Saving Bank Account-Government Departments

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Saving Bank Account-Government Departments

Exclusive Savings Bank Account for Government Departments with secure transactions, high interest, and seamless banking. Manage funds efficiently!

  • cheque availibilty
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Details for Saving Bank Account-Government Departments

The Savings Bank Account for Government Departments offers secure and efficient fund management with high-interest rates, seamless transactions, and exclusive banking benefits. Designed for government entities, it ensures hassle-free financial operations, priority services, and compliance with regulatory requirements for smooth banking.

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Interest Rate

2.90%

₹
Withdrawal Limit

Not available

₹
Transaction Limit

Not available

Minimum Balance Required

  • Not Required

Eligibility Criteria for Opening an Account

  • All Central, State Govt. Departments and other Govt. Undertakings/Corporations exclusively banking with our Bank. The Organization must conform to the RBI guidelines for allowing opening of Savings Bank account by Government Departments, etc.

Additional Benefits

  • No Minimum AMB required.
  • No penal charges levied in accounts with ZERO balance.
  • "At Par" facility in respect of issue of DDs/TTs/MTs, MICR Cheque Books, collection of cheques, Anywhere facility subject to the condition such remittances /collections are meant for credit of Govt. Departments, Undertaking, or Corporations. However postage and out of pocket expenses are recovered as per actuals.
  • Where the DDs/TTs/MTs are required to be issued in favour of beneficiaries other than the Govt. with the exception of remittances on account of loans and scholarships to students, the normal service charges shall apply.
  • Retired employees of Union Territories of J&K and Ladakh shall be extended ‘at par’ facility henceforth in respect of collection of their terminal benefits on reaching the age of superannuation. However postage and out of pocket expenses are recovered as per actuals.
  • Free e-banking/m-banking facility.

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