Savings bank accounts are mainly targeted at customers for the purpose of disciplining money management and enhancing their saving habits.This account can be opened by an individual, jointly with another individual, by a guardian on behalf of the minor, any organization owned or controlled by the Government and Societies.
- The account holder is requested not to keep specimen of his/her signature in the Pass Book and not to write anything on it.
- Best suited for all classes of people from all walks of life.
- Running / ongoing account.
- Cheques, Drafts, Interest warrants, Dividend warrants etc., in Indian rupees in the names of the depositors can be collected and credited to these accounts.
- Nomination facility is available.
- The depositor should see that the balance struck at the end of the last transactions is correct and report at once to the society where the account stands about any discrepancies that he/she may find without delay.
- Sent the pass book for being written up as often as possible at least once in a month.
- He/she should note that entries made in respect of remittance sent or credit of account must bear initials of a duty authorized officer of the society without which they are invalid and not binding upon the bank.
- The account holder should produce the passbook whenever demanded.
- Withdrawals shall be only by withdrawal slip and not by cheques.