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You are here: Personal Banking > Accounts & Deposits > No Frills Savings Account > Eligibility         

No Frills Account India
Features and Benefits
Eligibility
Fees & Charges
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No Frills Account India
Eligibility & Account Operation

The following are eligible to open a 'No Frills' Savings Account:
Resident Individuals (sole or joint account).
Hindu Undivided Families.


Account Operation

No Initial Payment is required to open a 'No Frills' account and No Average Monthly Balance needs to be maintained.

Eligibility Criteria

Customer can open a No Frills Savings account if he:

  Does not have a bank account & has an annual income of less than or    equal to Rs. 50,000/- or

  Does not have a bank account & is a beneficiary under a Government    Welfare Scheme

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