Management Co. Ltd. Kotak Securities Ltd.
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The Kotak BSBDA/Small Account is a Savings bank account with all basic banking facilities with no Minimum Balance requirements and hassle free documentation.
|Mode of operation||Single|
|Initial deposit amount*||Rs. 100/-|
|Average Monthly balance (AMB)||Nil|
|Rate of interest||Earn up to 6% p.a. interest on savings account balance over Rs 1 lakh and up to Rs 5 crs. Earn 5% p.a. interest on savings account balance up to Rs 1 lakh and 5.5% p.a. interest on savings account balance above Rs 5 crs. Applicable for Resident Accounts only.|
|Account opening charges||Nil|
|Smart Card (E-Passbook) Issuance charge*||Rs. 100/-|
|Physical Statement||Mini statement available through POT (Micro-ATM). Optional half yearly statement provided on request by BC.|
|Cash deposit charges||Nil|
|Cash withdrawal charges*||Rs. 3/- per transaction|
|Re issue of Smart Card*||Rs. 55/-|
|Product Available at||Business Correspondent-Customer Service Points at Balodabazar, Bilaspur, Gariabandh & Mungeli District of Chhattisgarh and Silvassa District of Dadra and Nagar Haveli.|
|Service Delivery||At designated Customer Service Points (CSPs) through Business Correspondent using Micro ATMs.|
Eligibility criteria and operating instructions
|This account is offered to those individuals who are deprived of basic banking services; belong to lower income group and beneficiaries of MG-NREGS towards promoting Financial Inclusion initiative.|
|The total balance in the account should not exceed Rs. 50,000/- at any given point of time.|
|The sum total of credits in the account shall not exceed Rs. 1 lakh in a year.|
* The above mentioned charges are exclusive of service tax and education cess. As part of our promotional offer, the earmarked charges and Initial Deposit have been waived.
Accounts opened on the basis of MG-NREGS job card are treated as BSBDA & on the basis of BC certification are treated as Small Accounts.
# The above mentioned BC arrangement/Initiative is in On-Line environment and the transactions are carried in real time.
Just walk in to your nearest Business Correspondent-Customer Service Points at Balodabazar, Bilaspur, Gariabandh & Mungeli District of Chhattisgarh and Silvassa District of Dadra and Nagar Haveli for more details.