Current Account is opened by business people who have a number of regular transactions with the bank both deposits and withdrawals. In this account amount can be deposited and withdrawn at anytime without giving any notice, It is also suitable for making payments to creditors by using cheques received from customers can be deposited in this account for collection.

Salient features of the Current Account:

• There is no restriction on the number and amount of deposits and withdrawals.
• No interest will be paid for the amount held in the account.
• A minimum balance of Rs.5000/- to be maintained.
• If at any time, the balance is maintained below the minimum prescribed penal charges as fixed by the bank will be levied.
• For withdrawals only the printed cheque forms to be used.
• For supply of cheque books charges at the rate prescribed from time to time will be collected.
• It is the responsibility of the account holder to ensure safe custody of cheque book supplied to them.
• Mutilated, post dated and irregularly drawn cheques will be refused for payment.
• The signatures of the account holder on the cheque should be uniform and must agree with the specimen signature furnished by them.
• Pass book will be supplied to all current account holders.
• Statement of account shall also be given to the account holder on charges prescribed by the bank.
• Standing instructions will also be accepted subject to sufficiency of balances in the account.
• Account not in operation continuously for a period of two years will be treated as inoperated account.
• Change of address, if any, should be immediately brought to the notice of the bank for proper record.
• Keeping in view the importance of credit discipline for reduction in “NPA” level, a declaration from the account holder to the effect that he/she is not enjoying any credit facility with any other bank will be obtained; A “No-objection Certificate” from the concerned lending banks will also be obtained.

Who can open?

Account may be opened by

a)   A person in his/her own name.

b)   Two persons or more than two persons in joint names in any one of the following forms.

A&B       –              Either or Survivor
A&B       –              Jointly or Survivor
A&B       –              Former or Survivor
A,B&C   –              Anyone or Survivors or Survivor.

C) In the names of companies, partnerships, clubs, associations, religious, educational charitable and other        institutions on production of the following documents.

(i) Certified copies of byelaws, Articles of Association of the institutions/latest rules.
(ii) Original certificate of Registration issue by the appropriate authority.
(iii) Resolution copy.
(iv) Specimen Signatures.
(v) Additional documents if any.

Account opening Form:

Refer our “Downloads” section.