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In accordance with the RBI (Reserve Bank Of India) guidelines on KYC (Know Your Customer) and Risk Categorization norms, Customers are required to complete the KYC formalities periodically.

Refresher of KYC is required for all OUR account holders.We are required to obtain identification documents from all our customers in case of every Individual, every Proprietor, each Joint Account Holder / Partner / Director / Trustee / HUF member, each other authorized signatory as under.

 

a) Proof of identity: (any one of the following)

  • Passport
  • PAN Card
  • Voter's Identity Card
  • Driving License
  • Identity card issued by the Employer (subject to Bank’s satisfaction)
  • Letter from a recognized public authoruty or public servant verifying the identity and residence of the customer to the satisfaction of bank.
  • Letter from a Gazetted officer verifying the identity and attesting photograph and address.

b) Proof of current address: (any one of the following)

  • Telephone bill
  • Electricity bill
  • Letter from employer (subject to Bank’s satisfaction).
  • Letter from any recognized public authority (subject to Bank’s satisfaction).

c) Recent Photograph (Passport size)

The above identification procedure is applicable to all existing and new customers. We, therefore, request all our customers to ensure that the above documents along with the copies of (a) and (b) are provided to the branch where the accounts are maintained, if the same had not been submitted at the time of opening their accounts or later. Documents (a) and (b) will be returned after verification, retaining the copies. To serve you better, it is important that the Bank has record of your current and correct addresses so that Bank communication could reach you. Please ensure your address on our record are current and correct. In respect of accounts other than those of individuals, respective constitutional documents viz, certified copies of Memorandum and Articles of Association, Certificate of commencement of business, Trust Deed, Resolution etc, as the case may be are required to be submitted.

  • India had established the deposit insurance system way back in 1961.

  • Safety about your valued deposit.

Yes, of course. They are quite safe. Thanks to strong regulation and supervision by Reserve Bank of India and system of internal control of banks, they are well capitalized, well managed and effectively regulated.


  • Our bank never referring to the other banks!

Yes,  It applies to all the banks operating in India including private sector, co-operative and even branches of foreign banks in India.
But occasionally there is news about some bank or the other being closed down by RBI. But what about my deposit?

Your deposits up to a particular limit (presently l lakh per depositor) are insured and paid back to you in the event of failure of your bank. Your deposits to the above extent are insured, possibly even without your knowledge.

 

  • DICGC insure your deposits

Your deposits are insured by Deposit Insurance and Credit Guarantee Corporation (DICGC), the second oldest deposit insurer of the world, quietly taking care of the interest of depositors, particularly small depositors. It is a wholly owned subsidiary of the RBI, created by an Act of Parliament.


  • Premium of the Deposit

You do not have to pay any premium. However, the DICGC charges a nominal premium from the banks. This premium is not charged to you.


  • About insurance claim.

In the case of  bank failure  , the liquidator would make a claim on your behalf and DICGC is bound to pay the valid insurance claims as soon as possible.


  • About deposit insurance

You can find more details at DICGC website www.dicgc.org.in or email at dicgc@rbi.org.in or address your queries to

DICGC DEPOSIT INSURANCE AND CREDIT GUARANTEE
CORPORATION
( Wholly owned subsidiary of the Reserve Bank of India)

 Deposit Insurance and Credit Guarantee Corporation, RBI (2nd Floor), Opp. to Mumbai Central Railway Station, Mumbai – 400008 Tel. No. (022) 2308-4121

Inretest Rate for Fixed Deposits: Effective from 12/01/2017

Sr.

Particular

Regular

Sr.Citizen

1

15 days To 45 days

3% 

3%

2

46 days To 90 days

4%

4%

3

91 days To 180 days

5%

5%

4

181 days To 1 year

6%

6%

5

12 months and above

7%

7.5%


Loan Interest Rates: Effective from 08/08/2016

Cash Credit

14%

Housing Loan

15%

Hypothecation Loan

13%

House Construction Loan 

14%

Secured Building Mortage Loan

14%

Gold Loan

10%

Unsecured Loan

15%

ODBML Upto 44.99 lakhs

13%

Appliance Loan

13%

ODBML 45lakhs and above

12%

Vehical Loan

NSC/KVP

12.50%

Two Wheeler Loan

10.50%

Govt. Security Loan

14%

Old Vehicle Loan

15%

LIC

12.50%