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
- 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 1st July’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 1st July’22) for semi-urban branches, and an average quarterly balance of Rs. 2500 or a Fixed Deposit of Rs. 25,000 for a minimum tenure of 1 year 1 day (w.e.f 1st July’22) for rural branches
- If the required average balance is not maintained in Savings Account, the following non-maintenance charges will be levied:
| Balance Non-Maintenance Charges* |
AMB Slabs
(in Rupees) |
Metro & Urban |
Semi Urban |
| AMB Requirement -Rs 10,000/- |
AMB Requirement –Rs. 5,000/- |
| >=7,500 to < 10,000 |
Rs. 150/- |
NA |
| >=5,000 to < 7,500 |
Rs. 300/- |
NA |
| >=2,500 to < 5,000 |
Rs. 450/- |
Rs. 150/- |
| 0 to < 2,500 |
Rs. 600/- |
Rs. 300/- |
*Service Tax + Cess applicable
AMB – Average Monthly Balance
| AQB Slabs (in Rupees) |
Balance Non-Maintenance Charges* (per quarter) - Rural Branches |
| >= 1000 < 2,500 |
Rs. 270/- |
| 0 - <1000 |
Rs. 450/- |
*Service Tax + Cess applicable
AQB – Average Quarterly Balance