Saving Accounts

All Individuals singly or jointly, or professionals are eligible to open these accounts.
Customers should have valid KYC documents
Mode of Operation: Single/Jointly/Either or Survivor/ Former or survivor, Later or survivor, etc.

Type of Deposit	Minimum Balance (in Rs)		Mode of Operation	Additional Information
Type of Deposit	Rural	Urban	Mode of Operation	Additional Information
Savings Bank with Cheque Facility	Rs.500.00	Rs.1,000.00	Single/Jointly
Savings Bank without Cheque Facility	Rs.200.00	Rs.500.00	Single/Jointly
Savings Bank No-Frill Account (BSBD)	Rs.0.00	Rs.0.00		Should be funded within 3 monthsKYC norms to be fulfilled within 12 months.Transaction restriction in amount and number.
Savings Bank PMJDY Account	Rs.0.00	Rs.0.00		Should be seeded with AADHAAR to avoid duplication of DBT
Savings Bank Megh. Junior	Rs.100.00	Rs.100.00		Student of age above 10 years and below 18 years.

The Interest on Savings account deposits is 2.70% (Detailed interest rates)

Facilities provided to access the funds through

Cheque
ATM Card
NEFT / RTGS
Mobile Banking
UPI / BHIM

Current Accounts

All Individuals singly or jointly, Professionals, Shops, Proprietorships, Partnerships, Clubs, Associations, Charitable Trusts, Religious Institutions, Government bodies established under specific Acts are eligible to open these accounts.
Individual Customers should have valid KYC documents.
Other entities (Professionals, Shops, Proprietorships, Partnerships, Clubs, Associations, Charitable Trusts, Religious Institutions, Government bodies) should have valid registration, GST, Trade License and other relevant documents relating to their establishment.
The minimum balance required to open a current account is Rs.3000.00.
No interest is payable in case of current accounts.

Term Deposit Accounts

Term deposits, also known as time deposits, are investment deposits made for a predetermined period of time, ranging from a few months to several years. The depositor receives a predetermined rate of interest on the term deposit over the specified time period. Funds deposited for longer time periods command a higher interest rate. Term deposit accounts pay a higher rate of interest than traditional savings accounts.

Type of Deposit	Amount (Min/Max)	Period
Term Deposit	Min. Rs 1000.00	7days -10 years
Recurring Deposit	Multiples of Rs.10.00	1year -10 years
Megh Junior Term Deposit	Minimun Rs.5000.00 Maximum Rs.20000.00	5 years
Megh Junior RD	Minimum Rs.20.00	5 years
Ka Spah / An.gni Gam Public Sr. Citizen Staff Staff Sr. Citizen	Minimum Rs.50000.00 Maximum Rs.5000000.00 *Only for the period 02.08.2023 to 30.09.2023, which may be reviewed as and when found suitable by the Committee.	425 days

For detailed interest rates, please click here

Rates of Interest for Fresh Term Deposits, Renewal of TDRs and Savings Account

Tenure	Rate of interest	Rate of interest for Senior Citizens
7 days to 45 days	3.00%	3.50%
46 days to 179 days	4.50%	5.00%
180 days to 1 Year	5.50%	6.00%
1 year to 3 years	7.00%	7.50%
3years to 10 years	6.50%	7.00%
Saving Bank Deposits	2.70%	2.70%

Note:

The rate applicable to all Senior Citizens and MRB Pensioners of age 60 years and The rate applicable to all Senior Citizens and MRB Pensioners of age 60 years andabove will be 0.50% above the rate payable for all tenors except 7days to 45 days.
Penalty for Premature closure: Interest payable on prematurely withdrawn deposits will be the contracted rate or the rate applicable for which the deposits remained with the Bank, with apllicable penalty.