UNLIMITED WITHDRAWAL PER QUARTER | |
FREE STANDING INSTRUCTION FACILITY | |
FREE ATM CARD WITH ADD ON CARD IN FIRST YEAR | |
FREE CASH DEPOSIT AT ANY BRANCH OF BANK | |
BASIC FEATURES/FACILITIES | WAIVER OF BAL CERT/FOLIO CHARGES |
WAIVER OF DD/PO ISSUE CHARGES | |
WAIVER OF REMITANCES/NEFT/RTGS CHARGES | |
PENALTY OF Rs.500/- FOR DEFAULT IN AVERAGE QUATERLY | |
BALANCE | |
PENALTY OF Rs 500/- FOR CLOSURE OF A/C WITHIN ONE YEAR |
Urban Co-operative Banks are advised to offer a ‘Basic Savings Bank Deposit Account’, which will offer following minimum common facilities to all their customers, by RBI
The above facilities will be provided without any charges. Further, no charge will be levied for non-operation/activation of in-operative ‘Basic Savings Bank Deposit Account’.