SAVINGS BANK ACCOUNTS
RULES OF BUSINESS

1. Objectives :
Savings Bank account provides the scope for saving of money at attractive terms even with small amounts
with a convenience of withdrawing at your pleasure.

2. Who can open the Account :
Savings Bank account can be opened by an individual, jointly with another individual, by a minor by guardian, Associations, Trusts and the Societies. In case of minor /s accounts their date of birth and age should be furnished at the time of opening of the account.

3. Introduction :
This account should be introduced by a person well-known to the Bank.

4. Amount of Deposit :
This account can be opened with a minimum sum of Rs 5/- . However for a cheque operated savings bank account a minimum of Rs 100/- should be maintained at all times. In case of an account operated by a withdrawal slip a sum of Rs. 5/- should be maintained.

5. Period of Deposits :
The account can be continued for any length of period without any restriction.

6. Rate of Interest and its Application :
Presently there is an attractive rate of interest at 4 % P.A which however is subjected to change by Reserve Bank of India. The interest will be applied at the end of February and August of each year calculating the products for the previous six months ending with minimum balance held by him between 10th and the last working day of the month with a minimum amount of Re. 1/- and in multiple of Re. 1/-.

7. Nomination :
The account holder/s may nominate a person to receive the amount at credit of the account in the event
of the demise of the accounts holder/s.

8. Transferability of Account :
While account can be transferred from one branch to another it cannot be transferred from one person
to another. However at the instructions of the account holder / s the addition or deletion of another joint
holder
will be acted upon by the Bank.

9. Use of Specified Forms :
The Account holder should use the account opening from, specimen signature card, withdrawal slip /
cheque leaves issued by the bank for operating the account. He will also be given a pass book / pass
sheet for his records. ( Where a withdrawal slip is used for drawing cash, the account holder should
attend personally to
the Bank for the purpose)
1. Deposit are requested to present the pass book / pass sheet at least once in a fortnight or as
frequently as possible and without fail on or as soon as possible after 2nd march and the 2nd September
of each year in order that the closing entries for the half year may be made in them. The depositors should leave them at the Bank for at least three clear to be written up.

2. Depositors should carefully examine their pass book / pass sheet as soon as they are returned and
satisfy themselves that the entries made therein are correct, and that all credits are initialed. The Bank
will not be responsible for any sum not so acknowledged in the pass book / pass sheet.

3. Depositors should in no case make any entry or correction in the pass book / pass sheet
themselves.

10. Issue of Duplicate Pass Book / Pass Sheet :
In the event of loss of Pass book / pass sheet or issue of pass book / pass sheet the account holder
should pay a fee of Rs. 10 /- for issue of duplicate pass book and copying charges when necessary.

11. Right of Appropriation / Bank's Paramount Lien :
Under Banker's general lien the Bank has a right to appropriate the money in the savings Bank account towards the dues payable by the account holder/ s under account to the Bank.

12. Closure of in-operative / Undesirable Accounts :
Where an accounts remains in-operative for one year and above or where an account is operated by the account holder with insufficient minimum balance or where cheques issued by the account holder are
returned for want of "Full cover" or acting in a manner prejudicial in the interest of the bank such accounts
will be closed by the Bank with or without notice to the account holder after deducting the necessary
charges. The Bank reserves the right to charge the service charge of Rs. 20/- where the account is
in-operative for more than one year, if the balance is below Rs. 100/- but more than Rs. 20/-. Where the balance is below Rs. 100/- but more than Rs. 20/-. Where the balance in the account at credit is less than Rs.20/-, the same will be adjusted towards service charges and account will be closed.

13. Collection of Cheques in the Account :
Only first party cheques may be collected through the account and however under no circumstances
third party cheues will be collected as in the case of business accounts. Further no overdraft facility
will be allowed in the account.

14. Closure of Account :
The account can be closed only by the account holder / jointly by all the account holders.

15. Others :
Cheques supplied by the Bank should only be used. Constituent are requested while drawing cheques
to keep to the same style and spelling of their signatures as the specimen they furnish to the Bank for
its guidance. While drawing cheques the amount both in words and figures should be written distinctly
and in such a way as to prevent any alteration or insertion of any other word or words or figures after
issue. It is essential that cheque books be kept in a place of safety. The cheques should be written
in ink including ball point pen, not typed and only on the cheque forms supplied by the Bank, Blank
cheque forms must not, under any circumstances, be given to other parties. The Bank does not hold
itself responsible in any manner for any authorised payment resulting from negligence of the customer.
Unused cheques and requisition forms should be returned to the Bank at the time of closing of the
account.

16. Bank's Right to Alter Rules :
The Bank has got the right to alter the rules in this behalf and the account holder is bound by such
alterations in the rules.


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