In order to make the basic banking facilities available in a more uniform manner across banking system, RBI has modified the guidelines on opening of basic banking no-frills accounts. Accordingly, our branches are offering a “Basic Savings Bank Deposit Account” in lieu of No frill A/c with following minimum common facilities to all customers:
The above facilities will be provided without any charges. Further, no charge will be levied for non-operation/activation of in-operative Basic Savings Bank Deposit Account. The Basic Savings Bank Deposit Account would be subject to our Bank's instructions on Know Your Customer (KYC) / Anti-Money Laundering (AML) for opening of bank accounts issued from time to time by the Reserve Bank of India. Holders of Basic Savings Bank Deposit Account will not be eligible for opening any other savings bank deposit account in the bank. If a customer has any other existing savings bank deposit account in the bank, he/she will be required to close the same within 30 days from the date of opening of a Basic Savings Bank Deposit Account.