The following people are eligible to open a Regular Savings Account:
The following people are eligible to open a Regular Savings Account:
- Resident Individuals (sole or joint account)
- Hindu Undivided Families
- Foreign Nationals Residing in India*
- Minor above the age of 10 years are eligible to open self operated minor account and an ATM/Debit card can be issued to the Minor
*Foreign Nationals should be residing in India for a period greater than 180 days and must possess: A valid passport, a valid visa, FRRO (Foreign Region Registration Office) Certificate, and a Residential Permit
Minimum Balance Requirements
Minimum Balance Requirements
- To open a Savings Regular Bank Account, a minimum initial deposit of Rs. 10,000 is required for urban branches, Rs. 5,000/- for Semi-urban branches and Rs. 2,500 for rural branches
- It is mandatory to maintain a minimum average monthly balance of Rs. 10,000 or Fixed Deposit of Rs 1 Lakh for minimum 1 year 1 day period (w.e.f 1stJuly’22) for urban branches, average monthly balance of Rs.5000 or Fixed Deposit of Rs 50,000 for minimum 1year 1 day period (w.e.f 1stJuly’22) for semi-urban branches, and an average quarterly balance of Rs. 2500 or a Fixed Deposit of Rs. 25,000for a minimum tenure of 1 year 1 day (w.e.f 1st July’22) for rural branches
