Savings Bank Accounts may be opened by the following, who are known to the bank or are properly introduced.

Persons desiring to open Savings Bank accounts are required to fill in and sign application form (II-394) along with the usual specimen signature cards, producing two passport size photographs, details of PAN / GIR numbers or Declaration in Form No.60/61 as the case may be and an introduction from a person acceptable to the Bank.

A Savings Bank A/c. may be opened with a minimum balance of Rs.250/- in fully computerised branches and Rs.100/- in other branches to keep the account running. The same minimum balance should always be maintained. If a cheque book is issued, the concerned account shall have a minimum balance of Rs.250/-

If the savings Bank account shows balance below the minimum for a continuous period of one year or above, the branch may at its discretion close such accounts.

Further non-maintenance of minimum balance as stipulated above attracts penalty charges @ Rs.12/- per occasion.

Cheque books shall be issued only against production of duly signed requisition slips from the previous cheque book issued.

The total number of withdrawals i.e., Debit in Savings Bank Account should not exceed 50 every half year.

It is the obligation of the account holder to take care of the cheque books issued to him / her.

Interest is allowed on the savings bank account on a half yearly basis at the rate prescribed by the RBI on minimum monthly balance between the 10th and the last day of the month at the credit of each account on a minimum balance of Rs 10/- and above and on multiples of Rs.10/- provided interest thus calculated does not fall short of Re.1/- per half year.

Interest will be calculated for the half year ending 31st January and 31st July each year and will be credited to each account on or before the 10th February and the 10th August respectively each year.