Topic
Regular Savings Account in the following
banks
1. ICICI Bank
2. One Public Sector Bank
3. One Private Sector Bank
4. One Co-Operative Bank
Presented By: Voram Soumya, Divya Bathula, Divya
Badavath, Swathi Sripathi
Centre: Hyderabad
SAVINGS ACCOUNTS
A Savings account is a bank account at a retail bank where you can deposit
money as per your convenience, keep it safe, withdraw funds, earns interst.
Features of Saving Account:
The base for carrying financial transactions.
Maintaining minimum average balance.
Passbook and cheque facility.
Accessible for all age groups.
ATM facilities.
Net banking and mobile banking.
Saving interest rate.
(Here are some saving account products of different banks)
ICICI REGULAR SAVINGS ACCOUNT
ICICI bank experience the convience of anytime, anywhere banking
with ICICI bank regular savings account.
Do routine transactions such as bill payments fixed deposit(FD)
creation requests and balance enquiry through multiple channels
such as internet banking, mobile banking or customers care.
Minimum balance for ICICI savings accounts, for metro and urban
locations Rs.10,000 , for semi urban Rs. 5,000 , for rural locations
Rs. 2,000.
Benefits:
Debit card benefits: Which can be used to withdraw cash from
ATM withdrawal limit as per your account variant.
Maximise yours returns: Earn higher interst by setting a balance limit
above which money in savings account will get converted into FD.
Conveient Banking: Do your banking from anywhere through internet
banking, mobile banking, ATM.
Eligibility: Saving Account is available for resident individual(sole or
joint). Foreign national and HUF customers who are above 18 years, for
below 18 years can open a young stars saving account. For above 60 years
can open a seniors club savings account.
Nomination facitity: You may nominate a persons as benificiary to your
account.
Savings account portability: You can request for transfer to your savings
account from one branch of ICICI bank to another through internet
banking.
Interest rate
ICICI bank gives the interest rate varies from 3% to 3.5% on the minimum
average balance maintained in the savings bank account.
For below Rs.50 lakhs interest rate is 3%.
For Above Rs.50 lakhs interest rate is 3.5%.
PUBLIC SECTOR BANK (SBI)
State Bank of India(SBI) is an Indian multinational public sector banking.
SBI regular savings account:
Currently, SBI savings bank account customers need to maintain an average
monthly balance of Rs. 3000 in metro, Rs. 2000 in semi urban and Rs. 1000
in rural areas.
Futher the bank used to levy a penalty of Rs. 5 to 15 taxes on non-
maintenance of average montly balance as stated above.
Benefits of SBI savings account:
Internet banking, mobile banking, kiosk banking.
Transfer accounts to any SBI branch without changing the account number.
Pass book issued free of charge.
Multicity Cheques.
Safe deposit lockers.
Personal accident insurance available of a nominal person.
No inter core charges for transfer transcation.
Multiple variants of ATM, debit cards like gold card, international
Atm/debit card, etc.,
Can be linked to multi option deposit(MOD) account.
INTEREST RATE ON SBI SAVINGS BANKS:
Particulars Rate of interest
Savings Deposit Balance up to Rs. 1 2.70% p.a
lakh
Savings Deposits Balance above Rs. 2.70% p.a
1 lakh
PRIVATE SECTOR BANK (HDFC)
HDFC Bank, India’s leading private sector bank, offers online net banking
services personal banking services like Accouts & Deposits, Cards, Loans.
Regular Savings Account:
Currently HDFC bank account customers need to maintain minimum
balance 10,000/- (In metro/urban) Rs. 5000/- (in semi-urban branches) &
Rs. 2,500 (rural branches)
The type debit card is international debit card.
Eligibility criteria:
Sole of joint account for resident of India.
Hindu Undividend Families can open.
Foreign nationals who reside in India.
Benefits of HDFC saving account:
Following are the various benefits of savings account.
Provides you liquidity
Provides safety
Earn Interest upto 7%
International debit cards
Online transactions facility
Track your transaction online
Easy to open
HDFC Savings Account Interest rate:
Savings account Interest Rate
Saving max account 3.00%-3.50%
Regular Saving account 3.00%-3.50%
CO-OPERATIVE BANK(KARUR VYSYA BANK)
Karur Vysya Bank is a Cooperative bank In India. It is also called as a
Scheduled commercial bank in India.
Regular Savings Account:
Karur Vysya Bank savings bank account is intended for saving for future.
In short Term savings accounts can be a great way to save up money for an
emergency.
Opening a Savings account with karur vysya bank is a convenient and
simple process thanks to their online account opening option.
You can make an online account opening requested by visiting the banks
website.
Click on the “Online Account Opening Request” tab for details on applying
online.
Benefits of Karur Vysya Bank:
o Can be opened in the names of individuals single/jointly/with either
surviovor options.
o Free Debit card, Internet banking KVB lite mobile banking facilities.
o Nomination facility available.
o If a person attains 60 years he will enjoy the befenit of a senior citizen
account.
Eligibility:
Individuals- single accounts
2 or more individuals joint account
Minors
Blind persons
Illiterate Persons
HUF
Trusts
Executors and administrators
Government Bodies
Semi-Govt Departments
Minimum Balance Required:
Freedom saving account is Rs. 5,000, for students savings is NIL, rainbow
savings is Rs. 3,000.
Interest Rate:
Amount Interest rate
Upto Rs. 1 Lakh 3.00%
Above Rs. 1 Lakh 3.50 %
