This account is made for fulfilling the day to day banking needs of the customer. From this account, one can withdraw money actively and use it for frequent withdrawals and deposits with the help of cheques. This is the most basic kind of account which can be used to take care of your regular accounts and manage salary, savings, funding and all kinds of daily monetary aspects.
Eligibility |
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Documents required for opening account |
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Minimum deposit amount | Rs. 2,000/- (and Maintain Minimum Balance of Rs. 2,000/- ) |
Minimum balance and incidental charges | Half yearly |
Periodicity of deposit | Running(Operative) Account |
Interest | Not applicable |
Nomination facility |
Available for Individual Accounts, Joint Accounts, ProprietorshipAccounts. |
Other facilities |
Debit Card for individuals, PassSheet,Standing Instructions,Collection of local and outstation Chequebook facility,SMS Alerts,IMPS, PO/DD facility, UPI, Scan code, POS Machine, etc. |
Inoperative accounts |
Accounts in which there are no operations for a period of two years and above from the date of last operation will be treated as inoperative accounts. Service charge as prescribed by the bank will be levied on such accounts. if no operations are there for ten years amount will be transfer to DEAF account @ RBI. The Bank reserves to itself the right to alter/add/delete the rules at any time. For this purpose, the Bank shall not require to give a separate notice to each account holder. All announcements of any change in the rules, displayed on the Bank’s Notice Board or published in the press/ Bank’s web site shall be deemed to be sufficient notice to all account holders. |
Closure of account |
Request for closure of account shall be in writing. The account holder shall return all unused cheque-leaves and Pass-book and declare that all cheques issued by him / her on the account have been duly accounted for in the account before closure. The bank reserves to itself the right to close any account, which in its opinion is not properly conducted or is otherwise undesirable for any reason. If the account is closed within one year from the date of opening, incidental charges as prescribed by the bank will be levied and deducted from the balance before it is paid. |
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