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CURRENT ACCOUNT

CURRENT ACCOUNT

ELIGIBILITY

Individuals, Joint accounts (not more than 4), Proprietory concerns, Partnership firms, HUF, Public and Private Limited Companies, Limited Liability Partnership, Registered or Unregistered Societies or Associations, Trust / Provident Fund, Executors and Administrators, Govt./Semi Govt. Dept, Taluk /District Boards, Charitable & Religious Institutions.

SPECIAL ACCOUNTS

Provident Fund, Accounts of School / Red Cross Society, Accounts of Post Office, Accounts for issue of Dividend /Interest warrants.

DOCUMENTS REQUIRED FOR OPENING THE ACCOUNT

Application in the Banks’ prescribed form, Identity proof, Address proof, Photos, Memorandum and Articles of Association, Certificate of Commencement of Business, Partnership Deed, (wherever required) Certificate of Incorporation and Board Resolution, Registration Certificate (in the case of a registered concern) , Certificate / Licence issued by the Municipal Authorities under Shop & Establishment Act etc.,

MINIMUM DEPOSIT AMOUNT

Rs.1000/- in Rural/Semi-urban, Rs.5000/- in Urban/Metro cities

PERIODICITY OF DEPOSIT

Running (Operative) Account

INTEREST

Not eligible for interest

TDS

Not applicable

NOMINATION FACILITY

Available for Individual Accounts, Joint Accounts, Proprietorship Accounts. Not available for accounts held in representative capacity viz., partnerships, Joint Stock Companies, Associations, Clubs and other organizations.

LOAN FACILITY

Not applicable

OTHER FACILITIES

ATM cum Debit Card for individuals, Pass Sheet, Standing Instructions, Collection of local and outstation Cheques (at the cost of the account holder) etc.

APPLICATION AND DOCUMENTS

Application in the Banks’ prescribed form
Specimen Signature Card
Copy of PAN Card / Form 60 or 61 (if customer does not have PAN Card)
Photograph of Account holders/ Authorised signatories (2 copies each)
Proof of Identity and address as per KYC Norms
Any other related documents applicable to proprietor ship concern, Partnership Firm, Company, HUF etc.

 

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