|
Zero balance
Account No interest
Account |
Only two types of savings account SB - Gen & Basic Savings Account |
Number of joint accounts allowed an individual |
One single account
and no limit in the number
of joint accounts
with different adults |
Only one single account and one Joint account with an adult |
Number individuals allowed
in a joint account . |
Two or three |
Two only |
Minor account |
Guardian can open a minor account in the name of the minor even though minor is operating an account individually |
Guardian cannot open a minor account if the minor already operating an account in his name. |
Minimum amount to open SB account. |
Rs 50/ for non-cheque account Rs 500/-
for a cheque account |
Rs 500/- for Regular Accounts and Rs 00/ for Basic Savings Account |
Minimum amount
of Subsequent Deposits |
Rs 5/- |
Rs 10/- |
Minimum amount of withdrawal |
Rs5/- by SB-7 Rs 20/- By cheque |
Rs 50/- By SB-7 or Cheque |
Fraction of rupee in transaction |
Allowed |
Not allowed |
Production of Pass Book for withdrawal |
Not compulsory in CBS office |
Compulsory for withdrawal through SB-7 |
Maintenance charges |
Rs 20/- per Year if balance is less than Rs 50/- |
Rs 50/-+ GST per year if balance is less than Rs 500/-. Account will be automatically closed when the balance becomes zero |
Issue of cheque
book |
No charges |
10 leaves or 20 leaves
free in a calendar year. Rs 2/-+ GST for additional cheque leaves |
Cheque account/non cheque account |
Separate
categories for Cheque account Non-Cheque account |
No Separate category. Only one category of account |
Officially valid document |
|
Passport, Driving licence, Voters ID card issued by EC, MGNREGA Job Card,Letter issued by NPR |
ID proof should
be taken from |
Any Government issued ID card was enough |
PAN Card ,Adhar card or any of the officially valid document. |
Address proof
should be taken |
For address
proof electricity |
PAN Card ,Aadhar
card or any |
from |
bill, telephone bill or letter |
one of the officially valid |
from a recognised authority or |
documents. If address defers |
|
Bank Pass book was enough |
any one of the officially valid |
|
documents should be updated |
||
and submitted within two |
||
months from the date of |
||
opening. |
Clearing charge of cheque |
Up to Rs 1000/- Rs 30/- and Rs 3/- for
additional 1000 and part there of |
On actual basis as per the guidelines of RBI |
Dis honoured charge
of cheque |
Rs 50/- |
Rs 100/- + GST |
RECURRING DEPOSIT |
||
Minimum denomination |
Rs 1 0/- |
Rs 1 00/- |
Denomination in multiples
of |
Rs 5/- |
Rs 10/- |
Number of individua ls allowed in a Joint account |
2 |
3 |
RD loan should be in multiples of |
Rs 5/- |
Rs 10/- |
RD loan repayment should be in multiples of |
Rs 5/- |
Rs 10/- |
RD Loan interest |
5 Year
TD Interest + 2% |
RD Scheme Interest + 2% |
Protected Savings Scheme |
Maximum
benefit limited up to maturity value of Rs 50/- Age limit:
1 8 to 53 |
Maximum benefit limited up to maturity value of Rs 100 Age limit: 1 8 to 55 |
TIME DEPOSIT |
||
Deposit should be |
100 and
multiples of 100 |
1000 and multiples of 100 |
Number of individua ls allowed in a Joint account |
2 |
3 |
Number of times extension allowed |
Any number
of times |
Maximum two times |
Application for extension |
1Year TD : 6 Months |
1Year TD : 6 Months |
should be submitted within |
2 Year TD: 1 2 Months |
2 Year TD: 1 2 Months |
3 Year
TD : 1 8 Months |
3 Year
TD : 1 8 Months |
|
5 Year TD :36 Months |
5 Year
TD : 1 8 Months |
|
Premature Closure |
Completed Years: Completed years TD interest
rate - 1% (Compounded quarterly) Completed Months: Completed years TD interest rate at simple interest rate |
Completed Years: Completed years
TD interest
rate - 2% (Compounded quarterly) Completed Months
:SB rate of interest |
MONTHLY INCOME SCHEME |
||
Deposit should be |
100 and
multiples of 100 |
1000 and
multiples of 1000 |
If any deposit is made than the prescribed limit |
Should be repaid without any interest |
Should be
repaid with SB rate of interest |
SENIOR CITIZEN SAVINGS SCHEME |
||
Minimum amount to open an account |
Rs 1000 and multiples of 1 000 |
Rs 1000 and multiples of 1 000 No change |
Premature closure |
Not allowed for first one year |
Allowed at any time But no interest allowed
in the first one year.
If any interest is paid, it is adjusted from the amount of deposit. |
Continuation by Joint account holder/ nominee (spouse) after death of the account holder |
No age limit for spouse
for continuing the account |
l. Spouse should
be eligible to open a SCSS account (should be a senior citizen). 2.There should not be any other
account in the name of the spouse. |
Registration of nomination |
Not mandatory |
Mandatory |
If any deposit is made than the prescribed limit |
Should be repaid without any interest |
Should be repaid with SB rate of interest |
Annexure -1 |
Required |
Not required |
SUKANYA SAMR IDHI ACCOUNT |
||
Minimum amount to open the account and
minimum deposit to be made in a financial year |
Rs 250/- |
Rs 250/- ( No change) |
Subsequent deposit
should be in multiples of |
Rs 100/- |
Rs 50/- |
Birth certificate |
Any proof of date of birth like school certificate, PAN card, Pass port, Hospital record were enough |
l. Birth certificate issued by Municipal authority. 2. Any office authorised to issue birth
and death certificate by Registrar of birth and deaths. 3. The Indian consulate in any foreign country
as per
the Indian citizenship Act. |
For opening more than two accounts in case of twins I triplets |
Medical certificate was enough |
Affidavit by the guardian regarding the birth of multiple
girl children is required |
If the girl child becomes NRI ( With Indian Citizenship) |
Should be closed
with interest up to the previous month |
Allowed to continue until maturity of the account. |
If discontinued account
is not regularised within 15 years |
SB rate of interest
only payable |
SSA rate is admissible |
Registration of nomination |
Was not
allowed |
Mandatory |
At the time of marriage |
Age proof of the account holder to prove
that she is 18 years was enough |
The account
holder should furnish a declaration in non- judicial stamp
paper attested by the notary in support with age proof. |
Premature closure other than extreme compassionate grounds. |
Was allowed with SB rate of interest |
Not allowed |
PMI |
Was not eligible |
Allowed at SB rate |
PUBLIC PROVIDENT FUND |
||
Governed by |
PPF Act 1968 |
Government Savings Bank Promotion Act
1 873 |
Office in which the account can be
opened |
"B" Class offices and above only allowed |
In all the
departmental post offices allowed |
Minimum amount to open an account |
Rs 100/- |
Rs 500/- |
Maximum number of instalments in a month |
One |
No limit |
Maximum
number of instalments in a year |
1 2 |
No limit |
Loan interest if paid within 36 months |
2% |
1 % |
Repayment of Loan interest |
|
Debited from the loan account By batch process in Finacle CBS application |
NATIONAL SAVINGS CERTIFICATE |
||
Minimum amount to open |
Rs 100 and multiples of 100 |
Rs 1000 and multiples of 100 |
Can be opened in the name of minor by |
Any Adult |
Guardian only |
Number of adults allowed in a Joint Account |
Two |
Two or three |
Interest rate on PMC |
As per the table |
For first one year - No interest From one
Year to three Years- SB rate As per the table for completed years and half
years |
Fee for
Issue of pass
book in leu of lost or mutilated certificates |
Rs 5/- per certificate (duplicate) |
Rs 10- per registration number |
Conditions for transfer from one holder to another (NSC and KVP) |
1.To the near relative out of natural love and affect ion. 2.0n the death of the holder in the name of nominee. 3.When ordered by court of law. 4.0n pledging. 5.0n the death of one account holder in a Joint NSC account. |
1.0nthe death of the holder in the name of nominee. 2.When ordered
by court of law. 3.0n pledging. 4.0n the death of one account holder in a Joint NSC account. |
KISA N VIKAS PATRA |
||
Minimum amount to open |
Rs 1 000 and multiples of 1 000 |
Rs 1 000 and multiples of 1 00 |
Can be opened n the name of minor by |
Any Adult |
Guardian only |
Number of adults allowed in a Joint Account |
Two |
Two or Three |
Issue of pass book in the name of mutilated certificates |
Rs 5/- per certificate (duplicate) |
Rs 10- per registration |