Bank

A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers that have capital deficits to customers with capital surpluses. Due to their critical status within the financial system and the economy[citation needed] generally, banks are highly regulated in most countries. Most banks operate under a system known as fractional reserve banking where they hold only a small reserve of the funds deposited and lend out the rest for profit. They are generally subject to minimum capital requirements which are based on an international set of capital standards, known as the Basel Accords. The oldest bank still in existence is Monte dei Paschi di Siena, headquartered in Siena, Italy, which has been operating continuously since 1472

History
Banking in the modern sense of the word can be traced to medieval and early Renaissance Italy, to the rich cities in the north like Florence, Venice and Genoa. The Bardi and Peruzzi families dominated banking in 14th century Florence, establishing branches in many other parts of Europe.[2] Perhaps the most famous Italian bank was the Medici bank, set up by Giovanni Medici in 1397.[3] The earliest known state deposit bank, Banco di San Giorgio (Bank of St. George), was founded in 1407 at Genoa, Italy. Banking in India started in the 18th century, but became an important tool to facilitate the development of the Indian economy in the 1960s. Since then, there have been numerous banks offering different types of banking accounts. It is important to know how the accounts work and which would fit your needs.

Banking
Banks act as payment agents by conducting checking or current accounts for customers, paying checks drawn by customers on the bank, and collecting checks deposited to customers' current accounts. Banks also enable customer payments via other payment methods such as Automated Clearing House (ACH), Wire transfers or telegraphic transfer, EFTPOS, and automated teller machine (ATM). Banks borrow money by accepting funds deposited on current accounts, by accepting term deposits, and by issuing debt securities such as banknotes and bonds. Banks lend money by making advances to customers on current accounts, by making installment loans, and by investing in marketable debt securities and other forms of money lending. Banks provide almost all payment services, and a bank account is considered indispensable by most businesses, individuals and governments. Non-banks that provide payment services such as

remittance companies are not normally considered an adequate substitute for having a bank account. Banks borrow most funds from households and non-financial businesses, and lend most funds to households and non-financial businesses, but non-bank lenders provide a significant and in many cases adequate substitute for bank loans, and money market funds, cash management trusts and other non-bank financial institutions in many cases provide an adequate substitute to banks for lending savings too.

Account types
Bank accounts may have a positive, or credit balance, where the bank owes money to the customer; or a negative, or debit balance, where the customer owes the bank money[1]. Broadly, accounts opened with the purpose of holding credit balances are referred to as deposit accounts; whilst accounts opened with the purpose of holding debit balances are referred to as loan accounts. Some accounts are defined by their function rather than nature of the balance they hold. Bank accounts designed to process large numbers of transactions may offer credit and debit facilities and therefore do not sit easily with a polarised definition.

State bank of India

State Bank of India logo is in the shape of a key hole. This symbolizes the banks security. Further the round shape of the logo symbolizes that the bank is the largest bank of India with its branches spread all over the country. THE MEANING OF LOGO OF STATE BANK OF INDIA IS THAT IN SUCH A BIG EARTH (WORLD), WE SERVE EVEN A SMALL MAN ALSO (denoted by a narrow line).
State Bank of India offers different types of accounts. They are: a. Savings Account b. Current Account c. Fixed Deposit Account d. Recurring Deposit Account e. Senior Citizen Deposit Account f. Senior Citizen Pension Account g. Etc

SBI Account
Having an SBI Account allows you to enjoy a number of hassle free services while managing your funds. State Bank of India is the largest bank with the largest network in the India and it offers numerous banking products and services. With the new Online Banking Services of SBI, customers can now make their account balance enquiry, initiate money transfer or pay bills online without visiting the branch of the bank. Literally, customers can get all their account information including account statement and status online. A variety of SBI Bank Account types are available for the eligible customers to open and get the beneficial features offered by the account products. Some of the most popular SBI account types are discussed below.

SBI Current Account

Opening a current account with State Bank of India will allow you to get ATM cum Debit Card through which you could have access to the large network of ATMs all over India. You can use the card to withdraw fast cash, make balance enquiry and pay for goods and services at numerous establishments in the country. You can also enjoy the added advantage of Internet Banking to better manage your account. Other benefits of current account include low minimum balance requirements, nomination facility, overdraft facility and transfer of accounts within the branches of the bank.

SBI Savings Account

State Bank of India offers savings account for those customers who wish to make some saving for their future requirements. SBI offer competitive interest rates and complete safety for funds under the savings account. Savings account comes with convenient ATM cum debit card that allow access to over 2,800 cash machines across the country. Customers can also monitor or manage their savings with Passbook facility or Online Banking services offered by the bank. All you have to do is just get your net banking username and password to login to your account to make balance check, balance transfer or to get account details online. SBI savings account allow you to earn an attractive interest rate of 3.5% p.a. which is compounded half yearly.

SBI Premium Savings Account

Premium savings account is an enhanced version of savings account and it consists of several concessions and benefits. Customers above 18 years of age are only eligible to open this type of account. Under this savings account two different types of account are available and they are Savings Bank Component and MOD Component. Auto-sweep facility is offered in these accounts at monthly intervals and Term Deposits and Special Term Deposits could be created under the MOD scheme. Unitised break-up facility is also made available to the account holders to withdraw their deposits conveniently. Other than the account products discussed above, SBI Bank also offers many other accounts that include no frill account, zero balance account, demat account, ppf account and online checking account. The minimum balance of different type of SBI Account will vary. If you are thinking to open an account then SBI account opening form is easily available at any branch of the bank. SBI account opening procedures

is very simple. You are just required to provide you residential proof, you identification certificate and age proof to complete the account opening process. For more details on SCI account closure, closing form, account address change, account number enquiry and account form for NRI, kindly visit the official website of the bank.

ICICI Bank
ICICI Bank is a private sector bank that is governed by the management of ICICI Bank. It is one of the largest banks in India and also the largest private sector bank in India providing services to thousands of customers in India. Types of Accounts

Saving Account
An ICICI Bank Savings Account offers you a valuable banking experience.
Debit-cum-ATM Card - With ICICI Bank Savings Account you will get a debit card that you can use to withdraw cash from any ATM. You may also use your debit card to directly make purchases through a Visa/Mastercard POS (Point of Sale) machine available at most stores! This will help you access your money from anywhere. Money Multiplier Facility - Allow us to take care of your idle money by moving it into high interest savings account earning. Customer Care - Our 24-hour Customer Care is always available to answer any query or take your instructions. For Customer Care numbers, please click here. Mobile Banking - Transferring funds or getting to know your balance is as easy as sending an SMS. For details on Mobile Banking, please click here. Standing Instructions - ICICI Bank accepts and supports Standing Instructions. You don't have to worry about the chore of carrying out a routine transaction. Just set up a Standing Instruction and leave it to us to manage.

Special Savings Account

ICICI Banks Special Savings Account provides comprehensive banking services to non profit motive organizations like Trusts, Associations, Societies, Clubs, NGOs, Hospitals, Educational and Research Institutes and section 25 companies and entities eligible for a savings account as per RBI Guidelines .

Life Plus Senior Citizen Services : ICICI Banks Life Plus Senior Citizen Services have been designed to empower senior citizens to independently carry out the day-to-day banking transactions with dignity and confidence. These senior citizen benefits are exclusively for customers above 60 years of age.

The ICICI Bank Edge

Designated Senior Citizens desk for Life Plus customers at all ICICI Bank branches Higher Interest Rates on Term Deposits Overdraft against your deposit Free collection of outstation cheques drawn on any ICICI Bank location Special Senior Citizen 'Life Plus' Debit card Money Multiplier Facility Anywhere Banking

Fixed Deposit:
Flexibility of tenure - 7 days to 10 years Liquidity

Premature / Partial withdrawal permitted (subject to applicable charges) Loan / Overdraft upto 90% of FD amount Option of monthly / quarterly payout available
Competitive interest rate

Security Deposits
A few Corporates stipulate to their new employees to provide Security Deposit to reduce attrition. ICICI Banks proposal for the employee is to keep the Security Deposit in the form of a Fixed Deposit (FD) with the Bank. The employee cannot withdraw such FDs without the consent of the company and the company has the right to withdraw the FD in the event of employee leaving the organization before a certain stipulated period.

Recurring Deposit Accounts:

ICICI Bank Recurring Deposits are an ideal way to invest small amounts of money every month and end up with a large kitty on maturity. High recurring billing and recurring payments can be a drain on your finances and hence large investments may seem a plan away.

Features: With our recurring deposits you can avail a host of facilities with ICICI Bank. You may check on recurring account receivable, recurring account payable, recurring account fees and all recurring debit account transactions. A recurring deposit account with ICICI Bank allows you a loan against the deposit. Our new recurring deposit account also has a special feature - Non-applicability of Tax Deduction at Source (TDS). The minimum balance of deposit is Rs.500 per month and thereafter in multiples of Rs.100. The tenure ranges from 6 months to a maximum period of 10 years, recurring deposit of 3 months thereafter. The recurring deposit also comes with a nomination facility.

Salary Account:
ICICI Bank Salary Account is a benefit-rich payroll account for Employers and Employees. ICICI Bank Salary Accounts benefits you in more than one ways:

Reduces your paperwork. Saves remittance costs. Employees receive instant credit of salaries. More convenient than ECS.

Besides all of the above, employees will automatically become ICICI Bank account holders with special benefits and privileges of 8-8 banking, Investment advisory and much more. ICICI Bank also has a special offering: Defense Banking Services designed exclusively for the armed forces.

Advantage Woman Savings Account:

The ICICI Bank Advantage Woman Account enables todays independent women to enjoy hassle-free banking services. Besides the core ICICI Bank advantage, the Advantage Woman Savings Account is packed with special benefits for our women customers.

Eligibility Advantage Woman Savings Account can be opened with primary applicant as any resident Indian woman (majors above 18 years).

The ICICI Bank Edge

Zero Balance facility with a RD of just Rs. 2,000**. A Special International Woman's Debit card along with the account with a withdrawal limit of Rs. 25,000 per day and a spend limit of Rs. 35,000 per day. Gamut of discounts and benefits on your Special Woman's Debit card. Free multi-city cheque book. Free quarterly physical account statement and free monthly email statement (on customer request).

EEFC Account Indian exports have surged over the last decade owing to an unprecedented boom in sectors like software, biotechnology, gems, jewellery, textiles etc. As a result of this, the volume of inward remittances has also increased significantly. To shield the firms engaged in regular export and import from the exchange rate fluctuations RBI has allowed parking of foreign currency by exporters in an account designated as Exchange Earners Foreign Currency Account (EEFC). EEFC accounts are Current Accounts held in foreign currency with authorized dealers of foreign exchange in the country. Resident Foreign Currency (Domestic) Account: Benefits of ICICI Bank RFC (D) Account

Saving in commission charges, as you can withdraw foreign currency when you want without any conversion charges. Facilitates your payments for foreign travel expenses. No ceiling on deposits. Convenient and value-added banking. Protection to your money from valuation risks due to exchange rate fluctuations. No ceiling on the maximum amount of deposit in the account.

No Frills Account: The ICICI Bank Edge

The monthly average balance requirement for this account is nil. Free ICICI Bank VISA debit card. One chequebook of 15 leaves per annum free. You can request for additional cheque books ( 15 leaves) at Rs. 30 (plus service tax as applicable) per chequebook. Internet Banking facility is not available to the customers. Mobile Banking facility is not available to the customers. Cash transactions at base branch is free for the first 4 transactions of a month; Thereafter in the month, Rs. 90 per transaction. All anywhere banking transactions chargeable at normal charges as published from time to time.

Interest is payable half-yearly.

Freedom Savings Account:

ICICI Bank Freedom Savings Account puts powerful Instabanking services at your fingertips, to help meet the needs of your busy lifestyle. ( Our branches have extended banking hours) . The ICICI Bank Edge

Debit-cum-ATM Card - Withdraw cash from any ATM or pay for your shopping or purchases with your ICICI Bank Debit-cum-ATM Card at millions of establishments across India. Money Multiplier Facility - Get the liquidity of a Savings Account coupled with high earnings of a Fixed Deposit. Any idle money in your savings account is transferred to the linked fixed deposit. Thus you earn higher interest and at the same time enjoy liquidity. Mobile Banking - Put the bank in your pocket with iMobile, our revolutionary new mobile application. Standing Instructions - Set up a Standing Instruction to manage regular payments like transfers to your Fixed or Recurring Deposit account. Nomination Facility - Nominate a person as beneficiary to your account proceeds.

Axis Bank
Axis Bank Limited, formerly UTI Bank, (BSE: 532215, LSE: AXBC) is an Indian financial services firm that had begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the Specified Undertaking of the Unit Trust of India (UTI-I), Life Insurance Corporation of India (LIC), General Insurance Corporation Ltd., National Insurance Company Ltd., The New India Assurance Company, The Oriental Insurance Corporation and United India Insurance Company UTI-I holds a special position in the Indian capital markets and has promoted many leading financial institutions in the country. The bank changed its name to Axis Bank in April 2007 to avoid confusion with other unrelated entities with similar name.[3] After the Retirement of Mr. P. J. Nayak, Shikha Sharma was named as the bank's managing director and CEO on 20 April 2009. Accounts:

Savings Account
EasyAccess Savings Account
EasyAccess Savings Account gives you instant access to your money anywhere, anytime. Possessing a range of unmatched features, it has been devised to better suit the convenience of our eclectic client base.

Prime Savings Account

At Axis Bank, we have always strived to pace our products with the growing needs of our customers. The Prime Savings account has therefore been created with your specific financial requirements in mind.

Pension Savings Account

Pension Savings Bank Account from Axis Bank is specifically, designed for Pensioner's (Existing & Prospective) of Central Govt. Civil Ministries/ Departments & Defence Ministry keeping in mind the fact that a Pensioner's banking requirements are wholly different and require special consideration. Timely

communication to the customer on receipt of the PPO .No delays in commencement of pension disbursals. Women's Savings Account
Women's Savings Account gives you instant access to your money anywhere, anytime. With the Women's Savings Account, you can manage your money and your life and Furthermore Axis Bank's Women's Savings Account ensures that you have enough time for all the important things in life.

Senior Citizen's Account

The account is an endeavor by the Bank to understand the consumers' needs and redefine banking to suit your requirements for a truly comfortable banking experience. Senior citizen Savings Account gives you instant access to your money anywhere, anytime. Axis Bank's Senior Citizen Savings Account has been designed keeping in mind the fact that a Senior citizen's banking requirements are wholly different and require special consideration.

Current Account:
Azaadi - No Frills Account:
Zero Balance Savings Account: No need to maintain a fixed, mandatory amount in your account. Instant Welcome Kit: Handed over to you at the time of account opening, the kit will consist of your account number, debit card, debit card PIN, internet banking PIN and phone banking PIN numbers.

Resident Foreign Currency (Domestic) Account:

A Resident Foreign Currency (Domestic) Account, RFC(D), with Axis Bank entitles you to maintain noninterest bearing current account in four major currencies (USD, EURO, GBP and Japanese Yen). There will be no ceiling on the balances held in the account. Chequebooks denominated in USD or GBP or EURO or Yen will be issued on these accounts with 25 leaves. A RFC(D) account with Axis Bank entitles you a hassle free and safe avenue to park your foreign currency. It will also save you of commission charges; you otherwise would have to pay whenever you require foreign currency.

Salary Account:

Priority Salary Account

For employees with net monthly salary of Rs.60,000/- or more. Bank at any of our over 1600 branches

and a network of over 1000 ATMs spread across more than 1000 centers.One free multi-city at par cheque book per quarter. One free Pay Order / Demand Draft drawn at Axis Bank locations per
month.

Defence Salary Account (Power Salute) (Power Salute) Axis Bank is proud to be the banking partner of the brave men and women who defend our nation.

Easy Access Salary Account

For employees with net monthly salary of Rs.9,000/- or more.

Wealth Salary Account

For employees with net monthly salary of Rs.2,00,000/- or more.

Prime Salary Account

For employees with net monthly salary of Rs.25,000/- or more.

Union Bank of India

Union Bank of India (UBI) (BSE: 532477) is one of India's largest public sector banks (the government owns 55.43% of its share capital remains public, private organizations and foreign companies), is listed on the Forbes 2000. It has assets of USD 13.45 billion and all the bank's branches have been networked with its 3025 ATMs. Its online Telebanking facility are available to all its Core Banking Customers - individual as well as corporate. It has representative offices in Abu Dhabi, United Arab Emirates, and Shanghai, Peoples Republic of China, and a branch in Hong Kong.

Accounts
Savings Account:
SALIENT FEATURES:

Simplest deposit option available to the depositor.

An ideal option to cultivate the habit of banking and saving amongst the younger generation. Easy to operate. Terms and conditions kept lucid to facilitate a layman's understanding

No hidden costs Zero balance facility. A Student can open Regular Saving Account with zero balance

Minimum balance requirement with or without cheque book facility : Centres Without Cheque Book With Cheque Book Metro 500 1000 Urban 500 1000 Semi Urban 250 500 Rural 100 250 For Pensioners 100/- and 10/- respectively for cheque book and non cheque book a/cs

Union Flexi Deposit:

SALIENT FEATURES PURPOSE This all-new Deposit Scheme has integrated features of the Savings Deposit and Fixed Deposit, namely liquidity with higher interest returns on surplus funds. HOW DOES THE SCHEME WORK?

The depositor will open a Savings Bank Flexi Account with a minimum initial amount of Rs 15,000/-

The system will create a linked Fixed Deposit Flexi Account and transfer to it the surplus funds over Rs 10,000/- in multiples of Rs 5,000/- [called units]. Any surplus beyond multiples of Rs 5,000/- will be retained in the SB Flexi Account

Assuming the initial amount is exactly Rs 15,000/-, the SB Flexi Account will have exactly Rs 10,000/- and the linked FD Flexi Account will have exactly Rs 5,000/- i.e. one unit. If the initial amount is more, the SB Flexi Account will have a balance of Rs 10,000/- or more but less than Rs 15,000/-, such that the linked FD Flexi Account balance will be in multiple units of Rs 5,000/- with minimum Rs 5,000/-

All the linked Fixed Deposits will have the same maturity period , which will be decided on by the depositor at the time of opening itself

NO FRILLS Savings Account:

Salient Features of NO FRILLS SAVING ACCOUNT

All resident individuals eligible to open a "No frills saving account" except NRIs,trusts, societies, etc. Any number of accounts in a family can be opened under this scheme. In north eastern states account can be maintained with zero balance. No cheque book facility will be available. One ATM / International debit card will be issued to the account holder. Withdrawal of cash will be available only through ATM wherever online ATM facility is available. At other branches, withdrawals will be through withdrawal slip. Number of free customer induced debit entries will be restricted to 30 per half year including debit entries through ECS/ATM. Entries above 30 will be charged @ Rs.5/- per entry. Total credits in the account should not exceed Rs.1,00,000/- in a year. There is no restriction on entries for deposit of Cash/Cheques in the account. Nomination facility is available. The balance in all the accounts of the accountholders taken together in the bank should not exceed Rs.50,000/-.

Union Super Salary Account (USSA):

ELIGIBILITY:

Employees of any Corporate, Institution, Organization, Govt. Dept., etc. with employee strength of minimum 15 Minimum 15 employees should open salary accounts with us

BENEFITS :

Zero Balance Savings Account Comprehensive Welcome Kit is provided to the USSA holder at the time of opening. The welcome kit contains: International Debit Card Internet Banking (Union e-Banking) User Manual Phone Banking (Union Reach) User Manual SMS Banking User Manual Mobile banking User Manual

The Welcome Kit facilitates the USSA holder Any Where/Any Time Banking of his choice, as under:-

ATM Banking Internet Banking Phone Banking Branch Banking SMS Banking Mobile Banking

USSA customer can use his Debit Card at the large number of Union Bank ATMs at various locations in India, free of cost Free cash withdrawal from other banks ATMs, upto 5 transactions per month

Current Account:
Eligibility:Any Resident Individual - Single Accounts, Two or more individuals - Joint Accounts, Sole Proprietary Concerns, Partnership Firms, Illiterate Persons, Visually impaired Persons, Minors(account to be operated by Guardian), Limited Companies, Associations, Clubs, Societies, etc. Trusts, Joint Hindu families (accounts of non-trading nature only), Municipalities, Government and Quasi-Government Bodies, Panchayats

Religious Institutions Educational Institutions (including Universities) Charitable Institutions

Benefits Card Convenience ATM cards are given to individual current accounts, joint individuals and to the accounts of proprietary concerns. Get your ATM card have access to the wide network of ATMs across the country to withdraw cash, enquire about your balance, mini statement of accounts, recharging mobiles etc. Moreover, your card enables you to shop at a large number of Merchant Establishments in India. You can also avail yourself of our ATM-cum-Debit Card, which is truly international and which can be used within as well as outside India, at a nominal fee. Easy and Wide Accessibility Transact at your convenience, saving time and cost through Union Bank Internet Banking.You can also use ATM card at any Banks ATMs, subject to nominal charges of Rs 20/ per transaction

Monitoring Your Account

Monitor and control your funds through Union Bank Internet Banking or/ and through Passbook/ statement of account facility.

Transaction Ease

Unlimited number of payments. Make payments by giving us standing instructions. Remit funds from any part of the country to your account. Upcountry Cheque Collection facility.

Union Classic Current Account:

Based on the previous month's Average Monthly Balance (AMB) maintained, certain free facilities are allowed in UCCA. There are four kinds of AMB recognizedfor this purpose as follows:

50,000 1,00,000 5,00,000 25,00,000

Recurring Deposit:
Union Cumulative Deposit: Scheme is mainly aimed at lower / lower middle / middle / upper middle and salaried sector. It mainly encourages small investors to save in easy monthly installments over a fixed period of time. ELIGIBILITY:Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, visually impaired persons, Purdanasheen Ladies, Minors, Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI eligible to open a "Cumulative Account" in single/joint name/s. SALIENT FEATURES : Monthly installments can be for any amount starting from as low as Rs.50/- onwards An account can be opened for any period ranging from 6 months to 120 months, in intervals of 3 months The installment amount selected at the start of the scheme will be payable every month The number of installments once selected, cannot be altered. (A cumulative deposit can be converted into a Term Deposit before maturity, provided that the term deposit is for a period larger than the remaining period of cumulative deposit account and arrears, if any,

of the monthly instalments together with the penalty for the delay, are paid by the depositor. ) However, in the unlikely case of the monthly installment being discontinued for a valid reason, the account holder can convert the amount of installments already paid, into Fixed or Reinvestment Deposit for a period longer than the remaining period of the Cumulative account. For the period the cumulative account has run, compound interest at the applicable rate is payable Interest at the permissible rate is compounded every quarter The maturity amount will be paid one month after the deposit of the last installment (latest table giving maturity values available with the branch) A pass book will be provided to the depositor

Union Monthly Plus:

SALIENT FEATURES :

The Scheme is available to Individuals / Institutions / Corporates / Proprietorship / Partnership / Trust / HUF et The customer will have to select the "Core Amount", at the time of opening the account and deposit the same, initially Minimum Core Amount is Rs.100/- & Maximum Rs.1,00,000/The period of deposit will be from 6 month to 60 months, in multiple of one month Rate of interest on this scheme will be as per the Term Deposit rate applicable for the period Interest will be calculated on monthly product basis, for the minimum balance between the 10th & last day of the month and will be credited quarterly The Scheme offers flexibility of depositing monthly installment amount, by way of Step Up & Step Down options.

Fixed Deposit
Short Deposit Receipt: Bank accepts deposits from general public and others from 7 days to a maximum period of 10 years. Deposits for a period of 7 days and above but not exceeding 179 days are classified as Short Deposits. Minimum amount that can be deposited under this scheme is Rs.5 lacs for a period of 7-14 days. The rate of interest is payable on Short Deposits as per interest table available on the Bank's website. Fixed Deposit Receipt: ELIGIBILITY

Any Resident Individual - Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, Blind persons, Purdanasheen Ladies, Minors, Associations, Clubs, Societies, etc. Trusts, Institutions/Agencies specifically permitted by the RBI eligible to open a ""Fixed Deposit Receipt" Account" in single/joint name/s. Minimum amount:Rs.10,000/- for FDR in Metro and Urban Branches and Rs.5,000/- in Rural and Semi urban branches, and for senior citizens the minimum amount will be Rs. 5000/Minimum Amount criteria will not be applicable to Subsidy kept under GOVT Sponsored Schemes, Margin Money, earnest money and court attached/ordered deposits Payment of Interest: (Subject to applicable TDS) Interest will be paid on quarterly basis and in case the date of interest payment falls on holidays then on the next working day Payment and Renewal of Deposits Before Maturity Depositors may request repayment of their deposits before maturity. Repayment of term deposits before maturity is permissible in terms of the directives of the Reserve Bank of India issued from time to time. In terms of the directives, the provision regarding premature withdrawal of deposits is as follows: In the event of the FDR being closed before completing the original term of the deposit, interest will be paid at the rate applicable on the date of deposit, for the period for which the deposit has remained with the Bank, with premature closure penalty. Provision for nomination.:- Nomination facilities are available Rate of Interest :- Rate of interest differs from depending upon tenure of the deposits and as and when the Bank changes the Rate. Senior citizens are offered additional interest of 0.50 % for deposits placed for 1 year and above period.

Union Demat Account:

To carter to your individual needs as diverse as your portfolio, Union Demat will empower you with hassle-free, fast and accurate electronic transactions. Plus you get Union Bank's quality service which you are used to, at all times. UNION DEMAT: Conduct hassle-free transactions on your shares. Manage your securities at your fingertips.

DEMAT ACTIVITY INCLUDES: Opening and maintaining of Demat Accounts Dematerialization Dematerialization Purchases Sales Pledging and unpledging Safe custody

Allahabad Bank: Deposit Accounts Non Resident Indians can open accounts under Repatriable and Non-Repatriable deposit schemes. In respect of Repatriable scheme the NRIs have the choice of following schemes for depositing their savings with Our Bank. 1. Foreign Currency Non Resident account (FCNR)

FCNR deposit accounts can be opened in U.S. Dollars (USD), Great Britton Pounds (GBP), Euro (EUR), Canadian Dollars (CAD), and Australian Dollars (AUD) Deposits are accepted under Fixed Deposit and Double Deposit schemes where interest gets automatically reinvested at half yearly intervals. Minimum amount for deposits are USD 2000/-, GBP 1000/-, EUR 2000/-, CAD 5,000/and AUD 5000/-. Further the deposits are maintained in multiples of 1000 units.

2. Non Resident External (NRE) accounts

Non-Resident accounts are maintained in Indian Rupees by remittance of foreign exchange through normal banking channel and also transfer from existing NRE accounts or repatriable funds. The deposit and interest accrued is repatriable in any convertible currency at the prevailing exchange rate as per instruction of the depositor. The funds can also be used for local remittance. Funds can be maintained in Savings Bank account. Current account can be maintained and no interest is paid on deposits.

3. NON-REPATRIABLE SCHEME Non-Resident Ordinary (NRO) Account

NRO account can be maintained in Rupees and account is opened with inward remittance received through normal banking channel and transfer of existing domestic accounts of the depositor or funds from other NRE/FCNR accounts of the depositor. Depositor can open Savings Bank/Current account, Fixed Deposit, Cash Certificate,

Recurring Deposit. Interest earned is subject to Indian income tax, which is deducted at source. Current year income including interest credited in the account is fully repatriable. The balance held in the Non-Resident ordinary rupee account is ordinarily repatriable. Depositor, can also remit up to USD 1 Million per financial year April to Marc

Savings Account
Allahabad Bank : Rs. 5 Banking

The account can be opened with a minimum initial deposit of Rs. 5. No charge is applicable if the amount of minimum deposit falls by Rs. 5. Duplicate passbook will be issued with a charge of Rs. 10. This account can be converted to a normal Savings Bank account after depositing minimum account balance in the account. No cheque book or ATM facilities are available with this account. More >>

Allahabad Bank : AllBank Premium SB Account

The account holder can avail 25% discount on all service charges. Instant credit available for all outstation cheques upto Rs. 25,000. International debit cum ATM card as well as cheque Book will be issued to the account holder. Account holder will also be eligible for free personal accident cover of Rs. 1,00,000. More >>

Allahabad Bank : AllBank Mahila Sanchay Account

This savings bank account can be opened and maintained with a minimum balance of Rs. 1. Demand Drafts and cheques up to Rs. 1,000 meant for educational purposes of the wards of the account holder would not attract any charges. On request the account holder can also avail a Piggy Bank free of cost to garner small savings in it and to then deposit a lump sum in her bank account at once. More >>

Allahabad Bank : AllBank Vikash SB Account

This account is meant for various local organisations and Non-Government Organisations which are engaged in social causes and development services. The organisation is required to maintain a minimum balance of Rs. 50,000. Discount of 25% will be provided on all service charges. Facility of instant credit of outstation cheques Up to Rs. 25,000 will be provided.

Allahabad Bank : Sishu Mangal Deposit Scheme

Any citizen of India who falls in the age group of 1 to 15 years can get this account under guardianship. The amount needs to be deposited on predetermined basis, the bank will provide a chart and according to that the amount needs to be deposited in the account. The amount to be deposited in the account will increase in accordance to the maturity value.