Key Benefits

• Free Demand Drafts / Bankers Cheques to the debit of account.
  
  
• Free transfer of funds from customer's account to any other account in any branch of our Bank by Mail Transfer / Telegraphic Transfer (normal telegram charges apply).
  
  
• Free collection of outstation cheques drawn in favour of account holder.
  
  
• Immediate credit of outstation cheques up to Rs.25,000/-as per bank's norms and on payment of charges in force for giving immediate credit.
  
  
• Priority in allotment of Safe Deposit Lockers subject to availability.
  
  
• Free debit card wherever debit card connectivity is available.
  
  
• Interest payment on delayed collection of cheques as per bank's norms.
  
  
• All standing instructions as notified by the customers for transfer of funds within the branch or to our other branches will be carried out free of cost.
  
  
• Free unlimited chequebook facility to all account holders except illiterates.
  
  
• Waiver of processing charges on retail loans like Housing Loan, Consumer Durables Loan, Vehicle Loan, BOB Kanya Vivah Loan etc.
  
  
• The deposit account can be transferred at depositor's request free of charge to any of the Bank's branches offering this product.
  
  
• Interest earned is eligible for exemption under Section 80L of Income Tax Act, 1961.
  
  
• No deduction of TDS on payment of interest in Shubh Savings Bank.
  
  
• Provision for nomination.

Terms & Conditions

• All resident individuals (including minors) in single or joint names who are eligible to open Savings Bank a/c. These include salaried class people, businessmen, self employed, professionals, farmers, traders, housewives and minors above the age of 10 years.
  
  
• A minimum balance of Rs. 10,000/- (rural areas) and Rs. 15,000/- (Semi-Urban areas) has to be maintained throughout the tenure of the account.
  
  
• No ceiling on amount deposited / held in the account. However, in accounts of minors of age between 10 years and 14 years, the maximum amount that can be kept is Rs. 1/- lakh
  
  
• A fee of Rs. 100/- will be charged for accounts that do not hold the minimum balance.
  
  
• If the balance remains below the benchmark level continuously for 3 months, the bank may after giving due notice transfer this account to Savings Bank Account.
  
  
• A service charge of Rs. 300/- is deductible if the account is terminated before one year of completion.
  
  
• All other rules and service charges on inoperative accounts, addition/deletion of names, payment of interest, etc. governing Savings Bank Account shall apply to the Shubh Savings Bank mutates mutandis unless otherwise specified.
  
  
• No deduction of TDS on payment of interest in Shubh Savings Bank.
  
  
• Interest as applicable to a normal Savings Bank account will be credit to the account on a half-yearly basis (click here for interest rates).
  
  
• Documents required:
  
  
  • Passport size photograph
  • Proof of residence
  • An introduction as per Bank's norms