Basic Savings Bank Deposit Small Account
Personal BankingSaving AccountSalary AccountsCurrent Accounts
Basic Savings Bank Deposit Small Account
- Features
- Eligibility
- KYC requirement
This account can be opened by any individual above 18 years old, who do not have Officially Valid KYC documents. There are many restrictions in operation of the account due to the relaxed KYC. Account can be converted to Regular Savings Account upon submission of KYC documents. Primarily meant for poorer sections of society to encourage them to start saving without any burden of charges or fees.
Features
- Available at all branches except specialised branches e.g. Personal Banking Branches (PBBs)/ Special Personalize Banking (SPB)/ Mid Corporate Group (MCG)/ Corporate Account Group (CAG) branches.
- Withdrawal from branch or through ATM
- Basic RuPay ATM-cum-debit card will be issued.
- Minimum balance amount is NIL
- Maximum balance of Rs. 50,000/-
Eligibility
- As applicable to regular Savings Bank Account
- Singly, jointly, or with Either or Survivor, Former or Survivor, anyone or Survivor etc facility.
KYC requirement
Liberalised (Submission of self-attested photograph and affixation of signature or thumb impression before the officer of the Bank who is authorized to approve opening of accounts)
Most Important Terms & Conditions
- Balance at any point of time should not exceed Rs 50,000/-.
- Aggregate of all withdrawals and transfers in a month should not exceed Rs 10,000/-.
- Aggregate of all credits in a Financial Year should not exceed Rs. 1.00 lac.
- If the balance exceeds Rs. 50,000/- or total credit in the account exceeds Rs. 1,00,000/- in a year, no further transaction will be permitted until the full KYC procedure is completed
- Maximum 4 withdrawals in a month, including ATM withdrawals at own and other Bank's ATMs and transactions through other mode including RTGS/NEFT/Clearing/Branch cash withdrawal/transfer/internet debits/standing instructions/EMI, etc. No further customer debits would be allowed during the month.
- Foreign Remittances are not allowed to be credited into a Small Account unless the identity of the client is fully established through the production of officially valid documents.
- A Small Account shall remain operational initially for a period of twelve months, and thereafter for a further period of twelve months if the holder of such an account provides evidence before the Bank of having applied for any of the officially valid documents within twelve months of the opening of account, with the entire relaxation provisions to be reviewed in respect of the said account after twenty four months.
- If KYC documents are not submitted to the Bank within 24 months of opening of the account, no further transaction other than for closure of account will be permitted.
- Conversion of Small account to regular Savings Bank account or BSBD account (at the option of the customer) would be done by the home branch manually on full compliance with KYC requirement. After such conversion, the same account number will continue.
Service Charges
- Basic RuPay ATM-cum-Debit card will be issued free of cost and no annual maintenance charge will be applied.
- Receipt/ credit of money through electronic payment channels like NEFT/RTGS will be free.
- Deposit/ collection of cheques drawn by Central/State Government will be free.
- No Account closure charges.
Last Updated On : Wednesday, 09-02-2022
Interest Rates
Start From
11.15% p.a.*
*T&C Apply.
View All
SEE PRODUCTS APPLY NOW
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
View All
SEE PRODUCTS APPLY NOW
Starts From 8.75%*
SBI Gold Loan
*T & C Apply
View All
SEE PRODUCTS APPLY NOW
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
View All
SEE PRODUCTS APPLY NOW
8.15% p.a.*
*T&C Apply.
View All
SEE PRODUCTS APPLY NOW
8.85% p.a.
View All
SEE PRODUCTS APPLY NOW
7.00%
2 years to less than 3year
6.50%
5 years and up to 10years
View All
SEE PRODUCTS APPLY NOW
Quick Links
- Doorstep Banking Services
- FAQ's
- Interest Rates
- Unauthorized Digital Transaction Reporting
Savings Accounts Landing Page
Limited Time Offers - Unlimited Joy
Insta Plus Savings Bank Account through Video KYC
Insta Plus Savings Bank Account through Video KYC
More Information
Basic Savings Bank Deposit Account
Basic Savings Bank Deposit Account
More Information
Basic Savings Bank Deposit Small Account
Basic Savings Bank Deposit Small Account
More Information
Savings Bank Account
Savings Bank Account
More Information
Savings Account for Minors
Savings Account for Minors
More Information
Savings Plus Account
Savings Plus Account
More Information
Motor Accidents Claim Account (MACT)
Motor Accidents Claim Account (MACT)
More Information
Resident Foreign Currency (Domestic) Account
Resident Foreign Currency (Domestic) Account
More Information
Download Account Opening Form
Download Account Opening Form
Download Account Opening Form
Criteria
- Features
- Eligibility
- Terms and Conditions
Interest Rates
Start From
11.15% p.a.*
*T&C Apply.
View All
SEE PRODUCTS APPLY NOW
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
View All
SEE PRODUCTS APPLY NOW
Starts From 8.75%*
SBI Gold Loan
*T & C Apply
View All
SEE PRODUCTS APPLY NOW
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
View All
SEE PRODUCTS APPLY NOW
8.15% p.a.*
*T&C Apply.
View All
SEE PRODUCTS APPLY NOW
8.85% p.a.
View All
SEE PRODUCTS APPLY NOW
7.00%
2 years to less than 3year
6.50%
5 years and up to 10years
View All
SEE PRODUCTS APPLY NOW
Quick Links
- Doorstep Banking Services
- FAQ's
- Interest Rates
- Unauthorized Digital Transaction Reporting
'); } else { // $(this).height(150); // $(this).append(''); } }); }); $(document).on("click", ".expando-div", function() { var item_length = $(this).find('.item-height').length; var name = $(this).attr('data-btn') var features_hgt_height, arr = [], a; var $current_div = $('.hgt_200').find('.expando-div[data-btn="' + name + '"]') // var attr_val = $('.expando-div').attr('href'); for (var j = 0; j <= name.length; j++) { $.each($("." + name + ":not(:first)"), function(index, value) { a = $(this).parent().find('.item-height').val(); if (a != undefined) { console.log(a, "the itemheight") var iNum = parseInt(a); arr.push(iNum) } }); } features_hgt_height = Math.max.apply(Math, arr); $.each($(".item-height"), function(index, value) { var div_height = $(this).parents('.hgt_200').find('.item-height').val(); var $div = $(this).parents('.hgt_200').find("." + name); var main_head = $(this).parents('#compare_records').find('.li_height[data-text="'+name+'"]'); $div.animate({ height: features_hgt_height }, 1000); main_head.animate({ height: features_hgt_height + 35 }, 1000); $current_div.text("Read Less...") $current_div.removeClass('expando-div') $current_div.addClass("less_div"); // if($current_div.hasClass("new_class")) {{ // $div.animate({height:160},1000); // $current_div.removeClass("less_div"); // $current_div.addClass("new_class"); // $current_div.text("Read More...") // } }); }); $(document).on("click", ".less_div", function() { var item_length = $(this).find('.item-height').length; var name = $(this).attr('data-btn') var $current_div = $('.hgt_200').find('.new_class[data-btn="'+name+'"]') var main_head = $(this).parents('#compare_records').find('.li_height[data-text="'+name+'"]'); main_head.animate({ height: 197 }, 1000); $.each($(".item-height"), function(index, value) { var div_height = $(this).parents('.hgt_200').find('.item-height').val(); var $div = $(this).parents('.hgt_200').find("." + name); $div.animate({ height: 150 }, 1000); $current_div.text("Read More...") $current_div.removeClass('less_div') $current_div.addClass("expando-div"); }) console.log(main_head) }) $(document).on("click", "#compareOther", function() { $('#contentArea').removeClass('hide') $('.product_page').addClass('hide') $('.inner_sbi-session').parent().removeClass('hide'); $('.mobile_view').parents('body').find('.cont_section').removeClass('hide') $(this).parents('.otherProd').removeClass('box_shadow') $('.otherProd').removeClass('box_shadow') $('#compare_records .compare_box_grid:not(:first)').remove(); $('.slider_compare ').removeClass('hide') $(".land_box").removeClass('hide') $('.compare_list_wrap').addClass('hide'); $(".land_box").find('.apply_more_btn').removeClass('hide'); $(".land_box").find('.main_content').removeClass('hide'); $(".land_box").find('.sub_content').addClass('hide'); $('.compare_data').not(':eq(0)').remove(); $(".checkCompare").prop("checked", false); $(".checkCompare").prop("disabled", false); $(this).addClass('hide') $(this).parent().addClass('hide') $('.prodct_mb_hide').addClass('hide'); $('.titleOtherProd').addClass('d-md-block') }); $(document).on("click", ".btn_pro_close", function() { var compare_parent = $(this).parents('.compare_box_grid'); compare_parent.remove(); }) var wrap = $("#compare_records"); wrap.on("scroll", function(e) { if (this.scrollLeft > 20) { wrap.find('.mobile_div').addClass("fix-search"); } else { wrap.removeClass("fix-search"); } }); });
