Account opening form must be fully filled, (a) For Self, (b) Minor / Minor’s guardian Signature, (c) Joint account holder can operate either by both signatures or by any one signature. Account will not be open for more than two names.
Depositors can deposit Rs.1/- or more than Rs.1/- but not above Rs.1000/- Under this scheme.
Pass-books will be given to the Depositors. Duplicate pass-book will be issued if original is lost, by charging Rs.20/-
Bank’s representative will collect the deposit from the depositor.
Pass-books given will be updated daily. If any mistakes happened, notify the concerned officer.
Pass-books will be summoned every month in the bank for checking.
For this deposit scheme account will be opened for 6 months to 1 year.
Depositor will get the maturity amount as per the table given above. After completion of maturity period, if the full amount was not deposited, interest will not be paid.
If depositors want to close the account before maturity, deduction of Rs.20/- if amount is less than Rs.500/- and 4% if the amount is above Rs.500/-.
In case depositors demise the amount will be given to the nominee.
In case of emergency, 80% loan will be given on the two months balanced amount and 10% interest will be charged. Amount of loan should not be less than Rs.1000/-
To withdraw a deposited amount or to get a loan amount the person has to be present. Same can be done by Letter of Authority, but the bank will not take any guarantee, if there is any misdemeanor happens.
If there is any loan amount pending towards the depositor, the Bank has full rights to recover the loan amount at the time of maturity.
Bank has full rights to change above rules prior to any notice.