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

Below 1 lakh – 2.5%
Above 1 Lakh – 3%
as per Circular W.E.F. 02/04/21

Minimum Balance

Non- Cheque Account Rs.500/-
Cheque Book Accounts Rs.1000/-

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

2.5%
as per Ciruclar W.E.F., 02/04/21

Minimum Balance

Minimum balances 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.

MINIMUM 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 minimum 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.

Minimum Balance

Minimum balances are not required in these accounts.

Charges

SL. No. Particulars General SB Supreme SB
1
Non-maintenance of Minimum Balance(Quarterly)
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