Basic Savings Bank Deposit Account

This account can be opened by any individual provided he/she has valid KYC documents. Primarily meant for poorer sections of society to encourage them to start saving without any burden of charges or fees.

Features

1. Mobile banking
2. Minimum balance amount Nil
3. Maximum balance /amount No upper limit
4. No Cheque Book facility available.
5. Withdrawals only using withdrawal form at Branches or through ATMs
6. Basic Rupay ATM-cum-debit card will be issued.

Eligibility

1. All individuals having valid KYC documents are eligible to open BBD Account.
2. Singly, jointly, or with Either or Survivor, Former or Survivor, anyone or Survivor etc. facility.

Most Important Terms & Conditions

1. The Customer cannot have any other Savings Bank Account, if he/she has a Basic Savings Bank Deposit Account. If the customer already has a Savings Bank Account, the same will have to be closed within 30 days of opening a Basic Savings Bank Deposit Account.
2. Maximum 4 cash withdrawals free of cost in a month, including ATM withdrawals at own and other Bank's ATMs, Cash withdrawal at Branch Channel, AEPS cash transactions.

Service Charges

1. Basic RuPay ATM-cum-Debit card will be issued free of cost and no annual maintenance charge will be applied.
2. Receipt/ credit of money through electronic payment channels like NEFT/RTGS will be free
3. Deposit/ collection of cheques drawn by Central/State Government will be free
4. No charge on activation of inoperative accounts
5. No account closure charges.