Features:
All resident individuals eligible to open a "No Frills Saving Account" except NRIs, trusts, societies, etc.
Any number of accounts in a family can be opened under this scheme.
Nomination facility is available.
Terms and Conditions:
Total credits in the account should not exceed Rs.1,00,000/- in a year.
The balance in all the accounts of the accountholders taken together in the bank should not exceed Rs.50,000/-.
No cheque book facility will be available.
Withdrawals will be through withdrawal slip.
Note: If at any point of time the balance in the NO FRILL ACCOUNT exceeds Rs. 50,000/- or total credits in the account in a year exceed Rs.1,00,000/-, the account will be kept deactivated and can only be re-activated as a Regular Saving Account after completion of KYC formalities.