Pradhan Mantri Jan Dhan Yojana

From Debit cards, to SMS banking and additional benefits from the Government of India, at zero balance requirement, the Jan Dhan Yojana has the best facilities to offer. Any branch banking and the inbuilt accident cover serve as the cherry on the cake for this exciting Saving scheme.

Eligibility:

(i). Individuals above the age of 10 years can open this account under any of the following Account Types:
a. Individual
b. Joint
c. Minor by guardian (upto date of majority)
(ii). The individual should not have account under PMJDY scheme with any of our branches or any other Bank ( Annexure A

to be obtained).

Initial Deposit & Minimum Average Quarterly Balance:

NIL

Rate of interest:

3.00% p.a. with quarterly rest (w.e.f. 01.06.2020)

Special Facilities:

Issuance of Rupay debit cards (AMC waiver for 1st year) to individuals/joint accounts will be as per the existing practice applicable to Regular Savings account.Personal Accident Insurance cover of Rs. 2 lakhs. Features of Rupay debit card as displayed on website www.saraswatbank.com will be applicable.
Facility of Any Branch Banking.
Direct benefit transfer to receive Govt. subsidies.
No Internet banking, Mobile banking and Cheque book facility.
Overdraft limit up to Rs.10000/- to eligible account holders after 6 months of satisfactory operations. (Personal loan scheme norms will be applicable).

(For more Information pertaining to Overdraft Limit - write to us on customerservicecentre@saraswatbank.com)

Mode of Holding:

Single or Joint

Service Charges:

No minimum balance charges applicable
No limit on the number of credit transactions during a month.
No charges will be applicable for nonoperation of account or activation of an inoperative account.
First 5 financial transactions per month are free at our banks ATM. Thereafter Rs 10/- +GST per financial transaction. Non-Financial ATM transactions are free.
Maximum of 4 debit transactions are allowed per month free of charge to the customers for cash withdrawals at branch. Thereafter, cash withdrawals at branch will be charged at Rs.10/- plus service tax per transaction.
3 free transaction in Metro and 5 free transactions (financial and non-financial) in non-metro per calendar month on other Bank ATMs. Thereafter, transactions at other Bank ATMs for cash withdrawal will be charged at Rs. 20/-+GST for financial transaction and non-financial transaction will be charged at Rs. 10/- plus GST.
No charges for account closure.

Other Points:

Holders of PMJDY Savings Account with one branch will not be eligible for opening another PMJDY Savings Account at any other branches of our Bank or with another Bank. A declaration from the customer is required as per Annexure A .
If an individual has an existing live Savings Account (other than PMJDY) in our Bank, then the branch will not be allowed to open his account under product code SBPMJD.
The officially valid documents applicable for regular savings account and a declaration from the customer is required as per Annexure A .