Savings
The most flexible account for your money and transactions. This is where your money grows as per prevailing interest rates.
All customers who are eligible as per Contract act can open SB accounts. You can open a savings bank account with us, with as little as Rs.500. You are welcome to use our online banking services. If you need to use a cheque book, you must retain a minimum of Rs.1000 in your account.
General SB
Supreme SB
Junior SB
Elite SB
Premium SB
General SB
Eligibility
Contract Act-eligible customers
KYC norms
ID proof
Address proof
Account Opening
Cheque book facility is available if required
Rate of Interest
Above 1 Lakh – 3%
as per Circular W.E.F. 02/04/21
Average Monthly Balance
Non- Cheque Account Rs.1000/-
Cheque Book Accounts Rs.2000/-
ATM / Debit card
Eligible for ATM cum Debit/Platinum card facility.
Supreme SB
Eligibility
Contract Act-eligible customers
KYC norms
ID proof
Address proof
Account Opening
Cheque book facility is available if required
Rate of Interest
as per Ciruclar W.E.F., 02/04/21
Average Monthly Balance
Average Monthly Balance are not required in these accounts.
ATM / Debit card
Eligible for ATM cum Debit/Platinum card facility.
Junior SB
INTRODUCTION
RBI has permitted to open SB accounts in the name of Minor’s who have attained the age of 10 years or more and also accounts are to be operated by the concerned minor only.
Eligibility
Age of 10 years or more and below 18 years. Especially these accounts are to be opened for the purpose of scholorships.
Account opening
Parent- ID proof and address proof
Minor -Photo, Study certificate containing the date of birth.
Declaration cum no objection letter is to be given by the natural guardian of the minor to the effect that the minor has acquired sufficient knowledge about opening / operating the account.
MISCELLANEOUS
On attaining the majority of the account holder a fresh set of application form with specimen signature card and a recent photograph of the minor duly countersigned by the guardian should be provided to bank.
Banking services are allowed to deposit, withdrawal of cash at the branch as well as ATMs, receipt of money through electronic payment channels like NEFT/RTGS and inward collection of cheques.
Average Monthly Balance
The JSB account can be opened with small amount of Rs.100/-.
OPERATION OF ACCOUNT
Operated by the Minor independently. Minor has to come to the branch in person for withdrawal. No cheque book, no overdrawing / TOD is permitted in the account. Maximum withdrawal of Rs. 10000/- per transaction
CHARGES
No charges – non-maintenance of Average Monthly Balance. Service charges – Rs. 10/- annually.
ATM/Debit Card – Rs. 25/- per annum.
In-operative accounts – No charges
ATM/DEBIT CARD
Eligible for ATM cum Debit card
Elite SB
Eligibility
Must be Professional or self-employed status with valid registration/license.taxpayer and filed IT returns of proceeding 3 years by declaring the income of Rs.3 lakh and more to confirm their Income.
KYC norms
ID proof, Address proof.
Registration certificate issued by the concerned authority in case of doctors & CA’s. License issued by the concerned departments/municipality etc. as in the case of engineers.
Account opening
Opened in ESB a/c opening form (opening form cum loan application). The introducer may also join as a Co-obligant to the Over Draft loan availed by the applicant. Applicant has to execute documents along with suitable Co-obligant (worth the loan amount)
Over Draft limit
Rs.1,00,000/- Must be utilized as Credit Card facility by using SUCO Debit Card only. Customer can draw the amount what he requires and when he requires through Debit cards only and not across the counter. Customers will be charged with the rate of interest as applicable to normal OD account only up to 90 days i.e. 16%.
Sanctioning Authority
Branch Managers are empowered to sanction the prescribed OD limit.
Period of loan
This loan is repayable within 90 days. Branches have to follow up these a/cs closely and ensure that the overdrawing is not remained in the account for not more than 90 days in any condition.
Rate of Interest
ESB a/c: Interest is paid as in case of SB deposit a/cs, and as per RBI guidelines issued from time to time. Presently interest is paid @4%.
OD a/c: Interest @ 16% up to 90 days. If the loan amount is not repaid even after completion of 90 days 3% penal interest is to be charged over and above the rate of interest.
Premium SB
Eligibility
Salaried employees of Government / Semi Govt. / Public / Private concerns and also a petty businessman who has filed IT returns to confirm his Income and who are using Credit cards of other banks.Applicant’s Salary should be not less than Rs. 50000/- per month.
OR
ii) The Customer should have declared his Annual Income at least minimum of Rs.2 lakh during the previous 2 years.
Charges
Same as normal SB accounts also applicable to these accounts.
Cheque book charges: – Rs.2 per leaf.
Account Opening
PSB accounts can be opened in specially designed PSB a/c opening forms (opening form cum loan documents). Introduction from a well known good customer having sufficient Net Worth is to be obtained. The introducer may also join as Co-obligant to the Over Draft loan availed by the applicant. Applicant should request the loan limit which he wants to avail at the time of opening of PSB account and also execute loan documents along with suitable Co-obligant at the same time.
KYC norms
ID proof
Address proof
Rate of Interest
a) PSB a/c : Interest is paid as in case of SB deposit a/cs, and as per RBI guidelines issued from time to time. Presently interest is paid @4%.
b) OD a/c : Interest @ 18% up to 90 days. If the loan amount is not repaid even after completion of 90 days, 3% penal interest is to be charged over and above the rate of interest.
Over draft limit
Maximum loan limit Rs.50,000/-
This OD account must be utilized as Credit Card facility by using SUCO Debit Card only. Customer can withdraw the amount through Debit cards only Debit Card issued on the day of the opening of account/Personalized Debit Card within a month if requests
Period of Loan: Repayable within 90 days.
Customer can avail this facility up to 4 times in a year.
Average Monthly Balance
Average Monthly Balance are not required in these accounts.
Charges
| SL. No. | Particulars | General SB | Supreme SB |
|
1
|
Non-maintenance of Average Monthly Balance | ||
| i) with Cheque book facility | Rs.50/- | No | |
| ii) with-out Cheque book | Rs.25/- | No | |
| 2 | Cheque Book Charges – Per Leaf | Rs.2/- | 2 |
| 3 | Cheque stop payment Charges | 50 | 50 |
| 4 | Service Charges – Yearly | 100 | 100 |
| 5 | Cheque Return Charges (Inward) | 500 | 500 |
| 6 | Account Closing Charges (a/cs closed before completion of 1 year from the date of opening) | 100 | 100 |
|
7
|
Average Monthly Balance | Non Maintenance of Avg Monthly Balance | |
| i) Saving Account – With Cheque Book | Rs.2000/- Average Monthly Balance | Rs.100/-+GST per Monthly | |
| ii) Saving Account – Without Cheque Book | Rs.1000/- Average Monthly Balance | Rs.50/-+GST per Monthly | |
| ii) Current accounts | Rs.5000/- Average Monthly Balance | Rs.100/-+GST per Monthly |