KCBS - Savings Account

Savings account is intended to cultivate the habit of savings. It enables account holders to credit their savings as and when possible and withdraw when a need arises.

As on date the rate of interest on savings account of the society is  Rs.4.5% P.a

  1. Interest will be credited to the accounts of the depositors yearly twice (i.e) on 1st April and 1st October basing on the minimum amount maintained from 5th to last day of each calendar month
  2. An account can be opened with an initial deposit of  Rs.200/- and depositor should always Maintain a minimum balance of  Rs.200/-
  3. withdrawals are permitted only by withdrawal forms provided by the society
  4. Nomination facility is available
  5. Savings account can be opened by
    1. A person on his/her own behalf
    2. A guardian on behalf of a minor, by declaring the D-O-B-of the minor
    3. Clubs, Associations, Registered (or) unregistered charitable or religious institutions

HOW TO APPLY

  1. Application to open a savings account should be made in the society’s prescribed format.
  2. Membership should be taken paying Rs. 12/-
  3. Photo identity copies & photos of the account holder should be produced.