Open Savings Account TMB : Tamilnad Mercantile Bank Ltd
Organization :Tamilnad Mercantile Bank Ltd
Facility :Open Savings Account
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Home Page : http://www.tmb.in/best_interest_rates/best_indian_bank_offering_high_interest_rates_for_nri_deposits.html
Download Form here :http://www.tmb.in/savings_basic/find_the_features_of_our_operative_savings_account.html
Open Savings Account
This is the basic starting point for the urban and rural masses to start developing the habit of savings for a brighter future. It gives the customers the benefit of having the convenience of withdrawing money anytime anywhere as well as get good interest on the savings at the same time.
Related : TMB Navarathnamala Deposit Scheme : www.statusin.in/864.html
Further routine payments can be automatically made by giving standing instructions to the bank. Nomination and Power of Attorney facility is also available.
Now your basic savings account is Anywhere Banking enabled. So enjoy the economy of a basic savings account and the benefit of any where bankable savings account.
Product Highlights :
Minimum Average Balance (MAB) :
** With Cheque Book : Rural Rs. 250.00 / Others Rs. 500.00
** Without Cheque Book : Rural Rs. 100.00 / Others Rs. 250.00
Charges for non maintenance of MAB :
** With Cheque Book : Rs. 25.00 Per Month
** Without Cheque Book : Rs. 15.00 Per Month
Cheque Book Issue charges :
** Rs. 2.00 per leaf. First 20 cheque leaves free. Folio charges for 6 Months
** Free Cash Remittance Limit – Parent / Satellite Branch
** Free up to Rs. 3,00,000.00 per day thereafter Rs. 1.50 per Rs. 1,000.00 for SB A/c with Monthly Average Balance (MAB) of previous month less than Rs. 10,000.00. Free for any amount with MAB of previous month Rs. 10,000.00 & above Cash withdrawl at Satellite Branch
** No Limit for Self Withdrawl by cheque only. Third Party Limit Rs. 10,000.00.
ECS Debit Mandate Cancellation Charges :
Rs. 100.00 per ECS Mandate Cancellation.
Issue of Duplicate Statement :
Rs. 25.00 per Ledger Folio. Minimum Rs. 25.00 + postage if any.
Issue of loose cheque leaves :
Rs. 25.00 per leaf.
Issue of duplicate pass book :
Rs. 25.00 per passbook with an additional charge of Rs. 5.00 per ledger folio (40 entries) there of.
Rules & Regulations :
** As per the extant Reserve Bank of India (RBI) guidelines, which are mandatory, photographs of all applicant(s) / Power of Attorney holders (i.e. who are authorized to operate the account(s)) should be furnished to the bank.
** As per extant Government of India (GOI) guidelines, PAN / Form No.60/61 (Where PAN is not available) is required to be furnished.
** Savings Bank A/c (SB A/c) can not be opened for business purposes as per RBI directives and hence SB a/c should be used to route transactions of only nonbusiness/ non-commercial nature. In the event of occurrence of such transactions or any other suchtr ansactions that may be construed as dubious or undesirable, the Bank reserves the right to unilaterally freeze operations in such accounts.
** The balance in the special type of account must adhere to the minimum monthly / quarterly average balance stipulation laid down by the Bank and communicated to you at the time of opening of the account. Nonm- aintenance of such monthly/quarterly average balance will attract applicable penalty on a monthly / quarterly basis and on a date determined by the bank.
** If there is no transaction by the account holder in the accouncto ntinuously for 24 months, the account automatically gets classified as a ‘dormant / inoperative account’ whereupon further debit / credit transactions are not permitted in the ordinary course. A request for activation of the account has to be made by the customer and the customer is subject afresh to KYC Compliance.
** Satisfactory conduct of the account entails maintaining sufficient balance to honour cheques issued to third parties. If there are high incidences (i.e. more than 3 cheque returns for want of funds) to the contrary, the Bank reserves the right to close the account under intimation to the customer.
** Any special instructions, both financial and non-financial in nature, like standing instructions, stop payment instructions, issuance of cheque books, issuance of duplicate ATM Cards /PIN etc. must be communicated in writing. Otherwise, it shall not be binding on theB ank to comply with such instructions.