Small Saving Deposit

KYC Compliance:

  A self-attested recent passport size photograph should be obtained.
  The person should affix his signature or thumb impression, as the case may be, on the form for opening the account in the presence of our Bank Official.
  Available KYC documents with the individual may be obtained.

Credits into the account :

  The aggregate of all credits in a financial year should not exceed rupees one lakh.

Debits in the account :

  The aggregate of all withdrawals and transfers in a month should not exceed rupees ten thousand.

Balance maintained in the account :

  The balance at any point of time should not exceed rupees fifty thousand.

Anywhere Banking :

  75% of the average net salary for the last three consecutive months subject to MaxNot Allowed.

SMS Alert :

  Allowed

ATM Card :

  Allowed

Debit Card / Cheque Book / Mobile Banking :

  Not Allowed.

Remittances from abroad :

  Foreign remittances cannot be credited to SMALL SB account without complying full KYC formalities.

Validity period of the SMALL SB account :

  SMALL accounts are valid for a period of 12 months initially which may be extended by another 12 months if the person provides Proof for having applied for an officially valid document.

To open Small Saving Deposit Account, you just need to provide :

  Duly completed account opening form
  Pan card /FORM 60- if, no Pan card
  Proof of Residence of the applicant(s)
  Proof of Photo Identification of the applicant(s)
  Proof of Age in case of senior citizen
  One recent passport size color photographs of Partner(s) / Director(s)
  Introduction by an existing customer, whose account is at least 6 months old OR
  Introduction letter of your existing bank verifying signature