1.
Any person approved by the Bank may open a Savings Bank Account. He/she has to
sign the relative Account Opening Form in presence of authorised official of
the Bank upon agreeing to comply with the rules governing Savings Bank Accounts
and providing satisfactory introduction.
2.
The Bank will not open an account which is to be operated under a cross mark or
signature by the hand of another person.
3.
Two Passport size photographs (three, if the account is to be operated by thumb
impression) are required to be submitted by the depositors at the time of
opening of a Savings Bank Account.
4.
Every depositor while opening a Savings Bank Account shall be required to
furnish PAN/GIR No. on the Account Opening Form if the depositor is an Income
Tax Assessee, or if not, to give declaration on Form No. 60/61.
5.
Savings Bank Account can also be opened by a natural guardian i.e. father or
mother or by a guardian appointed by the Court on behalf of a minor. Guardian
opening an Account in the name of minor under his/her guardianship shall have
to give a declaration that the funds withdrawn in the account of the minor,
from time to time, will be utilised for the benefit of the minor.
6.
The Bank reserves the right to verify the details given in the Account Opening
Form through any third party, if necessary.
7.
SB Accounts can not be opened by any trading or business concern, regardless of
its constitution.
However,
Clubs, Associations, Charitable Institutions etc. may open SB accounts subject
to verification of their rules and bye-laws copies of which are to be furnished
to Bank before opening such account.
8.
More than one SB Account cannot be opened by an individual singly without
special consent of the Bank. Joint accounts may be opened by two or more
persons where more of operation must be specified.
9.
Minors, having attained the age of 10 years and able to read and write, are
allowed to open account singly, but no cheque book will be issued against such
account.
10.
In case of minor’s account operated by the guardian, the right of the guardian
to operate the account will cease upon the minor attaining majority. Any
balance in the account will be deemed to be the exclusive property of the minor
who has attained majority, and further withdrawals from the account will be
allowed to the erstwhile minor alone after completing procedural formalities.
11.
Cash and cheque to be deposited in the Bank should be handed over to the
respective counters and no individual outside the respective counters have any
authority to receive them.
12.
The total number of withdrawals from the account whether by cheque or otherwise
will not exceed 50 per half year or such ceiling as may be decided by the Bank.
For additional withdrawals, a service charge at the rate decided by the Bank
will be recovered from the account.
13.
Cheque-book will be issued if the account is properly introduced. The SB
Account holder will be given 60 cheque leaves free of cost in a year as per the
present norms of the Bank and this is subject to change as may be decided by
the Bank. For additional cheque leaves, service charge as may be decided by the
Bank, will be levied. The customer may at the time of opening the account opt
not to use cheque books.
Account
holder should carefully note that while issuing a cheque, he/she should ensure
that sufficient balance is maintained in the account. Issuing cheque in
anticipation of funds to be credited to the account is not permitted. Also,
cheques issued and dishonoured due to account holder’s fault such as
insufficiency of fund/cheques drawn irregularly etc. will attract, apart from
service charge, levied by the bank, penal provision under the law of the land.
15.
Mutilated, post dated, stale and irregularly drawn cheque as also cheques
containing extraneous matter will be refused payment. Any alteration on the
cheques/withdrawal slip should be authenticated by the full signature of the
drawer.
16.
When depositing cheques for credit to an account depositors are required to
cross them before handling over the same for collection. Cheques deposited in
the account and returned unpaid will attract service charge at the rate decided
by the Bank plus interest as applicable.
17.
Instruments such as Cheques, Demand Drafts and Dividend/Interest Warrants will
be accepted for credit of an account only when the account has been properly
introduced and such instruments must be drawn in favour of the account holder
and not endorsed to him/her.
18.
The customer has to maintain minimum balance in the account as may be
prescribed by the Bank from time to time. Failure to maintain such minimum
balance in the account will attract penalty as may be levied by the Bank.
19.
For accounts operated by thumb impression,, the depositor must personally visit
the Bank along with the passbook to withdraw money from the account.
20.
If the passbook is lost and a duplicate thereof is sought, the depositor will
have to pay the prescribed charges for a duplicate passbook.
21.
The passbook and the cheque book are very important documents. At the time of
receiving the cheque book, the account holder should count the cheques therein
and draw the attention of the Bank if any cheque is missing therein. The
passbook and the cheque book must be kept in secured possession of the account holder.
Any loss must be brought to the notice of the Bank forthwith.
22.
Bank will register instruction from the drawer of a cheque to stop payment of
it but it cannot undertake any responsibilities in case such instructions are
overlooked.
23.
If the account is closed within a year from the date of its opening, a
prescribed charge will be levied.
24.
Bank reserves the right to close any account with prior intimation if it is not
operated satisfactorily.
The
Bank’s decision is such matter will be final.
25.
Nomination is accepted in favour of a single individual only.
26.
The Bank reserves the right to alter or add to these rules and such alteration
and additions shall be binding on the account holders.
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