Student Savings Bank Account

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Student Savings Bank Account

Start saving smart with the Student Savings Bank Account! Enjoy zero balance, easy banking, and exclusive benefits designed for students.

  • cheque availibilty
  • penalty for nonmaintenance
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Details for Student Savings Bank Account

The Student Savings Bank Account is tailored for students, offering zero balance requirements, digital banking, and exclusive benefits. It helps young individuals develop financial discipline while enjoying easy transactions, free banking services, and secure savings. A perfect way to manage finances while focusing on studies.

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Interest Rate

2.90%

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Withdrawal Limit

Not available

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Transaction Limit

Not available

Eligibility Criteria for Opening an Account

  • The account holder should be a student.

Additional Benefits

  • The account shall be subject to Know Your Customer (KYC) /Anti-Money Laundering (AML) norm/guidelines for opening of Bank accounts.
  • The accounts shall be opened with initial deposit of Rs 50/- or above. However, no single credit entry of Rs 5,00,000/=or above shall be permitted
  • No requirement of maintaining minimum balance. No penalty levied in accounts with ZERO balance.
  • Debit Card issued free of charges. No annual usage charges levied.
  • 20 free cheque book leaves available to students above the age of 18 years. Beyond 20 leaves charges @ Rs 2/- per leaf charged.
  • Free e-banking/ SMS facility.
  • 7.50% concession on normal charges in respect of issue/ cancellation of Demand Drafts & Pay Orders (only for study purpose).
  • Maximum four withdrawals in a month including ATM withdrawals.
  • The account shall be offered other facilities like RTGS/NEFT, inter –Branch transfers, collection of cheques etc.against normal service charges.
  • Holders of ‘Student Savings Bank Account’ will not be eligible for opening any other savings bank deposit account.
  • Student Savings Bank Account shall be converted to General Savings Bank Account after completion of studies or on attaining the age of 28 years whichever is earlier
  • Nomination facility available.

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