The scheme is supposed to facilitate easy and regular withdrawal of funds as and when required and simultaneously earning of income on the balance that is kept in the account. Any person having a savings account is allowed to deposit money and withdraw to the extent of balance freely from his/her account. Individual banks however put a restriction on number of withdrawals and amount for each transaction in saving account, which are ten withdrawals per month and Rs. 100,000.00 per day for Global Bank.

Saving account is an interest bearing account. The interest is paid on minimum daily balance basis. The advantage of Savings account is that an individual can utilize the bank account for various payments while the balance in the account earns interest. The scheme is designed to encourage small savings . The interest in saving account is paid on quarterly basis.

• Minimum Balance: Rs. 1,000.00
• Interest Rate: 4.00%
• Free Internet Banking Services
• Free SMS Banking Services with Alert Messages

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24th February, 2010 [PDF, Size: 187.8KB]