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Basic Savings Bank Deposit Accounts (BSBDA) and Basic Saving bank Deposit Accounts Small scheme (BSBDS)

created Jul 1st 2020, 12:41 by ErPraveenPandey


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This account will be considered as normal banking service.
For this account, maintenance of minimum balance is not required. ATM card/ ATM cum Debit card, Rupay card will be given for the account holders. There are going to be no limit on the number of deposits that can be made in a month but, account holders will be allowed most of 4 withdrawals in a month, which includes ATM withdrawals also. The above facilities will be given without any charge. There will be no charge levied for non-operation/ activation of in-operative basic saving bank deposit account.
For this account, overdraft facility will be provided up to Rs. 5000/-.
 
--Basic Saving bank Deposit Accounts Small scheme (BSBDS)
 
These are accounts with relaxed KYC, with a minimum document requirement of self-attested address proof & photograph.
Total credit should not exceed 1Lakh rupees in a year.
Maximum balance should not exceed Rs. 50,000/- at any time.
Cash withdrawals & transfers must not exceed Rs.10, 000/- in a month.
Remittance from foreign account cannot be credited to this account without completing normal KYC formalities.
This account can be opened only at Core Banking Solution linked branches of banks or at such branches, where it is possible to manually monitor the fulfillments of the conditions.

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