Your Accounts
Basic Savings Bank Deposit Account
As its name suggests, the Basic Savings Bank Deposit Account is a simple, basic account for routine banking transactions.
Features
- No minimum balance requirement
- Unlimited withdrawals allowed in a month across all channels, including ATM withdrawals
- Basic banking services and cheque books will be made available
- No limit on the number of deposits that can be made in a month
Pradhan Mantri Jan Dhan Yojana:
- Zero Balances Savings account (Basic Savings Bank Deposit account)
- Free Debit Card
- Free Passbook (including duplicate issuance)
- No limit on the number of deposits that can be made in a month
- All basic banking services and cheque books will be made available free of cost
- Unlimited withdrawals in a month
- The account can be used for day to day needs like deposit, withdrawal, remittances, etc.
- Booklet in Hindi to understand the benefits of Pradhan Mantri Jan-Dhan Yojna.
Auto-Saver (sweep in and sweep out facility)
The DBS Auto-Saver offers higher interest rates of fixed deposits on idle funds in savings accounts.
Features
- Fixed Deposit is made for a minimum amount of INR 1,000 and in multiples of INR 1,000, subject to a maximum cap of INR 1 Crore.
- Customers have the flexibility of choosing from a tenure between 7 days – 1 Year.
- Tenure once chosen will remain constant for the entire period in which facility is availed.
- Funds will be utilized to automatically create (sweep-in) fixed deposit(s) from the savings account. Linked fixed deposits(s) get broken automatically (sweep-out) to meet the shortfall arising on account of any debits into the savings account e.g. cheques issued, ATM withdrawals, etc.
- Fixed Deposit gets broken only in multiples of INR1. The balance in the Fixed Deposit continues to earn interest at the initial contracted rate, to ensure maximum returns.
- This is offered to both Resident and non-Resident customer (For non-resident customer only on their NRO account and NRO FDs).
- When multiple Fixed Deposits are linked to the Savings account, the last Fixed Deposit created is broken first (LIFO method), to ensure maximum returns.
- There is no extra charge for availing this facility.
- No penalty will be charged for premature breakage of Fixed deposits when there is shortfall in the account.
- The threshold in the Savings account is INR 1 lac beyond which funds will be swept into fixed deposits.
Click here to view Interest Rates.
