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You are here: Personal Banking > Accounts & Deposits > SavingsMax Account > Eligibility         

Savings Max
Features and Benefits
Eligibility
Fees & Charges
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Savings Max
Eligibility & Account Operation

The following are eligible to open a SavingsMax Account:
Resident Individuals (sole or joint account).
Hindu Undivided Families.
Foreign Nationals residing in India*.
If you are a Foreign National residing in India, you may open a Savings Account by temporarily attaching an undertaking (QA 22 form), stating sources of credit and a copy of your Residence Permit.


Account Operation

A minimum deposit of Rs. 25,000/- is required to open an account and thereafter an Average Monthly Balance(AMB) of the same amount has to be maintained.
If the AMB in the SavingsMax a/c >= 25,000/- , no AMB non-maintenance charges will be levied.
If the AQB in the SavingsMax a/c falls below 25,000/- the following charges would be applicable:

If AMB in the account is between Rs 10,000/- to Rs 25,000/ - Rs 350 per month would be levied
If AMB is less than Rs 10,000 Rs 500 per month would be levied
Transaction charges applicable in case the specified AMB is not been maintained in the previous month.
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