SAVINGS BANK A/C It is an operative account which is opened by an individual in her/his own name or jointly with another person or either or survivor or persons and minor person through her/his father/mother guardian.
The nomination facility is available on Savings Bank Accounts and the account holders are advised to avail of this facility for smooth settlement of claim by legal heirs in unforeseen circumstances. Nomination can be made in favour of only one nominee. In case they do not wish to make a nomination, the fact should be recorded on the account opening form under their full signature. Joint account with survivorship benefit can be operated by the survivor, in such circumstances.
The Rate of interest is 4% paid on daily balance of Savings Bank account.
