Utkal Grameen Bank Savings Account

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      Utkal Grameen Bank Savings Account

      Utkal Grameen Bank Savings Account

      Procedures are being simplified, and credit is being delivered on schedule. Upgrading technology to provide consumers with a one-stop-shop.

      Features and Benefits of Utkal Grameen Bank Savings Account

      The aim of this program is to give high-net-worth individuals the ability to invest the excess funds in their SB accounts in Term Deposits on an ongoing basis, i.e.Fixed Deposits with the ease of a savings bank.

      With effect from August 15, 2008, a new Recurring Deposit Scheme, Utsav Jama, was implemented to encourage thrift and provide credit to Recurring Deposit account holders for expenses related to various festivals.I Deposit Period: A 60-month fixed period (5 years) iii) Loan amount: After 12 months (1 year) of normal monthly deposits in an RD account, a loan of up to 150 percent of the principal amount of the deposit can be approved (without taking into Consideration accrued interest thereon).iv) Repayment period: Maximum of 12 Equated Monthly Installments or until the pledged RD Account matures, whichever comes first.

      Open a Savings Account in  Bank:

      Banks allow you to open a savings account as a sole holder or in a joint holding with multiple people. Joint accounts may have various holdings modes, such as “Anyone or Survivor,” “Joint,” and so on. In the case of joint possession, all applicants must complete KYC procedures.

      To open a savings bank account with Pandyan Grama Bank, you must first complete the following steps:

      • Go to the Utkal Grameen Bank  Branch in person.
      • You must go to the bank branch where you want to open an account.
      • For a savings account, complete the Account Opening Form (AOF).
      • Obtain the Savings Bank Account Opening Form and complete all of the necessary customer information and other details in the various parts of the prescribed form, such as name, address, contact number, email address, PAN, type of account to be opened, nominee’s name, and so on.
      • With the Account Opening Form, attach the Necessary (Mandatory) Documents (AOF)
      • Following the completion of the account opening form, you must insert KYC documents such as your PAN, proof of address, and proof of identity.

      Features and Benefits of  Utkal Grameen Bank Savings Account

      • With KYC proofs, an account can be opened with a minimum balance depending on the location (urban, metro, or rural).
      • Regularly, the deposit would receive 3.25 percent p.a. interest.
      • The aim of this program is to give high-net-worth individuals the ability to invest the excess funds in their SB accounts in Term Deposits on an ongoing basis, i.e.Fixed Deposits with the ease of a savings bank.With effect from August 15, 2008, a new Recurring Deposit Scheme, Utsav Jama, was implemented to encourage thrift and provide credit to Recurring Deposit account holders for expenses related to various festivals.I Deposit Period: A 60-month fixed period (5 years) iii) Loan amount: After 12 months (1 year) of normal monthly deposits in an RD account, a loan of up to 150 percent of the principal amount of the deposit can be approved (without taking into Consideration accrued interest thereon).iv) Repayment period: Maximum of 12 Equated Monthly Installments or until the pledged RD Account matures, whichever comes first.

      Utkal Grameen Bank Savings account Charges

      • Utkal Grameen Bank needs a minimum deposit of Rs.500 to open a savings account with a checkbook. A minimum average balance of Rs.500 must be maintained in such an account. The minimum amount needed to open a savings account without a checkbook in Pandyan Grama bank is Rs.100, and the minimum average balance required to maintain the account is Rs.100.

       

      Utkal Grameen Bank Savings Account Products

      Utkal Grameen Bank provides Fixed Deposit (FD) products with a variety of terms and interest rates, as well as a variety of other advantages such as a loan or overdraft facility against the Fixed Deposit. Pandyan Grama Bank makes it easy to open a Fixed Deposit Account.

      Utkal Grameen Bank Savings Account Welcome Kit

      After7–8 working days from the date of opening a specific savings account, Bank mails a Welcome Kit containing a personalized checkbook and ATM Card to the customers’ postal address chosen for correspondence.

      Utkal Grameen  Bank Documents Required to Open Savings Account

      Following Documents are required for opening a Fixed Deposit Account

      HUF, Proprietor, Person

      1. PAN and KYC (Know Your Customer) documents
      2. Photograph of passport size
      3. HUF Deed of Declaration

      Firm of Partnership

      1. Partnership documents (PAN and KYC)
      2. Deed letter from partners authorizing the account to be opened and operated
      3. Photographs of all partners in passport size PAN and KYC (Know Your Customer) documents a duplicate of the trust deed Copy of the Certificate of Registration A copy of the Trustees’ Resolution allowing the account to be opened and operated by the members concerned Photographs of the account’s administrators PAN and KYC (Know Your Customer) documents Board Resolution to open and run the account according to the Association’s Bylaws Photographs in passport scale PAN and KYC (Know Your Customer) documents Memorandum and Articles of Association Certificate of Incorporation Resolution of the Board of Directors to open and run the account Authorized signatories’ identification proofs Photographs of the directors in passport scale

      Savings Account Opening Process at Utkal Grameen Bank

      You must follow the steps outlined below to open a Fixed Deposit Account with Utkal Grameen Bank:

      • Go to the Pandyan Grama Bank Branch in person. You must go to the branch of Pandyan Grama Bank where you want to open your FD account.
      • Complete the Form for Opening a Fixed Deposit Account (FD-AOF)
      • Obtain the Fixed Deposit Account Opening Form and complete all necessary customer information and other details in the various sections of the prescribed form, such as name, address, contact number, email address, PAN, type of account to be opened, nominee’s name, and so on.

      Basic Savings Bank Deposit Account :

       

      01. The “Basic Savings Bank Deposit Account – A normal Banking service available to all :

       

      This account shall not have the requirement of any minimum balance.

      Deposit and withdrawal of cash at bank branches; receipt/credit of money via electronic payment channels; and deposit/collection of cheques drawn by Central / State Government agencies and departments will be among the facilities available in the account.

      Although there will be no cap on the number of deposits made per month, account holders will be limited to four withdrawals per month.

      2) Which of the following districts is administered by the STATE BANK OF INDIA?

      Bolangir is the district that is administered by the STATE BANK OF INDIA.

       

      For further information, please visit the official page of Dialabank

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