Indian Bank Deposit Account Opening Form Individual

Indian Bank Deposit Account Opening Form Individual from Download

The Indian Bank individual deposit account opening form (Part-II) covers several key operational rules, features, and account options (pp. 1-2):

Savings Bank Accounts: Standard Savings Accounts, Basic Savings Bank Deposit Accounts (BSBDA), and BSBDA Small Accounts (p. 1).
Other Accounts: Current Accounts, Fixed Deposits, Reinvestment Term Deposits, Annuity Deposits, Tax Saving Schemes, and Capital Gains Accounts (SB/TDR) (p. 1).

Applicants must pick a specific management structure for the account (p. 1):

Single: Self (p. 1).
Joint: Either or Survivor, Former or Survivor, Any one or Survivor, or Jointly Operated (p. 1).

ATM/Debit Card & Cheque Book: Available for applicants; mobile numbers are mandatory to trigger electronic service channels (p. 1).
Internet Banking (INB): Only fully open to single accounts or “Either or Survivor” joint accounts (p. 1). In “Former or Survivor” setups, INB access is restricted solely to the first applicant (p. 1).
Alerts & Communication: Opt-in choices for paid SMS alerts, Mobile/Phone banking, standard Passbooks, and monthly electronic statements (e-Statements) (p. 1).

Maturity Instructions: Offers automatic renewal of the principal (or principal + interest), direct payouts, or partial automated rollover (p. 1).
Auto-Sweep (MODS): Customers can authorize the bank to automatically move excess savings balance into high-yield Term Deposits (p. 1). Breaking this deposit to cover shortfalls defaults to a Last-In, First-Out (LIFO) protocol unless First-In, First-Out (FIFO) is selected (p. 1).
TDS Deduction: Explicit account authorization box to deduct tax at source (TDS) directly from a linked savings or current account (p. 1).

Form DA-1: Allows nominating one individual, whose name can optionally print onto the physical passbook (pp. 2, 4). Illiterate thumb-printing applicants require two physical witnesses to validate nominations (p. 2).
Minors: A minor over 10 years old who can maintain a uniform signature can open a self-operated account capped at a maximum balance of ₹10,000,000 (p. 4).

Interest Structure: Calculated dynamically on a daily product basis and officially credited into accounts at quarterly intervals (p. 4).
Cash Deposit Restrictions: Only 3 physical cash deposits are allowed free of charge at the home branch every month (p. 4). Third-party instruments endorsed to the holder are explicitly rejected (p. 4).
Inoperative Accounts: Accounts left completely dormant with zero customer-induced activity for 24 months are flagged as Inoperative (p. 4).

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