A Basic Savings Bank Account is a zero-balance account. Following are the features of the account: Average Monthly Balance: No minimum balance Initial Deposit: No initial deposit to open the account Account Holding: Single or Joint Cash Deposits: Free Passbook Facility: Free passbook available ...
5,000/- Average Monthly Balance For Rural branches: Rs. 2,500/- Average Quarterly Balance or Fixed Deposit of Rs. 10,000/- for a minimum tenure of 1 year 1 dayIf the required average balance is not maintained in savings account, the following non-maintenance charges will be levied:...
Savings accounts allow you to earn interest on the money you deposit. But as the name suggests, these accounts are meant for saving money. So there is a restriction on the number of certain types of withdrawals or transfers you can make in a month and usually a daily minimum balance requir...
Your Account Features No Minimum Balance requirements Tiered interest rates Ability to easily pay expenses by debit card, check, or bill pay Periodic reporting of your transaction activity (monthly and year-end reports) Access to our full suite of digital banking services to effectively manage your...
Savings Account Features: For saving money. Earns interest. Limited transactions. Requires minimum balance. Accessible via ATM, online, and mobile banking. 2. Current account As mentioned earlier, a bank designs different types of accounts with users’ needs in mind. So if you run a business or...
I have my regular account with unlimited transactions then why should I open a basic savings bank deposit account? Let me tell you, there are lots of people around us who don’t have a bank account because they can’t maintain the minimum balance limit. Like some students, employees who ...
Basic Savings Bank Deposit Account (BSBDA) BSBDA is a type of savings account that does not require a minimum balance. That said, it comes with certain restrictions. For example, the maximum balance in the account should not be more than INR 50,000 at any time; or the total value of ...
How is interest paid on my savings or money market account? What is the minimum balance to open an account? We’re Here to Help You’ve got a team of experts on your side. Whether you have a simple question or need a comprehensive banking solution, we’re here for you....
Minimum opening deposit $100 Start savingLearn more Grow your savings with a certificate of deposit (CD). CDs may be a good choice if you have some money in savings that you’re unlikely to need right away. They offer a higher interest rate than a traditional savings account in exchange ...
Earn interest on your Canadian Dollars (CAD), U.S. Dollars (USD), Hong Kong Dollars (HKD), Euros (EUR) or British Pounds (GBP) in a no monthly-fee savings account with no minimum balance required. Compare Accounts Our Savings Accounts ...