Beti Bachao Beti Padhao

Minimum balance in the account

Minimum balance should be maintained in the account ON MONTHLY AVERAGE basis. IF monthly average minimum balance in the account is not maintained, service charges will be levied once in every month.

Please click here for details of minimum balance and charges. 

Minimum balance condition is not applicable for 'Pension' and 'No Frills' category accounts 

Nomination

Nomination facility is available.

Interest

Bank will pay interest on DAILY PRODUCTS in the account (i.e. on daily balance) on quarterly basis payable on end of every quarter. Present interest rate is 4.0% p.a. simple.

Other Benefits

  • The account holder/s can give standing instructions for transfer of funds from the account to any another account/s, make payment of electricity bills, Insurance Premium, Telephone bills, taxes, loan installments etc. Charges applicable are furnished in Service Charges Schedule available in every branch and also on Bank's website.
  • Telebanking facility, SMS Banking facility, Mobile banking facility and Internet Banking are available.
  • TDS is not applicable for interest earned on the account.
  • Free Mahabank VISA ATM/Debit Card.
  • Deposit Insurance Cover upto Rs. 1.00 lac.

Document Required Savings Bank Account