Introduction
Sadharan Bachat Khata is a saving nature. of product which primarily targets to individual depositors. This product has been designed to encourage individuals to save money on regular basis on a high interest paying saving account. This account is attracted with higher rate of interest and least minimum balance.
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 simple and easy features to the ordinary individual deposit customers.
- Cross Selling of other products.
- To increase number of saving accounts through low/minimum balance.
Eligibility/Target Group
- Individuals, Professionals and all types of people.
- Salarv Accounts of different institutions.
Pricing/Amount/Features
- Minimum Balance to be maintained :Nil
- Interest Rate: As per timely Interest Published by the Bank (Click Here)
- Interest payable Quarterly.
- Tax on interest shall be levied as per prevailing Income Tax Act
Benefits
- Free ABBS Facility
- Free On demand account statement
- Free Cheque Book
Documentation
- Application Form.
- Other legal documents- Citizenship Certifrcate,2 pieces of passport size photographs.
- As per Operation Manual/KYC& AML Policy/ NRB Directives.
