Building Trust Through Cooperative Banking Since 1968
All deposit accounts are to be opened in the Bank's prescribed forms only.
Every depositor is required to submit two copies of his recent passport.
Every depositor is required to comply with "Know Your Customer" (KYC) Norms for his proper identification such as PAN Card,/GIR/Form 60 +61, Passport, Voter Identity Card, Driving License, Ration Card, Letter from Public Authority/Government/Corporate/Reputed Entities acceptable to the bank, utility bills etc. In support of residential proof any one such as Telephone bills, Electricity Bill, Maintenance Bills, Bank account statement is also required to be submitted.
Depositors can authorize others to operate accounts on their behalf with a Mandate/Power of Attorney.
Nomination facility is available only for individual deposit accounts.
For withdrawal of Term Deposits before maturity, interest is payable for the period deposit remained with the bank at the rate prevailed while initially placing of deposits less one percent penalty.
Demand loan/Overdraft facility is available against the security of term deposit/to the extent of 90% of the deposit plus accrued interest in case of cumulative deposits.
The interest payable on the above is one percent higher than the rate of the interest allowed on deposits.
In terms of Section 26A of the Banking Regulation Act, 1949, the amount outstanding in any account which has not been operated for ten years or more shall be transferred to the Depositor Education and Awareness Fund (DEAF) maintained by the Reserve Bank of India.
