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Deposit Schemes

 

TYPES OF DEPOSIT ACCOUNTS:

Deposits of the public are broadly classified into demand deposits - which can be withdrawn on demand during the banking hours through withdrawal slip or cheque and time deposits - which are kept for specific periods and repayable on maturity. The time deposits also called term deposits, which can be paid pre-maturely, also with prescribed notice and penalty for pre-payment. For opening accounts with the Bank the public shall comply with the prevalent Know Your Customer (KYC) norms such as providing identity proof/residential proof and introduction etc. 

DEMAND DEPOSITS:

Current Accounts and Savings Accounts are categorised as demand deposits and prescribed minimum balance is required to be maintained in these accounts to enable servicing of such accounts. Non-maintenance of minimum balance will attract charges as prescribed by the bank from time to time. The prescribed minimum balance requirement is provided hereunder. 

CATEGORY  Rural/ Semi-Urban  Urban/ Metropolitan 
Current Account 


Individuals

Rs.1,000/- 
Rs.2,000/- 
Others

Rs.2,000/- 
Rs.3,000/- 
Savings Account 


With Cheque Book

Rs.500/- 
Rs.500/- 
Without Cheque Book

Rs.100/- 
Rs.250/- 
For Pensioners

Rs.5/- 
Rs.5/- 

The Minimum Average balance for SB/CA at CBS Branches are as under. 

Type of Account  Rural/Semi-Urban/Urban Centres  Metropolitan Centres 
Current 
Rs.5,000/- 
Rs.10,000/- 
SB General 
Rs.1000/- 
Rs.2000/- 
SB Pension 
Rs.250/- 
Rs.250/- 
SB Staff 
Rs.250/- 
Rs.250/- 
SB Students 
Rs.250/- 
Rs.250/- 
SB of persons who draw their salary through such account 
Rs.500/- 
Rs.500/- 
Pigmy Agents 
Rs.500/- 
Rs.500/- 
Penalty for non-maintenance of minimum average balance in CA 
Rs.100/- pm 
Rs.100/- pm 
Penalty for non-maintenance of minimum average balance in SB 
Rs.30/- pm 
Rs.30/- pm 

Note: At CBS branches the minimum monthly average balance is prescribed in place of minimum balance. 

TERM DEPOSITS:

  Under these deposit schemes depositors can opt for payment of interest either at maturity or at periodical intervals. Fixed Deposits, Social Security Deposits, Senior Citizen Security Deposits are schemes offering periodical interest payments. In respect of Suvidha deposit part withdrawals of principal amount is also allowed without penalty. The interest is compounded quarterly in Vikas Cash Certificate and payable along with principal at maturity.  
There is also a scheme for systematic investment plans/monthly savings or Cumulative Deposit, wherein fixed monthly instalments can be paid every month for the chosen period and the principal along with the quarterly compounded interest will be paid on maturity. 
The daily deposit scheme of the bank called Pigmy Deposit facilitates collection of deposits at doorsteps for 63 months through authorised agents of the Bank. The principal and interest are payable at maturity. 
Pre-mature withdrawal of term deposits is allowed on notice and on payment of penalty. Loans can be availed on the term deposits up to specific limits. 

NOMINATION:

Nomination facility is available in respect of all deposits, articles entrusted for Bank's safe custody and safe deposit lockers belonging to individuals /sole proprietors. Nomination can be made only in favour of an individual by the depositor/s and subsequent variation/ cancellation of the nomination is also allowed. It is recommended that the nomination facility may be utilised by the public without fail for all their deposit accounts. 
For details of various schemes click Our Deposits Schemes

"Your Deposits are Insured with DICGC" Please click here to know more about  Deposit Insurance 
General practices followed for Non Resident Indian (NRI) Accounts by our Bank 

Instruments/remittances sent towards credit of account/opening new account acknowledged.
Deposit receipts are kept in safe custody free of cost.
Carrying out standing instructions.
In respect of Term Deposits maturing on a holiday, we pay interest at the contracted rate for such holidays.
We have opened a website with special emphasis on NRI Services which is updated from time to time.

For details of various schemes click NRI Deposit Schemes


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