Preamble | Types of Deposit Accounts | Account Opening and Operation of Deposit Accounts | Interest Payments | Minors' Accounts | Account Of Illiterate / Blind Person |Addition Or Deletion Of The Name/S Of Joint Account Holders | Customer Information | Secrecy Of Customer's Accounts | Premature Withrawal Of Term Deposit | Premature Renewal Of Term Deposit | Renewal Of Overdue Term Deposits | Advances Against Deposits | Settlement Of Dues In Deceased Deposit Account | Insurance Cover for Deposits | Stop Payment Facility |Dormant Accounts | Safe Deposit Lockers | Redressal of complaints and grievances

Account Opening and Operation of Deposit Accounts
A) The Bank before opening any deposit account will carry out due diligence as required under "Know Your Customer" (KYC) guidelines issued by RBI and or such other norms or procedures adopted by the Bank. If the decision to open an account of a prospective depositor requires clearance at a higher level, reasons for any delay in opening of the account will be informed to him and the final decision of the Bank will be conveyed at the earliest to him.

B) ) The account opening forms and other material would be provided to the prospective depositor by the Bank. The same will contain details of information to be furnished and documents to be produced for verification and or for record, it is expected of the Bank official opening the account, to explain the procedural formalities and provide necessary clarifications sought by the prospective depositor when he approaches for opening a deposit account.

C) ) For deposit products like Savings Bank Account and Current Deposit Account, the Bank will normally stipulate certain minimum balances to be maintained as part of terms and conditions governing operation of such accounts . As ‘No Frill Account’, the Bank has also offered a Special Savings Bank account where minimum balance requirement has been waived. Failure to maintain minimum balance in the account will attract levy of charges as specified by the Bank from time to time. For Saving Bank Account the Bank may also place restrictions on number of transactions, cash withdrawals, etc., for given period. Similarly, the Bank may specify charges for issue of cheques books, additional statement of accounts, duplicate passbook, folio charges, etc. All such details, regarding terms and conditions for operation of the accounts and schedule of charges for various services provided will be communicated to the prospective depositor while opening the account.

D) Savings Bank Accounts can be opened for eligible person / persons and certain organizations / agencies (as advised by Reserve Bank of India (RBI) from time to time)
Current Accounts can be opened by individuals/partnership firms/Private and Public Limited Companies/HUFs/Specified Associates / Societies / Trusts, etc.
Term Deposits Accounts can be opened by individuals/partnership firms/ Private and Public Limited Companies/HUFs/Specified Associates/ Societies/Trusts, etc.

E)The due diligence process, while opening a deposit account will involve satisfying about the identity of the person, verification of address, satisfying about his occupation and source of income. Obtaining introduction of the prospective depositor from a person acceptable to the Bank and obtaining recent photograph of the person/s opening / operating the account are part of due diligence process.

F)) In addition to the due diligence requirements, under KYC norms the Bank is required by law to obtain Permanent Account Number (PAN) or General Index Register (GIR) Number or alternatively declaration in Form No. 60 or 61 as specified under the Income Tax Act / Rules.

G)) Deposit accounts can be opened by an individual in his own name (status : known as account in single name) or by more than one individual in their own names (status : known as Joint Account) . Savings Bank Account can also be opened by a minor jointly with natural guardian or with mother as the guardian with restrictions for maximum balance (Status: known as Minor's Account). Minors above the age of 10 will also be allowed to open and operate saving bank account independently.

H)Operation of Joint Account - The Joint Account opened by more than one individual can be operated by single individual or by more than one individual jointly. The mandate for operating the account can be modified with the consent of all account holders. The Savings Bank Account opened by minor jointly with natural guardian / guardian can be operated by natural guardian only.

I) The joint account holders can give any of the following mandates for the disposal of balance in the above accounts :

i.) Either or Survivor: If the account is held by two individuals say, A & B, the final balance alongwith interest, if applicable, will be paid to survivor on death of anyone of the account holders.

ii. Anyone or Survivor/s : Anyone or Survivor/s: If the account is held by more than two individuals say, A, B and C, the final balance alongwith interest, if applicable, will be paid to the survivor on death of any two account holders.

The above mandates will be applicable to or become operational only on or after the date of maturity of term deposits. This mandate can be modified by the consent of all the account holders.

J) At the request of the depositor, the Bank will register mandate / power of attorney given by him authorizing another person to operate the account on his behalf.

K) The term deposit account holders at the time of placing their deposits can give instructions with regard to closure of deposit account or renewal of deposit for further period on the date of maturity. In absence of such mandate, the Bank will seek instructions from the depositor/s as to the disposal of the deposit by sending intimation before 15 days of the maturity date of term deposit. If no mandate is given or received by the Bank before the date of maturity of term deposit, the Bank will be at liberty to roll over the deposit on due date.

L) Nomination facility is available on all deposit accounts opened by the individuals. Nomination is also available to a sole proprietory concern account. Nomination can be made in favour of one individual only. Nomination so made can be cancelled or changed by the account holder/s any time. While making nomination, cancellation or change thereof, it is required to be witnessed by a third party. Nomination can be modified by the consent of account holder/s. Nomination can be made in favour of a minor also.

Bank recommends that all depositors avail nomination facility. The nominee, in the event of death of the depositor/s, would receive the balance outstanding in the account as a trustee of legal heirs. The depositor will be informed of the advantages of the nomination facility while opening a deposit account.

M) A statement of account will be provided by the Bank to Savings Bank as well as Current Deposit Account Holders periodically as per terms and conditions of opening of the account. The Bank will issue a Pass Book to Savings Bank account holders.

N) The deposit accounts may be transferred to any other branch of the Bank and/or State Bank Group at the request of the depositor.

O) The banks shall inform, at least one month in advance, the existing account holders, any change in the prescribed minimum balance and the charges that may be levied if the prescribed minimum balance is not maintained.

P) As regards Senior Citizens deposit account, changes in any instructions on the operation of the account will be confirmed within one month to the depositor in writing/by displaying on the notice board.