Corp NewGen Account

Corp NewGen Account
Who can open :
  • a) Students who have completed 10 years of age and are pursuing regular courses.
  • b) Existing SB A/cs of students already opened with the Bank can be converted to this new a/c.
Account Specification :
  • Savings Bank account for students, with Nil Quarterly average balance requirements and with Add –on facilities.
Initial Deposit and Quarterly Average Balance :
  • Nil - Initial Deposit
  • Nil - QAB
Penal charges for Non Maintenance of QAB :
  • Nil .
Rate of Interest :
  • Rate of Interest is 3.5% p.a. for balance below Rs.50 lakhs and 4% for balance of Rs.50 lakhs and above with effect from 01.09.2017. ( on daily minimum balance)
Add-on facilities :
  • Free Debit card
  • SMS Banking
  • Purchase of DD’s/PO’s through the account up to a maximum of 5 instruments in a month.
  • Collection of cheques up to a maximum of 2 instruments in a month.
Identification Document :
  • Copy of the student ID card issued by the school / college mentioning the course period should be held as proof of identity.
  • All existing guidelines for opening of a/cs including KYC norms have to be followed.
Conversion to Normal Saving Bank Account :
  • At the end of the course period the New Gen A/c
Other facilities offered :
  • Internet Banking
  • Personalized cheque book for students above 18 years of age All other facilities as applicable to normal Savings Bank account
  • E –passbook
  • E- mandate
  •  Missed Call Facility
  •  Apna-App
  • E-purse.