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Savings Bank Account (SBOGP)

Eligibility
  • Individuals either singly/jointly, Illiterate persons, Blind Persons, Hindu Undivided families (HUF).
  • Clubs/associations, which do not conduct business of commercial nature/business for profit.
  • Committees, Societies, Schools, Trusts, Executors, Administrators, Institutions/Agencies specifically permitted by the RBI.
  • SHGs/FPOs/Trusts/Govt. Departments.
  • Minors can also open SB account through his/her natural or legally appointed guardian
  • Minors above the age of 10 years may be allowed to open in their own names and operate Savings Bank Accounts independently, if they so desire. Date of Birth & Study Certificate issued by Head Master in which he/she studying along with residential Proof of Guardian shall be obtained
Minimum Balance (in Rs)
Category Rural S-Urban Urban Metro
With CHQ book 1000 1000 2000 2000
Without CHQ book 500 1000 1500 1500
Type of ATM/Debit card RUPAY & PLATINUM Debit Card
Debit Card charge Issue charge – FREE
Reissue Charge
Normal Debit Card 150 + GST
Platinum Debit Card 300 + GST
Annual maintenance charge
From 2nd year Onwards
Normal Debit Card 125 + GST
Platinum Debit Card 250 + GST
Access to APGB ATM No Charges upto 8 transactions per month, Beyond this limit, Rs.23 per one financial transaction & Rs.10 per Non-financial transaction + GST
Access to other bank ATM No charges up to 5 transactions (financial + non-financial) per month in Non- Metro centers and 3 transactions (financial + non-financial) per month in Metro centers.
Beyond the above mentioned limits, Rs.23 per one financial transaction & Rs.10 per Non-financial transaction + GST
ATM Cash Withdrawal Limit Rs. 10,000/- Per Trxn with a total limit of Rs. 25,000/- per day. For Platinum Card holders limit is Rs. 50,000/- per day. Per TXN limit is Rs. 10,000/-.
POS Limit For Normal Card holders the limit is Rs. 75,000/- Per day (inclusive of ATM limit of Rs.25000/-). For Platinum Card holders the limit is Rs. 125,000/- Per day ( inclusive of ATM limit of Rs.50,000/-).
SMS Banking Charges No charge for No frill accounts, Accounts of Staff and Retired Staff of APGB. All other accounts will levied with Rs.20/- per quarter
Cheque leaves including Personalized Cheque Leaves One Cheque Book upto 25 leaves is free per Account. Beyond that, Rs.5.00 per leaf will be charged.
DD As per applicable charges
NEFT/RTGS/IMPS As per applicable charges.
Account closure -within 12 months of opening All the charges are exclusive of GST
Category Without Cheque Book With Cheque Book
Rural 150 200
Semi-Urban and Urban 200 250
Metro 250 300

Penalty* for Non-Maintenance of Average Quarterly Balance(AQB)

10 percent on shortfall amount to the monthly average balance to be maintained.
All the charges are exclusive of GST

Flexi Savings Plus Scheme

Name of the Product FLEXI SAVINGS PLUS SCHEME
SCHEME CODES Flexi Saving Plus Bank Accounts
SBFGP General Public, Senior Citizens, Super Senior Citizens and others i.e.; Corporates/Institutions/ Proprietorship/ Partnership/ Trust/ HUF.
SBFST Staff of the Bank
Flexi Fixed Deposit Accounts
FDFGP General Public and others i.e.; Corporates/Institutions/ Proprietorship/ Partnership/ Trust/ HUF.
FDFSP Senior Citizens
FDFSC Super Senior Citizens
FDFST Staff of the Bank
FDFRS Retired Staff Senior Citizens
FDFSS Retired Staff Super Senior Citizens
Nature of deposit Which gives twin benefits of liquidity as well as high returns. This scheme will meet the demands of High Net worth customers of the Bank.
Eligibility All Resident Individuals/ Corporates/Institutions/ Proprietorship/ Partnership/ Trust/ HUF.
Deposit amount Minimum balance of Rs.25000/- shall be maintained in the SB account. Balance available in SB account over and above Rs.25000/- on any day will be automatically swept-out into a fixed deposit of 180 days term in units of Rs.1000/- each
Minimum monthly average Balance Rs.25,000/-
Charges for non-maintenance of MAB 10 % on shortfall amount to the monthly average balance to be maintained+ GST
Rate of Interest On available balance in savings Plus Account- as applicable to Savings Bank Deposit.
For Flexi Term Deposits– as per the prevailing rate of interest for 180 days
Additional Interest rate OSenior Citizens, Super Senior Citizens, staff and Retired Staff Senior Citizens, Retired staff Super Senior Citizens are eligible for additional Rate of Interest as per guidelines in force
Other guidelines
  • In the event of shortfall in the relative SB account due to drawal of fund, then the fixed deposit will be swept back into the SB account in required number of units on the basis of ‘LAST IN FIRST OUT (LIFO)’.
  • No penalty will be levied for premature closure of FD account for bringing the balance in SB account to minimum level.
  • The Deposit swept back into SB, if it has remained in FD for more than 15 days, shall earn interest as per the prevailing rates for FDs for completed period and for less than 15 days shall earn interest at the applicable Savings bank deposit rate.
  • Even while breaking the Fixed Deposit, only the most recently converted fixed deposit will be broken first to minimize the interest loss to the customer.
  • When the Fixed Deposit matures at the end of 180 days, it will automatically renew the principle for next 180 days term, simultaneously crediting the interest to the Savings Bank account of the customer
Monthly statement No charges once in a month and thereafter applicable charges levied.
Cheque Book One Cheque Book up to 25 leaves is free per Account. Beyond that, Rs.5.00 per leaf will be charged.
Nomination facility Nomination facility is available
TDS Interest Income is liable for Tax as per the IT Act.
Annual Debit Card Charges Issue charge – Free
Reissue Charge
Normal Debit Card 150+GST
Platinum Debit Card 300+GST
Annual Maintenance Charge (From 2nd year Onwards)
Normal Debit Card 125+GST
Platinum Debit Card 250+GST
Mobile banking Free
Internet Banking Facility Free
Loans on deposit Not available
Home branch change Not available (SOL ID cannot be transferred)

RD Plus Deposit Scheme (RDPLS)

Name of the Product RD Plus Deposit Scheme (RDPLS)
Eligibility All Resident Individuals/Corporates/Institutions/ Proprietorship/ Partnership/ Trust/ HUF.
Period Minimum 6 Months and Maximum up to 120 Months
Amount of Installment The installment should be in multiples of Rs.100/- subject to a maximum of Rs.1,00,000/-. The depositor can choose the “Core Installment” at the time of opening the account. The monthly installment cannot be below the core installment amount chosen at the time of opening the account.
Step Up Option The depositor will have the option to step up the monthly installments subject to the minimum and maximum prescription as per the following guidelines:

The depositor can step up the installments upto 10 times of Core amount during any or all months before maturity of the deposit. Such amounts can be deposited in the account any number of times during the month’s subject to the following conditions:
  • Total amount so deposited during a month shall not exceed 10 times of the Core Installment amount
  • The amount of deposits made during a month shall not be less than the Core Installment amount
  • If a depositor opening the account with Core Installment amount of Rs.100/-, shall not deposit installment aggregating to more than Rs.1,000/- in any month and with Core Installment amount of Rs.1,00,000/- shall not deposit installments exceeding Rs.10,00,000/- in any month.
Interest Frequency Quarterly compounding (on daily product basis)
Rate of Interest As applicable to Term Deposits based on Term period * (Interest will be calculated on daily product basis with quarterly compounding rests).
  • For Senior Citizen an additional 0.50%(50 bps) over and above applicable RoI to General Public.
  • For Super Senior Citizen an additional 0.75%(75 bps) over and above applicable RoI to General Public.
  • For Staff additional 1.00%( 100bps) over and above applicable RoI to General Public.
  • For Staff Senior Citizen an additional 1.50%(150 bps) over and above applicable RoI to General Public.
  • For Staff Super Senior Citizen an additional 1.75%(175 bps) over and above applicable RoI to General Public.
Penalty No penalty for delayed payment of installment.
Nomination facility Applicable as in the case of other deposits.
TDS Interest Income is liable for Tax as per the IT Act.
Automatic Renewal Facility No Automatic renewal, no extension of term available. Conversion can be made after maturity/as requested by customer with applicable interest rate for the period.
Loan on Deposit The Depositor can avail loan on this deposit as per the rules of the Bank.
Penalty for Premature Closure 1.00% for the deposits with principal amount of above Rs.5.00 lakhs.
Other Guidelines Senior Citizens, Existing and Retired Staff are eligible for additional Rate of Interest as per guidelines in force.
Free Fund Transfer
  • No service charge for standing instructions to transfer monthly installments from operative accounts of the account holders. Similarly, depositor can emit monthly installments, free of cost, from any of the branches under Core Banking Solutions.
  • Standing instruction is available for Core instalment amount only.
Transfer of Accounts In view of the complexity in the scheme, transfer of accounts is not permitted./SOL ID cannot be transferred

APGB - NRE Savings Bank Account (SBNRE)

Name of the Product APGB - NRE Savings Bank Account(SBNRE)
Scheme Name SBNRE
Eligible Customers NRIs/PIOs
KYC to be submitted
  • A Valid Passport copy
  • PAN Card
  • Proofs of India and Overseas Addresses.
  • Aadhaar Card Issued By UIDAI
Joint Account
  • In the name of two or more NRIs and/or PIOs
  • With relative(s) on ‘former or survivor’ bas is – resident relative shall be eligible to operate the account as Power of Attorney holder.
Interest Rate As applicable to savings bank interest rate
Permissible Credits
  • Remittances to India, Traveler Cheques, drafts payable in any permitted currency
  • Transfers from other NRE accounts.
  • Personal Cheques drawn by the account holder on his foreign currency account.
  • Credits during his/her temporary visit to India.
  • The Traveler Cheques (In case of issued outside India) / drafts are standing / endorsed in the name of account holder only when bank/branches are satisfied with account holder is still resident outside India.
  • Maturity or sale proceeds of any permissible investment in India, which was originally debited from NRE’s account or remittances, received through other Banking channels. (Investment should be made under Foreign exchange regulations).
  • Refund of share/ debenture subscriptions through other NRE account / Banking Channel.
  • Refund of Application /earnest money / purchase consideration made by house building agencies / seller on account of non- allotment of flat/ plot / cancellation of booking / deals for purchase of residential/ commercial property together with interest.
  • Any other credit if covered under general or special permission granted by the RBI.
Permitted Debits
  • Local Disbursements and Remittances outside India.
  • Transfers to NRE accounts either self or any other.
  • Investment if Shares/ securities / commercial papers
  • Purchase of immovable Property in India.
  • Any other debit if covered under general or special permission granted by the RBI.
Nomination facility Available. (Either Non-resident/Resident)
*In case of resident nominee, consideration is required from RBI to meet liabilities outside India against deceased account holder.
Marking of Lien No lien should be placed either directly or indirectly against NRE saving deposits
Minimum Balance Charges Applicable as per Saving Bank Accounts on minimum of AQB
Account Closure Charges As per services charges in force.

APGB - NRO Savings Bank Account (SBNRO)

Name of the Product APGB - NRO Savings Bank Account(SBNRO)
Scheme Name SBNRO
Eligible Customers NRIs/PIOs
KYC to be submitted ( Copy)
  • A Valid Passport copy
  • PAN Card
  • Proofs of India and Overseas Addresses.
  • Aadhaar Card Issued By UIDAI
Joint Account Permitted with Resident Indian or NRIs/PIOs
Interest Rate Savings bank interest rate as mentioned deposit rates subject to credit at quarterly intervals.
Permissible Credits
  • Proceeds of remittances received in any permitted currency from outside India through banking channels or any permitted currency tendered by the account holder during his temporary visit to India or transfers from non-resident banks.
  • Legitimate dues in India of the account holder
  • Transfers from other NRO accounts
  • Any amount received by the account holder in accordance with the rules or regulations made under FEMA and RBI regulations.
Permitted Debits
  • All local payments in rupees including payments for investments subject to compliance with the relevant regulations made by the Reserve Bank
  • Remittance outside India for current income in India of the account holder net of applicable taxes.
  • Transfer to other NRO accounts.
  • Settlement of charges on International credit cards issued by the authorized dealer /banks in India to NRIs or PIOs, subject to the limits for repatriation of balances held in NRO accounts specified in regulation 4(2) of FEM (Remittances of Assets) Regulations, 2016.
TDS The interest earned is subject to tax as per IT act.
Nomination facility Applicable (Either Resident / Non-resident)
* Payable to NRO account in case of Non-resident Nominee.
Operation by Power of Attorney
  • All local payments in Rupees for eligible investments
  • Remittance outside India of current income in India of the non-resident individual account holder, net of applicable taxes.
  • Shall not repatriate, make payment by way of gift, and transfer to the NRI account.
  • Any remittance outside India shall be within the ceiling prescribed by the bank from time to time and subject to tax compliance.
Risk on Exchange Borne by the Depositor
Change of Residential Status to NRO A person can change existing account to NRO when he leaves India for country (Other than Nepal Or Bhutan) for a uncertain period (vice – versa).
Minimum Balance Charges Applicable as per Saving Bank Accounts on minimum of AQB
Account Closure Charges As per services charges.

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