As per RBI Guidelines, Entities Eligible to Open Saving Account

(Govt. & Institution)

Government Departments/Bodies/Agencies in Respect of Grants/Subsidies Released for Implementation of Various Programmes/Schemes Sponsored by Central Government/State Governments Subject to Production of An Authorisation from the Respective Central/State Government Departments to Open Savings Bank Account

Companies Governed by the Companies Act, 1956 which have been Licensed by the Central Government under Section 25 of the said Act, or under the Corresponding Provision in the Indian Companies Act, 1913 and Permitted, Not to Add to their Names the Words 'Limited' or the Words 'Private Limited'

Primary Co-operative Credit Society which is being Financed by the Bank

Khadi and Village Industries Boards

Agriculture Produce Market Committees

Societies registered under the Societies Registration Act, 1860 or Any Other Corresponding Law in Force in a State or a Union Territory Except Societies Registered under the State Co-operative Societies Acts and Specific State Enactment creating Land Mortgage Banks

Housing Societies, Education Institutions, NGOs, Healthcare, Clubs & Associations and Trust

As per RBI guidelines, Savings Account cannot be

opened for

Government departments/bodies depending upon budgetary allocations for performance of their functions

Municipal Corporations or Municipal Committees

Panchayat Samitis

State Housing Boards

Water and Sewerage/Drainage Boards/State Textbook Publishing Corporations/Societies/Metropolitan Development Authority/State/District Level Housing Co-operative Societies (6) Any Political Party or Any Trading/Business or Professional Concern, Whether Such Concern is a Proprietary or a Partnership Firm or a Company or an Association

Can Open Current Account If Not Eligible for Saving Accounts

Entities that Are Not Eligible to Open a Savings Account Can Open Current Account

Minimum Balance Requirement

Zero

Net Banking and Mobile Banking

Free Net Banking, Mobile Banking and Phone Banking

RTGS/NEFT, IMPS Charges

Free RTGS/NEFT/IMPS

Mobile (SMS) & Email Alert

Free SMS Alerts & Email Alerts as per Customer Requirement

Free Account Statement (Frequency-Daily/Weekly/Monthly) as per Customer Request

Free Account Statement, Customer Can Avail Free Monthly Account Statements OR Opt to Avail Daily/Weekly/Monthly Statements on E-Mail

Cash Management Services/Cash/ Cheque pick-up management/

Provision for Cash Pick up Service. Charges May be Waived if Average Balance in the Account is More than Rs. 100 Crore

Cheque Book

Free 'Payable at Par' Cheque Books

Local and Outstation Cheque Collection

Free Local and Outstation Cheque Collection

Free Cash Withdrawals Across All Locations

Free Cash Withdrawals Across All Locations

Free Unlimited Issue of Demand Drafts

Free Unlimited Issue of Demand Drafts

Bundled Offering of Payment Gateway & POS Terminals

Bundled Offering of Payment Gateway (IOB PAY) & POS Terminals/POS Solutions

Free Bill Payment ~ Facility with Option of Autopay

Free Bill Payment Facility with BBPS Option of Autopay

Dedicated Relationship Manager

Dedicated Resource Manager at Each RO