Scheme features & terms
Savings deposit is intended mainly to encourage the savings habit among the members.
A savings account can be opened with any amount not less than Rs 100/-.
Accounts can also be opened and operated jointly by more than one member.
Savings account holders will be provided with passbooks and withdrawal slip leaves to facilitate withdrawals.
The balance in the account can be withdrawn at the will of the member/s, presenting withdrawal slips and the passbook, keeping the minimum balance of Rs 100.
In the case of accounts in official capacity, necessary proof of the authority to open and operate the account shall be produced; in the event of a change of the person in office, proof of authorization for the new office holders shall be presented.
Though only the account holder can withdraw money from the account under their signature, remittances can be made by another person. Remittances can be by cash or by cheque/draft on other banks, in which case the account will be credited only after realizing the proceeds of the instrument. No withdrawal pending realization will be permitted.