Basic Savings Bank Deposit Account Small:

New India Co-Operative Bank Limited offers a Basic Savings Bank Deposit Account for those belonging to low income group and are not able to produce documents as required under KYC guidelines issued by RBI to satisfy the bank about their identity and address.

Terms and conditions:

• The account is required to be introduced by another account holder maintaining satisfactory account with the bank for at least for six months and is fully KYC complied. Photographs of the prospective customer who proposes to open the account and also his address is certified by the introducer.
• The bank may charge the customer service charges as decided from time to time for any or all of the services rendered to the account holder after informing the customer.
• Any government taxes or dues that become contingent to the use of the facilities extended by the bank by regulation will be debited to the customer's account.
• The bank reserves its right with absolute discretion to revise the fees/charges related to the account from time to time.
• Balance in Basic Savings Bank Deposit Account should not exceed Rs. 50,000/- at any given time.
• Total credits into the account should not exceed Rs. 1,00,000/- in any financial year.

Eligibility:

You need to be a Resident Indian for opening a Basic Savings Bank Deposit Account.