SAVINGS BANK ACCOUNT
REPCO offers Savings accounts for the purpose of inculcating the habit of savings among member customers so that a portion of one's hard earned maoney can be set apart for short term needs.
- Nomination facility available
- Cash remittance at base branch is Free
- Cash withdrawal at base branch is permitted Freeupto 5 transactions in a month.
- Minimum balance of Rs. 250/- to be maintained in Savings Account
- Penalty will be levied for non-maintenance of minimum balance.
- PassBook facility is available
- Standing instructions facility is available
- Nomination facility is available
- Account can be opened in the names of individuals singly / jointly / with either or survivor options
- A guardian on behalf of a minor.
- Latest passport size photograph of the applicant would be necessary to open an account.
- Proof of residence and identity should be furnished through any of the documents such as Passport, Driving License, Identity Card issued by income tax authorities, voter’s identity card for KYC compliance during membership.
- The account will be opened on submission of the duly filled in application form along with the initial deposit amount in cash (Minimum Rs.500/-) along with suitable introduction from a person known to the bank.
- Interest Rate (Daily Balance Basis) This may change from time to time as decided by the bank. Such interest is calculated on daily product basis and paid to the customer twice per year. (i.e. At the end of March / September every year)
- No TDS For interest earned in SB Account.