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Below are the types of accounts to open at The Haryana State Co-Operative Apex Bank Ltd and requirements for opening an account:
—-SAVINGS ACCOUNT
Opening Of Saving Bank Account
Any person approved by the bank may open the saving bank account agrreing upon to comply with the rules governing the saving bank account.
Only one saving bank account may be opened .
By a person in his/her own name.
By more then one person (but not more than four) in thier joint names
By the literate minor of age 14 years and above at the time of opening of the account.
By the natural guardian i.e father or mother on behalf of minor, or by a guardian appointed by court of law.
No saving bank account will be opened in the name of companies,corporations,firms etc.
An account may be opened with minimum of Rs.500 only in cash the same will be maintaned to keep the account running,balance less than Rs.500,account will be closed at the bank discretion.
The depositors may withdraw any amount any number of time subject to 120 withdrawals during the year. This rule shall not apply to institutions/clubs etc.
While opening the account, the customer has to fullfill the KYC norms by submitting all the necessary relevant documents i.e. 2 latest passport size photographs,any of one documents like electricity bill,ID card of reputed employer,Driving licence,PAN Card,Passport as identification proof and ID card of reputed employer,electricity bill,telephone bill,salary slip etc. as residence proof.
Interest rate of 3.5% per annum.
If there is no transaction in the account continuously for a period of 3 years, the account shall be deemed as inoperative and after 7 years the inoperative account will be transfered to unclaimed deposit account ledger.
CURRENT ACCOUNTS
Opening Of Current Bank Account
Any person approved by the bank may open the current bank account agrreing upon to comply with the rules governing the current bank account.
A person intending to open an account must be properly introduced by the current account holder known to the bank.
The current account can be opened in the name of individual in the single name,two or more individual in their joint name with surviour clause E or S/A or S/Jointly,sole proprietorship concern, Private/Public companies, institution, Trusts,Societies etc.
The current account cannot be opened by minor,illiterate and blind persons. However account of minor to be operated by natural guardian may be opened as per bank’s discreation.
Current account is a running and active account which may be operated upon any number of times during a working day. There is no restriction the number and amount of withdrawal.
An account may be opened with minimum of Rs.5000 only in cash after completion of all necessary formalities & KYC norms Rs.50 per transaction be deducted if balance is maintained less than Rs.5000.
No interest will be allowed on current bank.
Opening Of Fixed Deposit
In Fixed deposit scheme the amount deposited by the customer is invested for a fixed time/specific period, repayable on maturity/due date with agreed rates of interest, payable as simple interest either monthly or quaterly.
An account can be opened in the name of person in his own name or two or more persons in the name of institution,trust,societies, name of minor under guardianship of natural parents. .
The customer has to complete all the necessary formalities as well as fullfill the dcuments as per KYC norms i.e. 2 latest photographs, Address proof, Identification proof etc. as mentioned in saving schemes.
At present the rate of interest varies from 3.50% to 6.80% on different time periods which are reviewed from time to time.
0.50% & 0.75% additional rate of interest is allowed to the senior citizens and super senior citizens on term Deposits.
No interest is paid if the deposit remains with the bank below 14 days in case of premature withdrawl.
A customer can avail the loan facility to the extent of 85% of amount of FD.
No penalty shall be charged from the customer on amount withdraw prematurely but reinvested in the same branch for a period longer then the remaining period of origenal contract.
Opening Of Recurring Deposit
The bank is providing R.D. facility to its depositors to save at their convenience by paying a fixed sum of money every month for pre-determined period. The account can be opened by :-
A person in his/her own name.
By two or more persons in joint name with “E or S”/”A or S”/jointly clause.
On behalf of minor by guardian.
Minor aged of 14 years and above.
In the name of registered club, associative,educational institutions etc.
A depositor may have more then one R.D. account in his name or in the joint names with anothers.
The period of deposit is normally in the multiple of 12 months like 12,24,36 upto maximum period of 120 months.
The account will be opened after completion of all the necessary documents & fulfilling the KYC norms.
The installment for each calender month must be remitted on or before the last working day of that month, thereafter penal charges be imposed for the delayed period.
The rate of interest is same as that of FDR/RITD schemes.
The loan facility is extended against the R.D. upto the maximum of 85% of the amount at credit in the RD account.
Opening Of Re-investment Term Deposit
In RITD scheme the amount deposited by the customer is invested for a fixed time/specific period, repayable on maturity/due date with agreed rates of interest, payable as compounded interest quaterly.
An account can be opened in the name of person in his own name or two or more persons in the name of institution,trust,societies, name of minor under guardianship of natural parents.
The customer has to complete all the necessary formalities as well as fullfill the dcuments as per KYC norms i.e. 2 latest photographs, Address proof, Identification proof etc. as mentioned in saving schemes.
At present the rate of interest varies from 3.50% to 6.80% on different time periods which are reviewed from time to time.
0.50% & 0.75% additional rate of interest is allowed to the senior citizens and super senior citizens on term Deposits.
No interest is paid if the deposit remains with the bank below 14 days in case of premature withdrawl.
A customer can avail the loan facility to the extent of 85% of amount of RITD.
No penalty shall be charged from the customer on amount withdraw prematurely but reinvested in the same branch for a period longer then the remaining period of origenal contract.
Opening Of Amrit and Utsav Deposit Scheme
| Sr. No | Name Scheme | Rate of Interest | Scheme valid upto* | ||
| General Public | Sr. Citizen | Super Sr. Citizen | |||
| 1 | Amrit Deposit Scheme for 666 days | 7.25% | 7.75% | 8.00% | 31.03.2024 |
| 2 | Utsav Deposit Scheme for 444 days | 7.15% | 7.65% | 7.90% | 31.03.2024 |
“Hamari Bitiya” Deposit Scheme
| Sr. No | Particulars | FIXED DEPOSIT | RECURRING DEPOSIT |
| 1 | Eligibility: | Minors (Girls only) under guardianship of natural/ legal guardian. | |
| 2 | Tenure of Deposit | Minimum : 5 Years Maximum: 10 Years Note: The maximum age of the depositor at the time of maturity of such deposit can be upto 23 Years only. |
Minimum : 1 Year Maximum : 10 Years Note: The maximum age of the depositor at the time of maturity of such deposit can be upto 18 Years only. The last installment of RD will be one month before attaining age of 18 Years. |
| 3 | Amount of Deposits | Minimum Rs.10000/- thereafter, in multiples of Rs. 1000/-, however, maximum deposit accepted under the scheme shall be upto Rs.10 Lakh. | Minimum month Rs.500/- per month thereafter, in multiples of Rs. 100/-. |
| 4 | Rate of Interest | 7.25% p.a. compounded quarterly (subject to change from time to time to be reviewed annually or earlier.) | |
| 5 | Pre-mature Penalty | No penalty shall be levied if the premature withdrawal is done after expiry of 5 years Tenure. In case of pre-mature withdrawal before 5 years, the interest will be applicable as per card rates for the period the deposit remains with the bank and the penalty will be imposed as hitherto. | In case of pre-mature withdrawal, the interest will be applicable as per card rates for the period and deposit remains with the bank and the penalty will be imposed as hitherto. |
| 6 | Auto renewal | The auto renewal is permitted but the maximum age of the depositor at the time of maturity of renewed FD can be upto 23 Years only. Thereafter, it may be re-invested in General FD Scheme. | Maturity amount can be re-invested in “Hamari Bitiya Fixed Deposit” Scheme subject to fulfillment of terms & conditions. |
| 7 | Advances/Overdraft facility including Margin | 85% of the corpus at 1% higher rate of interest. | |
| 8 | Tax deduction at Source | Applicable, as per extant guidelines of the Bank/RBI. | |
| 9 | Nomination | Available, as per extant guidelines of the Bank. | |
| 10 | Special Benefit | Preference for Education Loan will be given to those depositors whose account is regular during the entire tenure of scheme. | |
“Hamara Ladla” Deposit Scheme
| Sr. No | Particulars | FIXED DEPOSIT | RECURRING DEPOSIT |
| 1 | Eligibility: | Minors (Boys only) under guardianship of natural/ legal guardian having maximum age of 13 years. | |
| 2 | Tenure of Deposit | Minimum : 5 Years Maximum: 10 Years Note: The maximum age of the depositor at the time of maturity of such deposit can be upto 18 Years only. |
Minimum : 5 Year Maximum : 10 Years Note: The maximum age of the depositor at the time of maturity of such deposit can be upto 18 Years only. The last installment of RD will be one month before attaining age of 18 Years. |
| 3 | Amount of Deposits | Minimum Rs.10000/- thereafter, in multiples of Rs. 1000/-, however, maximum deposit accepted under the scheme shall be upto Rs.10.00 Lakh. | Minimum month Rs.500/- per month thereafter, in multiples of Rs. 100/-. |
| 4 | Rate of Interest | 7.15% p.a. compounded quarterly (subject to change from time to time to be reviewed annually or earlier) | |
| 5 | Pre-mature Penalty | No penalty shall be levied if the premature withdrawal is done after expiry of 5 years Tenure. In case of pre-mature withdrawal before 5 years, the interest will be applicable as per card rates for the period the deposit remains with the bank and the penalty will be imposed as hitherto. | In case of pre-mature withdrawal, the interest will be applicable as per card rates for the period and deposit remains with the bank and the penalty will be imposed as hitherto. |
| 6 | Auto renewal | The auto renewal is permitted but the maximum age of the depositor at the time of maturity of renewed FD can be upto 18 Years only. Thereafter, it may be re-invested in General FD Scheme. | Maturity amount can be re-invested in “Hamara Ladla Fixed Deposit” Scheme subject to fulfillment of terms & conditions. |
| 7 | Advances/Overdraft facility including Margin | 85% of the corpus at 1% higher rate of interest. | |
| 8 | Tax deduction at Source | Applicable, as per extant guidelines of the Bank/RBI. | |
| 9 | Nomination | Available, as per extant guidelines of the Bank. | |
| 10 | Special Benefit | Preference for Education Loan will be given to those depositors whose account is regular during the entire tenure of scheme. | |
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