The main objective of Savings Deposit Account, which is also known as Saving Bank Account is to inculcate the habit of savings and thrift among individuals, housewives, family members of businessmen, etc.

Eligibility:

1. Savings Deposit Account can be opened by: -

   1. Individual, singly or jointly with other individuals;
   2. Associations, clubs, societies and similar other non-profit making institutions for the purpose of depositing their savings provided their bye-laws/rules/resolutions, etc. are found acceptable and are strictly adhered to;
   3. Minors or on behalf of minors by their guardians;
   4. No accounts will ordinarily be opened in the names of business organisations and Government Departments. However, only in exceptional circumstances, specifically approved by the Managing Director, Savings Deposit Accounts may be opened in the names of companies, corporations, firms, trustees, etc.
   5. Savings Deposit Accounts may be opened in the names of individuals in the following manner: -
      1. In the name of a person;
      2. In the joint names of two or more persons and payable to:
         1. both or all of them or the survivors/survivor of them
         2. either or any or some of them (including former or latter) and their survivors/survivor.
2. Accounts may also be opened for or on behalf of minors under the guardianship of their natural/court appointed guardians. Parents may also open a joint account with their minor child/children. Children above 14 years of age may also be permitted to open a Savings Deposit Account in their own names.

Documents required for opening of New Account:

For Individual Account	A Citizenship Identity Card photocopy. An introduction by our Bank's Saving/Current Account holder. Two Passport Size Photographs.
For Minor Account	A Citizenship Identity Card photocopy (Parents/Guardian). An introduction by our Bank's Saving/Current Account holder. Two Passport size photographs of Parents/Guardian.
For Trusts/ Business Organisations/ Govt. Depts.	Copy of the Trust Deed Copy of the registration certificate Copy of the Resolution of The Trustees Authorising the members concerned to open and operate the account Photographs of the members operating the account
Minimum Balance	With Cheque facility - Nu.500/- Without Cheque facility - Nu.200/-

Interest Rate:

1. The prevailing rate of interest on Savings Deposit Account is 4.5% per annum.
2. No interest will be paid on balances exceeding Nu.700,000/-.
3. No interest will be paid when there are more than 4 withdrawals in a month.

Service Charges:
Service charges will be charged when the balance in an account falls below the required minimum balance as under:

1. For Cheque Facility Account: Nu.30/-
2. For Non-Cheque Facility Account: Nu.20/-

Dormant Account:
Savings Deposit accounts are treated as dormant in case there are no operations i.e. debit or credit entry for 1 year and more. A service charge of Nu.50/- will be charged every year on such accounts

Pass Book:
The bass book is issued to the depositor in which all transactions passing through the account are recorded. The purpose of issuing a passbook to the customer is to acquaint him/her periodically with the state of affairs of his/her account with the Bank.

No charge will be made for the passbook supplied to a depositor or for any passbook issued in continuation of the original passbook. However, in case a pass book is lost or spoiled, the depositor will be charged Nu.20/- for a duplicate passbook.

The passbook must be presented for all withdrawals other than by cheques. Deposits into the account may be made without production of passbook, but it should be presented to the Bank for completion as soon as possible.

The depositor should carefully examine the entries in the passbook and discrepancies, if any, should be immediately brought to the notice of the Bank. The account holder should also see that an authorised official of the Bank authenticates the entries in the passbook.

Depositors should keep the passbooks in a safe place. Any change in address should be immediately notified to the Bank.

Deposits:
Deposits may be made with a Pay-in-Slip duly completed. The authorised counter foil of the Pay-in-Slip will be returned to the depositor.

Cheques, drafts, dividend warrants and other such instruments drawn in favour of the depositor or bearer may be deposited for collection and credit to the depositor's account. Withdrawals against these deposits will not be permitted until the proceeds have been cleared.

Withdrawals:
A depositor wishing to withdraw money, other than by cheque, can do so by presenting his/her passbook personally along with a withdrawal order form duly completed. The withdrawal order forms can be obtained at the Bank.

Savings Bank Accounts should not be used as Current Accounts, in case the Bank has reason to believe that a Savings Account is being used for a purpose for which it is not intended, the Bank will be at liberty to close the account.

Cheque Books:
To enable customers to withdraw money or make payments to third parties, the Bank supplies Chequebooks containing printed cheque leaves to customers except illiterate account holders. Cheques should be kept under lock and key and should inform bank in case of theft or misplaced.

Cheque Book Charges:

1. Cheque Book Charges: Nu.20 per Book
   *For fresh accounts, the 1st and only one cheque book will be provided free.

Loss of Cheque Book:
A depositor has to pay the above Cheque Book Charges for issuing a fresh chequebook in case the chequebook already issued has been reported lost/misplaced/stolen.

Stop Payment:
Customers may stop the payment of blank cheques or cheques already issued by them if these are lost, misplaced, removed by theft or for other reasons. It is our duty to endeavour that the interests of our customers are safeguarded. Stop payment charge of Nu.50/- shall be levied for every stopped cheque.

Standing Instruction(SI):
SI refer the instruction given by customers to the Bank to undertake certain transactions weekly, fortnightly, monthly, quarterly, half-yearly or annually on their behalf. However, customers should make sure that their account has sufficient balance to carry out the instructions. No charge/additional charge will be made for noting standing instructions. Our usual charges while undertaking SI, like exchange on drafts, postage etc. would however, be recovered from the account along with the amount remitted or transferred.

Account Transfer:
Free account transfer facility is available between our vast networks of branches. However, the depositor is requested to surrender his/her passbook and unused chequebook along with a written application to transfer his/her account to another branch of our Bank.

Account Closing:
A depositor wishing to close his account can do so by surrendering the passbook and unused chequebook along with a written application to the Bank.

For further information, please contact our nearest branch.