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To make banking facilities available especially to the weaker sections of the society  , Saraswat Bank offers Janhit Account. Janhit account is a small account / no-frill account which can be opened for a  customer who is unable to produce any valid KYC documents .The Bank shall  open Janhit account subject to terms and conditions. The details of which are available under KYC-AML policy of the Bank.

Minimum Balance:

  1. The initial deposit amount required to open account would be Rs.250/-.
  2. Minimum Balance required to be maintained would be Rs.100/-.


Features:

  1. ABB transactions Not Allowed
  2. No cheque book facility
  3. Standing Instruction facility is not allowed.
  4. First 5 financial transactions per month are free at our banks ATM. Thereafter Rs.10/- +GST per financial transaction. Non-Financial ATM transactions are free.
  5. 3 free transactions in Metro and 5 free transactions in Non metro (financial and non-financial) free per month on other banks ATM.

Eligibility:

Individuals of small means who are unable to submit proper KYC documents.


Interest Rates:

Interest Rate: 3 % p.a. w.e.f. 1st June 2020 with quarterly rest.



Service Charges:

  1. Non-maintenance of minimum balance – Rs 5 per quarter.
  2. ATM transaction: first 5 financial transactions, per month, free of cost.  Exceeding 5 financial transactions,  Rs.10 (plus GST) per transaction will be charged.  Non-financial Local ATM transactions will be free.
  3. Account closure charges: If account is closed within 6 months – Rs. 10/-

Terms and Conditions applicable:

  1. Balances do not exceed Rs.50,000/- in all the accounts taken together.
  2. Total credits to the account should not exceed Rs.1 lakh in a year. 
  3. Aggregate withdrawals and transfers in a month not to exceed Rs.10,000/-
  4. Janhit accounts will be valid for a period of 12 months initially which may be extended by another 12 months if the account holder provides proof of having applied for an officially valid document. Once a Janhit account complies all KYC requirements for a regular account, his/her Janhit account will be closed and opened as a regular or Suvidha A/c as per his/her consent.






Account Closure:

  1. Within 14 days – No penal charges
  2. Above 14 days up to 6 months – Rs.10/-

Documents:

Click here to download KYC documents submission requirement.