The following people are eligible to open a SavingsMax Account:

  • Resident Individuals (sole or joint account)
  • Hindu Undivided Families
  • Foreign Nationals Residing in India*
  • Minor above the age of 10 years are eligible to open self operated minor account and an ATM/Debit card can be issued to the Minor

*Foreign Nationals residing in India may open a SavingsMax Account by temporarily attaching an undertaking (QA 22 Form) stating their sources of credit with a copy of their residence permit

Balance Requirement

  • Average Monthly Balance (AMB) for Metro / Urban / Semi Urban/ Rural – Rs. 25,000 OR FD Relationship* of Rs. 1.50 lac in Metro/ Urban location | Rs.1 lac in Semi Urban / Rural location *FD should be booked from SavingsMax account and in name of the primary holder