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Society Account

Saraswat Bank presents Society Account - a digitally equipped account to manage all your Housing society tasks like Online Maintenance Payment, Billing and Accounting, Gate Pass, and a lot more seamlessly.  The account comes in three variants. 

Particulars

Society Value

Society Plus

Society Prime

                                                                         Features
Eligibility Housing Societies, Commercial Complexes Housing Societies, Commercial Complexes Housing Societies, Commercial Complexes
Minimum Balance & Average Quarterly Balance (AQB) Account opening deposit & AQB to be maintained at Rs.25000/-  Account opening deposit & AQB to be maintained at Rs.75000/- Account opening deposit & AQB to be maintained at Rs.150000/-
Welcome Gift
Rate of Interest 3% p.a. 3% p.a. 3% p.a.
Concession on Retail Loan to Society Flat Owners Not Applicable 0.25% Concession in Processing Fees for Home Loan, Car Loan & Education Loan 0.50% Concession in Processing Fees for Home Loan, Car Loan & Education Loan
Value Added Service - Society Connekt Package* Saraswat Bank Society Connekt Package will be chargeable as applicable.
  1. Automated Maintenance Billing
  2. SMS & Email Notification
  3. Collection of dues via Payment Gateway
  4. Virtual Account
  5. Online Management of Society Data
  6. Track Accounting of the Society
  7. Bank Statement View
  8. Mobile App for every resident
 Saraswat Bank Society Connekt Package will be available at a discounted rate.
  1. Automated Maintenance Billing
  2. SMS & Email Notification
  3. Collection of dues via Payment Gateway
  4. Virtual Account
  5. Online Management of Society Data
  6. Track Accounting of the Society
  7. Bank Statement View
  8. Mobile App for every resident
 Saraswat Bank Society Connekt Package will be at free of cost. 
  1. Automated Maintenance Billing
  2. SMS & Email Notification
  3. Collection of dues via Payment Gateway
  4. Virtual Account
  5. Online Management of Society Data
  6. Track Accounting of the Society
  7. Bank Statement View
  8. Mobile App for every resident
Society Insurance
(at special Discount covering these features)
  1. Fire and allied perils.
  2. Burglary.
  3. Directors and officer’s liability
  1. Fire and allied perils
  2. Burglary
  3. Directors and officers liability
  4. Public Liability
  5. Personal Accident for Society members
  1. Fire and allied perils
  2. Burglary
  3. Directors and officers liability
  4. Public Liability
  5. Personal Accident for Society members
  1. Home Content for all the flat owners
  2. Workmen’s Compensation

*For more information on Society Connekt Package Click Here

Documents required for account opening -
  1. Certificate of Registration of the Society
  2. Society Bye-laws
  3. Resolution passed by the members of the Society in the Annual General Meeting authorizing the members concerned to open and operate the account.
  4. Declaration - Annexure B (Available at Branch)
  5. Pan card
  6. GST Certificate (optional)
  7. Documents of the authorized signatories as mentioned below for Individuals 







    - One latest passport size photograph
    - Pan card
    -  Any of the below officially valid documents (OVD) should be accepted: proof of possession of Aadhaar/ Passport/Driving license/Voter's Identity Card/NREGA Job Card/ letter issued by the National Population Register.
If the address on OVD is different as that declared by him/her in the account opening form, utility bill/ property or Municipal tax receipt/ pension or family pension payment orders/ letter of allotment of accommodation from employer issued by State Government or Central Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions, and listed companies - Provided that updated OVD is submitted within a period of three months.
Service Charges
To know about services charges click here

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