- Account may be opened in the name of an individual or jointly in the names of two or more to be payable to either or both all of them or to the survivor or survivors.
- Not more than one account shall be opened by one person in his/her name. Special arrangement can be made for Guardians and parents willing to open accounts in the name of minor.
- Interest is allowed as applicable from time to time. The amount of interest will be paid twice in a year i.e. on 30th Sept. and 31st March.
- During the period of notice weekly withdrawals are not allowed.
- All payments made into or by the bank will be entered in a pass book supplied by the bank free at the time opening of the account If the pass book so given is spoiled or lost a duplicate will be supplied on payment as applicable.
- No money withdrawn account closed is allowed without the production of the Pass Book.
- Depositor should see that the entries are correctly made and duly acknowledged in the Pass Book.
- No payment will be allowed against unrealized credits.
- Accrued interest during a year for Rs. 10.000/- or more is subject to T.D.S.
- Transaction of Rs.10 lakh and above in a year is covered under A.M.L.Act.-2002.
