INTEREST RATE: 7% per annum (Based on daily minimum balance)
Savings accounts are opened to encourage the people to save money and it allows the holder to deposit money as is convenient, on which the holder can earn interest and allowed to withdraw money from the account as and when required. A Savings account may be opened by an individual or jointly and requires the holder to usually maintain a pre-specified amount as minimum balance
Saving Account Scheme- Features
- Minimum amount of deposits for open a saving deposit account is Rs.100
- The money can be deposited by using deposit slip in the concerned branches
- The money can be withdrawn by using withdrawal slip in the concerned branches.
- Passbook facility is available.
- Saving account is of continuing nature. There is no maximum period.
- A minimum amount of Rs.100/- has to be maintained in saving account.
- Enable the depositor to earn high rate of Interest @ 7.00% P.A. based on daily minimum balance.
- No loan facility is provided against saving account.