| Eligibility |
|
|
 Accounts
can be opened in the name of students who have attained
the age of 10 years and above, studying at VARIOUS RECOGNISED
EDUCATIONAL INSTITUTIONS.
|
| Initial
Deposit Amount/ QAB/Minimum Balance Required |
|
| Zero
|
| Overdraft
Facility |
|
The
overdraft facility shall be given to students (of reputed
educational institutions only) who are staying away
from their parents. It would be made available on the
request of the student with the UNDERTAKING TO PAY/
CONSENT LETTER from earning parents/natural guardian/local
guardian of student. In the first year of opening of
account, the facility would be available up-to a maximum
limit of Rs.5,000/-. Subsequent to the satisfactory
conduct of the account, in second year it could be enhanced
upto Rs. 10,000/-. Other terms & conditions of this
overdraft facility would be as under:
|
Rate of Interest |
The overdraft facility
would attract at the rate of interest as applicable
to Personal Loans to the general public. |
|
Age of Student |
The overdraft facility
would be available for the students, having completed
the age of 18 years |
|
Purpose |
Contingent day to day
needs of those students who are staying away from their
parents for the study purposes having got an admission
with recognised and reputed educational institutions. |
|
Repayment |
For repayment purposes,
a single post dated cheque must be obtained from earning
parents/natural guardian/local guardian of student and
kept on record. |
|
Recovery Aspects |
The overdraft facility
must be brought into credit once in 3 months, failing
which recovery process be started. The facility would
be recalled and the student would not be eligible for
this overdraft facility at any branch of our Bank. In
any case, this facility should not be allowed to continue
when the student is in the final year of study at that
educational institution, i.e. account has to be got
into credit at least six month before the expiry of
the tenure of the study period without any further continuation
of overdraft facility.
|
| Attractive
Freebies/Concessions |
|
The
following freebies are also admissible:
|
Demand drafts for all types
of fees/examination
fees |
Free
of cost |
|
Initial Deposit Amount |
The
account will be opened without any initial deposit,
i.e., it will be Zero Balance Saving Fund Account |
|
Incidental Charges |
NIL |
|
Ledger Folio Charges |
NIL |
|
Retail Internet Banking Services |
Free
(at CBS branches only) |
|
Intersol transactions including cash
withdrawal/deposits |
Free |
|
ATM Card/DEBIT CARD |
Free (subject to availability
of ATMs in the area) |
|
Cheque Book Facility |
Free (2 cheque books in
a year) |
| |
|
All
other guidelines of the Bank regarding photographs,
introduction, nomination facility, KYC norms, etc.,
as applicable to Savings Fund Account would also continue
to remain applicable to these accounts.
|
| |
