Savings Bank account

SAVINGS BANK ACCOUNT

After became a member of the society, he should open one Savings account for doing financial transaction with the society. The minimum amount for opening savings account is Rs. 100/- and he can have Group Accidental Insurance for a sum of Rs. 50,000/- by keeping a Rs. 500/-(minimum) balance in the account throughout the carrier of the account. Once opened the savings account cannot be closed before completion of the one year. Interest @5% per annum on calculating daily products will be paid twice a year in September and March of the Financial year.