Savings Max Account Eligibility Criteria

The following people are eligible to open a SavingsMax Account:

• The following people are eligible to open a SavingsMax 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 residing in India may open a SavingsMax Account by temporarily attaching an undertaking (QA 22 Form) stating their sources of credit with a copy of their residence permit

Minimum Balance Requirements

• The Average Monthly Balance (AMB) in the SavingsMax Account should be > or = Rs. 25,000 or maintain requisite FD Relationship as per branch location
• If the specified AMB or requisite FD Relationship is not maintained, transaction charges may be applicable
• The bank will notify the customer in advance by SMS/email/letter in the first month of non-maintenance of the required AMB in the account
• If the minimum balance is not restored in the month following a notice of shortfall, the following penal charges will be levied for all months, including the month of notice, until the AMB/AQB is maintained:

AMB in Slabs (in Rupees)	Service Charges in Case of Non-Maintenance*
>= 20,000 to < 25,000	Rs. 300/-
>= 15,000 to < 20,000	Rs. 600/-*
>= 10,000 to < 15,000
>= 5,000 to < 10,000
0 to < 5000

*6% of the Maximum Shortfall in the AMB slab of Rs. 600, whichever is lower.