Deposit products offered by SGB
Savings Bank Account
The facility of Savings Bank Account is meant for cultivating the habit of saving by the individuals for their future needs. The transactions in the SB Account should be of non-business and non commercial nature.
Monitoring Your Account
Monitor, control and manage your funds through large network of branches of the Bank work on 100% CBS platform. Funds can be remitted from any of the branch.
Savings Bank Account
Individuals (singly or jointly), Professionals in their individual names, Clubs, Associations, Charitable trusts, Religions Institutions, Government bodies (established under specific Acts) can are eligible to open the Savings Bank Account.
- Rate of Interest – 3.50% p.a. fixed by Bank on daily product basis.(Half yearly compounded )
- Nomination facility - available.
- Cheque Book facility – available
Minimum Balance Requirement : With Cheque Book Urban & Semi-urban Rs.2000/-
(Average Qly. Balance) Rural Rs.500/-
Without Cheque Book Urban & Semi-urban Rs.1000/-
PENALTY NOT MAINTENANCE (Per Quarter Rs. 100 for Rural and Rs. 200 for Urban & Semi Urban)
- Standing instructions from the customers - executed.
KYC Norms of RBI to be followed for opening of Account
Rules for operations in Savings Bank Account
1. Account can be opened by the amount decided by bank time to time, but one person can’t get open more than one account. Minimum balance has to be kept in accounts as per the norms.
2. If any depositor/borrower is illiterate, than he/she has to give thumb impression along with the signature and passport size photograph of prominent person.
3. Customers are advised to operate bank account and make conversation with bank with the specimen signature given in bank’s documents.
4. Every depositor/borrower will be given one passbook, which shall be presented at the time of depositing or withdrawing money. Nobody except bank officer shall punch transactions entries in the passbook. Computerized passbook printing does not need signature on transaction sheet.
5. First passbook to account holder is given free of charge. If passbook is damaged/lost by the account holder, new passbook will be issued on chargeable basis as per prevailing charges.
6. Keep your passbook with you only otherwise someone will take benefit of your irresponsibility and withdraw money from your account. In such case bank will not take any responsibility.
7. Nomination facility is available in deposit accounts.
8. All rights lies with the bank to change/alter these norms without prior intimation to account holder.
9. Passbook update at regular interval shall be advisable. If no query raised by account holder about the transaction entries in the passbook, it shall be treated as correct entries and account holder stands solely responsible for.