Savings Deposit

Conditions of Savings Deposit

The Savings Deposit (SD) can be opened via offline/online mode with a minimum deposit of Rs 300/-

  • Minimum Balance to maintain in SD account: Rs 300/-
  • Maximum Balance permissible: No Limit
  • The Maximum deduction limit through monthly salary bill for savings is   Rs. 10,000/-per month.
  • The Maximum withdrawal limit will be four times a month. The maximum cash withdrawal allowed is   Rs. 10000 per day.
  • The maximum cash deposit limit is Rs. 20,000/- for offline mode, but for   Cheque/Online Mode has no limit.
  • Members can deposit savings amounts through the payment gate online at any time.
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Rate of Interest

The rate of interest in Savings Deposit is 4% p.a.

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Operation of Deposit Account

  • One Savings Deposit Account is permitted per shareholder, at a particular time.
  • Savings Deposit Account is mandatory for opening of Fixed Deposit & Recurring Deposit Accounts.
  • Depositor(s) furnishing LTI on their Savings Withdrawal should get it attested by the Senior Subordinate or Officer under whom he/she is employed under his/her official stamp.
  • A fee of Rs 25/- will be charged for issue of a fresh book in lieu of the book lost. No fee is charged for issue of fresh withdrawal book when the one in use is exhausted.
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Nomination facility

There will be facility for the depositor to furnish nomination/s. In case of minor nominee, the date of birth of such nominee should be furnished in the application form. The claim of nominee for payment of due amount will arise only on the expiry of the single depositor or both the joint depositors.

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Terms and Conditions