Who can open an account :
● An individual in his/her name.
● More than one person jointly
● An illiterate person
● A blind / visually impaired / incapacitated persons
● A guardian on behalf of minor in the minor's name
● Clubs, association, ( only if registered)
● Local bodies, all types of co-operative societies or any other body
● Student who has completed 14 year of Age.
Interest will be calculated on the basis of daily product and will be credited to the account at half yearly intervals in March and September.
Pass book : Pass book will be supplied to every savings Bank depositor showing his/her account number, Name, address, transactions with date, amount and particulars.
Incidental charges : if a minimum balance of Rs.500/- (for all accounts with/without cheque book facility) is not kept, the bank will charge incidental charges at the rates as in force from time to time.
Also refer to our service charges elsewhere on this site for other incidental charges.
● Initial cash deposit for opening savings bank account & minimum balance to be maintained in the account :
With / without cheque book facility - Rs. 500/-
ABB Transactions:- withdrawal limit in a day is rs.50,000/ and for third party limit of Rs.25,000/- in a day.
Requirements for opening account :
● Two copies of latest photographs
● Proof of residence to the satisfaction of the bank (passport, driving license, Aadhar card, voters card, electricity bill, etc.)
● Photo identity proof
● Permanent account number (pan) with original for verification or declaration in form 60/61.
● Initial deposit in cash.
● Charges at the rate prescribed will be debited to the account on quarterly basis for non maintenance of prescribed minimum balance.
● Bank reserves the right to close any account, if cheques drawn are returned unpaid frequently for want of funds or the account is considered as irregular/non-satisfactory.
● Account not in operation for more than 2 years will be treated as inoperative/dormant account.
● Bank reserves the right to alter, amend, and rescind the rules from time to time.
● Passport copy with valid visa page - (for NRE accounts)
● Overseas identification card copy. - (for NRE accounts)
Other savings account
Kokan Bank's other saving bank account products:
Kokan Bank zero balance saving bank account for salaried person (SBZROBAL): An individual working in govt. org., semi govt. org., agents of life & general insurance, employees of educational institutions & public ltd companies account can also be opened of the employees of business concerns/ private/ industrial units (min 20 employees) & whose company account's are with our bank branches.
Kokan Bank SB junior accounts: for School / College going Students.
Savings bank account with zero balance to MID/QID deposit holders:
MID/QID depositors having minimum term deposit of Rs.10,000/- will be allowed to open savings bank account with zero balance.
Nomination facility is available for all the above Saving Bank Products.
Harbour Crest, Mazgaon T.T., Mumbai - 400 010.
+91-22 2372 3753, 2372 9969, 2637 9971, 2373 4202, 2373 4311