Product - Current Account
The Business concerns, Corporates, Companies, Trusts, Joint ventures, Firms, Institutions can open a Current Account. This Account provides un-limited transactions which suits the requirements of the above entities. The individuals who will be required to have more number of transactions through the accounts can also open Current Account. Your savings with our Bank are safe and also will be liquidated whenever you need/desire with nominal charges.
Eligibility : Individuals, Joint accounts, Proprietorship concerns, partnership firms, HUF, Public and Private Limited Companies, Registered or Unregistered Societies or Association, Trust/ Provident Fund, Executors/ Administrators, Govt./ Semi Govt. Dept, Taluk/ District boards, Charitable & Religious Institutions.
Stipulated Minimum Balance Current Account
Public Individuals Rs. 500/- Rs.1,000/-
Public Others Rs.1,000/- Rs.2,000/-
Charges for non-maintenance of minimum balances:
Rural/Semi Urban : Rs.250/- p.m.
Other centres : Rs.450/- p.m.
Cheque Facility: Available:
Nomination Facility: Available – For Individual Accounts, Joint Accounts, Proprietorship Accounts. (Not available for accounts held in representative capacity, partnerships, Joint Stock Companies, Associations, Clubs and other organizations)For details click here
Requirement for Opening Account:
Individuals: Click here
Partnership firm: Partnership letter signed by the all the major partners stating the nature of business, Name of the firm, address along with account operative instructions as to who will operate the account. Identity Proof of all the partners. In case of registered firms. Copy of the Registration of the firm. Copies of Registered partnership deed, if partnership is registered.
Limited Companies: Certified copies of memorandum and articles of association Certificate of incorporation. Names of the Directors of the company as stated in the Articles. In case of Public Limited Company, a copy of commencement of business issued by ROC Copy of the Board resolution appointing our Bank as Company’s Bank and names of the person (s) authorized to operate the account. Copies of balance sheets in case of existing companies. Proof of identity of authorized persons to operate the account.
Trusts: Copy of trust deed indicating the purpose, powers and functions of the trustees. In case of charitable trusts, a copy of the registration certificate which is register with the Charity Commissioner. Proof of identity of authorized persons to operate the account.
Cooperative Societies: Copy of Rules and bye laws. Copy of the resolution to open account with our Bank and authorizing the persons for operating the account. Proof of identity of authorized persons to operate the account.
Government and Public bodies: A copy of the letter of authority issued by the Competent Authority for opening the account.
Important Terms & Conditions/Facilities:
- No interest will be paid on Deposits
- Transfer of accounts between our wide network of branches.
- Low minimum balance maintenance requirements
- No restrictions on number of deposits/withdrawals
- Make payments by giving us standing instructions
- Remit funds from any part of the country to your account through NEFT.
- Account maintenance charges are applicable
- Passbook is issued and Statement of account is also issued at the request of Depositor
- KYC Norms of RBI to be followed for opening of Account