Introduction
This Product Paper states and defines process/procedures relating to Normal Saving Account.
Normal Saving Account is a deposit scheme designed to cater the saving needs of individuals. It is meant for those individuals who have a habit of saving from their earnings so that they can use it whenever they require.
Type of Deposit
Savings Deposit
Purpose of the Deposit
- Increase the saving habits of people.
- Increase our retail / saving deposit base
- To reduce concentration on corporate and call deposit (comparatively volatile in nature)
- Provide a savings deposit product with the simple and easy features to the ordinary deposit customers.
Benefits
- Free ABBS Facility
- Free On demand account statement
- Free Cheque Book
Documentation
- As per Operation Manual/KYC& AML Policy/ NRB Directives.