Saving Account
The Panchmahal District Co-Operative Bank Ltd. offers a Savings Bank Account designed for individuals to save their money and earn interest. The bank emphasizes providing a "No Frills Account" with the option to maintain a zero balance.
Key Features:
- Interest Rate: The interest rate on a savings account is approximately 2.25% per annum, with interest compounded on a quarterly basis.
- Zero Balance Account: The bank provides a "No Frills Account" which allows members to operate the account with a zero balance.
- Digital Banking: The bank offers a variety of digital services, including:
- Internet Banking
- Mobile Banking
- NEFT/RTGS/IMPS/UPI: The bank facilitates electronic fund transfers through these services.
- RuPay Debit Card: Customers can obtain a RuPay Debit Card.
- SMS Banking: Stay updated on your account transactions with SMS alerts.
- Other Services:
- Passbook Facility: A passbook is provided to track transactions.
- Cheque Book: A cheque book facility is available.
- Safe Deposit Lockers: For the security of valuables and documents.
- Insurance: The bank provides various insurance services.
Who Can Open Saving Account?
- An individual (single or joint name)
- A minor, with the account being operated by a natural guardian.
- A minor who is over 12 years old and literate.
- An illiterate person (with thumb impression).
- Charitable and educational institutions.
- Corporations and government departments.
Required Documents:
To open a savings account, customers are generally required to provide valid KYC (Know Your Customer) documents. While specific requirements may vary, the following are typically needed:
1. Identity Proof (any one):
- PAN Card
- Aadhaar Card
- Passport
- Driving License
- Voter ID Card
2. Address Proof (any one):
- Passport
- Utility Bill (electricity, water, telephone, etc.)
- Voter ID Card
- Aadhaar Card
- Bank Account Statement/Passbook
- Ration Card
3. Other Documents:
- Recent passport-size photographs.
- Duly filled and signed account opening form.
Saving Deposit Rates
