Savings Account
Savings account is a deposit account where you can store money and earn interest. Additionally you can also transact for payment of bills/ purchases and transfer funds to other accounts within the bank or other banks.
The main objective of savings bank account is to provide our consumers with an avenue for safely storing their money. It also inculcates the habit of savings among individuals, families and also among children. Additionally payments and remittances can be made from the account electronically reducing the risks of carrying large amounts of cash for the customer.
A savings bank account is advantageous in various ways. The notable features of the account are as follows:
- It enables the depositor to earn income by way of interest
- Amount can be deposited and withdrawn anytime as they are demand deposits
- Can be accessed through various other channels viz. Internet banking, ATMs, Mobile banking etc
- Saving account is of continuing nature. There is no maximum period of holding
- It provides secure electronic fund transfer facilities to other accounts facilitating easy bill payments and remittance
- Encourages savings habit
- E-Banking is available for viewing, maintenance and transactions
BSBDA small
Basic Savings Bank Deposit Account – Small.
BSBDA – Small Accounts with simplified KYC is offered to its customers with the following features:
- Simplified KYC
- No minimum balance requirement
- Zero account opening charges
- Maximum balance in account at any point of time – Rs. 50,000
- Maximum permissible total amount credited in the account per annum – Rs. 1,00,000
- Free passbook
- Free SMS alerts
- No charges on debit card issuance
- No debit card annual charges
BSBDA
Basic Savings Bank Deposit Account
NESFB offers BSBDA savings account for the masses which will have the following features:
- Zero balance basic banking
- No minimum balance requirement
- Zero account opening charges
- Unlimited cash deposits
- No charges on debit card issuance
- No debit card annual charges
- Doorstep transactions
- Free passbook
- Free SMS alerts
Regular Savings Account
- A very low quarterly average balance required
- Rural: Rs.500
- Semi Urban: Rs.1,000
- Urban: Rs.1,500
- Attractive rate of Interest
- 24X7 Internet banking
- 24X7 Mobile Banking
Premium Savings Account
- Quarterly average balance required Rs.25,000
- 24X7 Internet banking
- 24X7 Mobile Banking
- Attractive rate of Interest
- Unlimited free transaction at NESFB ATMs
- Free RTGS and NETF through branch
TASC Savings Account
- Quarterly average balance required Rs.1,00,000
- Unlimited Free Demand Drafts
- 24X7 Internet banking
- 24X7 Mobile Banking
- Attractive rate of Interest
- Unlimited free transaction at NESFB ATMs
- Free RTGS and NETF through branch
Institutional Savings Account
NESFB will offer a value added savings account for institutions such as trusts, associations, societies, clubs, NGOs, educational institutions, etc.
It shall have the following features:
- No minimum balance requirements
- Zero account opening charges
- Unlimited Cash deposits
- Free DDs
- Five free outstation cheque collections per month
- Doorstep banking
- Free SMS alerts
Salary Account
NESFB will also focus on tie-ups to source salary accounts relationships of the employees’ base of corporates, SMEs, business houses and other institutions.
Following are some of the features offered to the salary accounts:
- No minimum balance requirements
- Zero account opening charges
- Three free DDs per month
- Two NEFT/RTGS/IMPS per month
- Auto Sweep Facility available
- Unlimited free transactions at NESFB ATMs
- No charges on debit card issuance
- No debit card annual charges
- Doorstep banking
- Personalized Debit Cards
- Free SMS Alerts
- Free passbook
- e- statement free
SAVINGS DEPOSIT RATE
|
|
|---|---|
Rs 0 - upto 4.99 Lacs |
4.00 |
5 Lacs - upto 25 Lacs |
5.00 |
25 lacs- Upto 10 Crores |
5.50 |
>10 Crores to 25 Crores |
5.75 |
>25 Crores and above |
6.00 |
*Effective from 1st March 2021
