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The Jalandhar Central Cooperative Bank Ltd.

DEPOSIT SCHEMES

DIFFERENT TYPES OF ACCOUNTS

Saving Account

Who can open a Savings Account

  1. Any person competent to contract and satisfactorily introduced to the Bank may open an account in his/her own name. He/She may not open more than one such account. Accounts may be opened in the names of two or more persons and may be made payable to:
    • any one or more of them.
    • any one or more of the survivors.
    • either or anyone one or more of them or the survivors jointly, or survivor.
    • ‘former or survivor’ or ‘either or survivor’, subject to the condition that the second (first in the case of either or survior) named account holder will be entitled to the balance lying in the account only on the death of the former (either in the case of either or survivor) account holder.
  2. A savings bank account may be opened in the single name of a minor and may be operated upon by minor, if he/she has completed the age of 10 years and is able to read and write. Maximum balance to the credit of such account should not exceed at any time Rs. 1,00,000/-. For accounts of minors above 14 years, there is no limit to maximum balance.
  3. A savings bank account may be opened in the name of minor jointly with his/her natural guardian i.e. father or mother or both.
  4. An account can be opened in the name of club, society, provident fund and trust, provided they are duly constituted and subject to satisfaction of conditions stipulated by Reserve Bank of India/the bank from time to time.
  5. As per RBI directive and subject to their prior approval, accounts can be opened in the names of specified institutions/agencies, if they are registered under the Societies Registration Act or Companies exempted from using the word ‘Ltd.’ or ‘Pvt. Ltd.’ as part of their names as per the Companies Act 1956 and those working for socially desirable purposes and serving weaker sections of the society and those exempted from paying Income tax under Income Tax Act 1961.
  6. Further as per RBI directives, Savings bank account can also be opened in the name of Government Departments/bodies/agencies in respect of grants/subsidies released for implementation of various programmes/schemes sponsored by Central/State Government. Bank should also keep on their record a copy of the authorization issued by the respective government departments.

How to open a Savings Bank Account

  1. Application to open an account must be made in Bank’s prescribed account opening form. It should be made, in person, in the presence of Bank’s authorized officer and the applicant must fill in all the columns of the application form. Each applicant will be required to sign a declaration to the effect that he has read and accepted the Savings Bank Rules.
  2. Illiterate depositor, unable to write, must attend in person and affix his/her thump impression on the account opening form in the presence of an approved witness, who is known both to the bank and the applicant. Such illiterate depositor should lodge his/her recent photograph with the bank, duly attested by a person known to the Bank. Thus, he/she need not have his/her thumb impression attested by a witness every time he/she withdraws money from the account. It will suffice, if he/she affixes his/her thump impression in the presence of an officer of the Bank.
  3. At the discretion of the Bank, illiterate persons are allowed to open accounts jointly with persons who are literate or iliterate and closely related to them, to be operated upon jointly.
  4. Cheque book facility will be extended in the single or joint savings bank account of the illiterate depositors.
  5. Every account holder should submit copies of his/her recent passport size photograph at the time of opening an account.
  6. The account is to be introduced by an existing account holder having satisfactorily conducted account with the Bank. Whenever a deposit account is opened and introduction is taken from an existing account holder; the following condition must be fully satisfied:
    1. The account of the introducer should be minimum six months and
    2. The account of the introducer should have been satisfactorily and actively conducted.
    3. The account of the introducer should be KYC compliant. It means the proposed introducer has compiled with the KYC requirement in respect of the account maintained with the bank.
Any of the following documents bearing photograph of the holder is also accepted for the purpose of identification:
  1. Valid Passport
  2. PAN Card
  3. Driving Licence
  4. Voters ID Card
  5. Defence ID Card
  6. Identity Card of employees of central/State Govt. & Public Sector Undertakings
  7. Senior Citizen’s Card
In the event of withdrawal of introduction by the introducer, the Bank shall be entitled at its sole discretion to suspend the operation in the account immediately, without prior intimation to the depositor about it will be in order for the Bank to return/dishonor the cheques, if any, drawn on account, closing of account, without being liable for the same.

ATM & NEFT/RTGS Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1ATM ChargesAnnual ATM card charges ->1st year free ->2nd year – Rs.100/-Same Charges
2ATM Financial TxnATM Aquirer (Financial Txn) charges, after 5 transactions – Rs.21/- per transactionSame Charges
3ATM Non-Financial TxnATM Aquirer (Non Financial Txn) charges, after 5 transactions – Rs.7/- per transactionSame Charges
4New ATM card issue charges1st ATM card is freeSame Charges
5Duplicate ATM card issue chargesFor reissue of ATM card – Rs.200/-Same Charges
6SMS ChargesRs. 15/- per QuarterSame Charges
7RTGS/NEFT chargesNo chargesNo charges

Bank Gurantee Against Deposit Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Bank Guarantee against depositMinimum charges Rs.500/-Up to Rs.500000- 2% p.a.Above Rs. 500000 – 1% p.a.Charges to be levied at the time of issuing of guaranteeSame Charges

Interest Certificate Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Interest certificate/ Balance certificateFirst copy- FreeSubsequent copy- Rs.50/-per copyNo charges

Photo Attestation and Signature Verification Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Photo attestation chargesRs.50/- for Saving AccountsRs.100/- for Current AccountsNo charges
2Signatures verification chargesRs.50/- for Saving AccountsRs.100/- for Current AccountsFree for- Students, Defence forces, War widows, Physically handicap & Signature attestation for ECS purposeNo charges

Account Closer Charges Saving/RD

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Account closure charges before Six MonthRs.150/- for Saving AccountsRs.500/- for Current accountsNo charges for deceased casesNo charges
2Closing of RD A/c before maturityRs.100/-On account of death of customer no charges should be levied.Same Charges
3Penalty for late payment of RD installmentPenalty charges to be levied for delayed installments in Recurring Deposit Accounts @ Rs.2/- for Rs.100 p.m. irrespective of periodicity of deposit (Minimum Rs.20/-)Same Charges

Cash Deposit in Current Account*

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Cash deposit in Current Account (except Govt./Coop. Institutions.)Up to Rs.1 Lakh-free, Above Rs. 1 Lakh- Denomination up to Rs.100- Rs.10 per packet. Denomination above Rs.100, Rs.8 per packet Max Rs.10000/-.No charges

Payments under CBS other than Parent Branch

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Payments under CBS Other than parent branchCash Payment/Deposits under CBSOther than parent branch customers.No chargesNo charges
1

Excess Debit Entries Charges in SB Account

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Charges for excess debit entries in SB AccountAfter 30 Manual Debit entries per half year, Rs.5/- per entryshould be debited by system,No charges

Saving/Current Account->Cheque Book Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Cheque Book charges Saving Bank A/cOne cheque book containing 10 leaves free per half year Rs.2.50/- per leaf for extra cheque.One Saving Cheque book having 10 leaves is free every month for Bank staff of salary account (34005), Rs.2.50/- per leaf for extra cheque
2Cheque Book chargesCurrent A/cNo free cheque book is to be issued. Rs.3.00/- per leaf for each cheque.Same charges

Saving/Current Account->Minimum Balance Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Maintenanceof Minimum BalanceSaving Bank DepositsThe Customer who does not maintain minimum balance of Rs.500/- and Rs.1000/- withcheque book facility in his account the service charges shall be levied atthe following rates per month:Rs.50/- per month, will be debited every month.No charges for Senior Citizens.No charges
2Maintenanceof Minimum Balance Current AccountMin. balance Rs.5000/- is to be maintained.Rs.250/- per month, will be debited every month for non-maintenance ofminimum balance.Same Charges

Account Statement and Duplicate Pass Book Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Statement of account All types of accounts.One statement for current month and proceeding month is free.Current Account: Rs.50/- per statement for other months of current financial year.Rs.100/- per statement for proceeding financial years. Saving Account: Rs.50/- for any type of statement, except in case the statement is required for loan cases from same branch, should be generated and given after taking written request.Rs.100/- per statement for proceeding financial years.No service charges for statement under 34005 product in which salary is being credited, after taking written request.Same charges
2Duplicate Pass BookRs.50/- with one month entries, but should be issued on written request only, thereafter copy of statement is given as per charges mentioned above. No service charges for statement under 34005 product in which salary is being credited, after taking written request.Same charges

SAFE Custody and Locker Rent Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)ChargesApplicable Charges {For Bank Staff (Including Retired)}
1SAFE CUSTODY CHARGESRs. 50/- per annumSame Charges
2LOCKER RENTSmall Locker900/- p.a. Lien in SB A/c Rs.5000/-Concession of 50% charges in Locker rent. All other charges will remain same.
Medium Locker2000/-p.a. Lien in SB A/c Rs.10000/-
Big Locker3500/- p.a. Lien in SB A/c Rs.15000/-
Extra Large LockerNot available
Lien amount in SB account with the consent of customer.
Note: In case of loss of key of the Lockers, actual expenditure incurred for breaking open the locker and changing the lock by manufacturers of lockers, should be recovered from the account holders. Penalty charges per Quarter or part thereof:
Small LockerRs.100/-
MediumRs.200/-
BigRs.300/-
Extra LargeNot Appilcable
* Any default will atract penalty charges for a full quarter.
*The rent should become due w.e.f. 1st of succeeding month, in which the locker is leased out. One month may be allowed for payment if rent due.

Standing Instructions and STOP Payment Instructions

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1STANDING INSTRUCTIONSNo charges for registration.Rs. 50/- per transaction, involving credit to account in other branch or state, remittance charges at he prescribed rate and actual postage shall be recovered additionally, charges to be levied on the account from which amount is transferred.Rs10/- for standing instruction for the transfer of amount under same customer ID within the branch from one account to another account is proposed ( for all type transaction)Same Charges
2STOP PAYMENT INSTRUCTIONAll types of accountsRs.50/- Same Charges

Issuance/Cancellation of Banker Cheque /Pay Order/DD

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Issuance of Banker cheque/ Pay order/DDUp to Rs.5000/- Rs.50/- Above Rs.5000/- and up to Rs 10000/- Rs.100/- Above Rs.10000/- Rs.2/- per thousand or part thereof and minimum Rs.50/- Maximum Rs.10000/- Every Staff Member is entitled for Two free drafts/ pay orders in a month
2Issuance of Duplicate Banker’s cheques/DDsRs.100/-Same Charges
3Revalidation/Cancellation Of Pay order/DDsRs.100/-Same Charges

Cheques/ECS- Outward Inward

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Outward Cheques/Bills returned unpaidCharges for outward Cheques/Bills Clearing Returns, outward loan Cheques return. Rs.100/- per instrument (For local Cheques/Bills), Rs.200/- per instrument (For outstation Cheques/Bills)Same Charges
2Inward Cheques/Bills return unpaidRs.50/- per instrument.Same Charges
3ECS outward and inward clearing returnRs.50/- per instrumentSame charges

Collection of Outstation Cheques/Bills

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Collection of Outstation Cheques Up to Rs 10000/- Rs.50/- From Rs10000/- to Rs 100000/- Rs 100 Above Rs100000/- Rs150/- Above charges are per instrument.Same charges
2Collection of BillsUp to Rs. 10000 Rs. 50/- plus Postal charges Rs. 10001 and above Rs.6/- per thousand, Min 100/- and Max. 12000/- plus postage. No collection charges to be levied for collection of local cheques/drafts. However, out of pocket expenses be recovered in full. Collection charges in cases of outstation cheques/bills should be levied on the gross amount of instrument. Further, No charges to be taken from Senior Citizens/pensioners for collection of pension up to Rs 10000/-, however postal charges are to be recovered.Same charges

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