Basic Saving Bank Deposit Account
Bank has provided BSBDA facility to the customers which feature has described in the below context: -
BSBDA-Small Accounts would be subject to the following conditions:
i. Total credits in such accounts should not exceed one lakh rupees in a year.
ii. Maximum balance in the account should not exceed fifty thousand rupees at any time
iii. The total of debits by way of cash withdrawals and transfers will not exceed ten thousand rupees
in a month.
iv. Foreign remittances cannot be credited to Small Accounts without completing normal KYC formalities
v. Small accounts are valid for a period of 12 months initially which may be extended by another 12 months if the person provides proof of having applied for an Officially Valid Document.
vi. Small Accounts can only be opened at CBS linked branches of banks or at such branches where it is possible to manually monitor the fulfilments of the conditions