Saving Account

Saving Account

Savings Account at The Kagal Co-op Bank Ltd comes with new facilities & services at no extra charge to the Customers. Eligible person/s and eligible organizations or agencies as approved can open Savings Account with the Bank. Savings Account can be opened with Rs.100/- and minimum balance to be kept in the Account is Rs.100/- only. Amount can be withdrawn from Savings Account by way of cheques or withdrawal slips. Interest is paid half yearly on Savings Account at 4 % p.a. as per the directives fixed by Reserve Bank of India.

Eligibility :

Savings Account can be opened in the name of Individuals Singly or Jointly or by minors of the age 14 years or above or under natural / legal Guardianship or by an illiterate or blind person.

Documents Required :

  • Duly filled in Account Opening Form with valid residential proof
  • PAN Number
  • 1 photograph
  • Introduction by existing account holder of the Bank.

Minimum Balance :

Account holder is required to maintain minimum balance of Rs.100/- for without cheque book & 500/- with cheque book in the account.

Facilities Offered :

  • ATM Card Facility with withdrawal Limit upto Rs.15,000/- per day
  • Any Branch Banking Facility through out all Branches of the Bank for operations in Savings / Term Deposit Accounts.
  • SMS banking facility for Transaction Alerts & Weekly Alerts
  • Statement of Account at daily/weekly/monthly/half yearly/yearly intervals by e-mail
  • Nomination Facility