This account can be opened by any individual provided he/she has valid KYC documents. Primarily meant for poorer sections of society to encourage them to start saving without any burden of charges or fees.
Features
Available at all branches
Minimum balance amount Nil
Maximum balance /amount No upper limit
No Cheque Book facility available.
Withdrawals only using withdrawal form at Branches or through ATMs.
Basic Rupay ATM-cum-debit card will be issued.
Eligibility
All individuals having valid KYC documents are eligible to open BSBD Account.
Singly, jointly, or with Either or Survivor, Former or Survivor, anyone or Survivor etc. facility.
KYC requirement
The account will be KYC compliant.
Most Important Terms & Conditions
The Customer cannot have any other Savings Bank Account, if he/she has a Basic Savings Bank Deposit Account. If the customer already has a Savings Bank Account, the same will have to be closed within 30 days of opening a Basic Savings Bank Deposit Account.
Maximum 4 cash withdrawals free of cost in a month, including ATM withdrawals at own and other Bank's ATMs, Cash withdrawal at Branch Channel, AEPS cash transactions.
Service Charges
Basic RuPay ATM-cum-Debit card will be issued free of cost and no annual maintenance charge will be applied.
Receipt/ credit of money through electronic payment channels like NEFT/RTGS will be free
Deposit/ collection of cheques drawn by Central/State Government will be free