This deposit scheme is specially intended for business people and enterprises like proprietors, large scale and small scale partnership firms, public and private companies, trusts, organisations etc. Students SB Account is offered for students. ATM cards, Mobile Passbooks SMS Banking services will be provided free of charge. Interest is calculated based on the account balance on each day. Very little paperwork is involved for the same. The savings bank deposits are mainly aimed for individuals. There is no maximum limit for SB account. The Depositor can deposit small or large amounts and also can withdraw money as per convenience any time during working hours through cheque and always a minimum balance has to be maintained. Anyone with even basic income levels can own a Savings Account. These accounts make customers set aside a portion of their liquid assets while earning a monetary return. The scheme is one of the very basic deposit ideas.
The various types of term deposits available are:Ī Savings Bank Account is a multi-faceted scheme of the Bank with an aim to improve the savings habit among people.