Banking Information - General

2008-10-18T02:49:00.000-07:00

Savings / current Accounts

When you open a Deposit Account, we will

a. inform you about number of transactions, cash withdrawals, etc., that can be done free of charge within a given period;

b. inform you about the kind of charges, if any, in case of exceeding such limits Details of the charges will be included in the Tariff schedule;

c. inform you of the rate at which interest is paid on your savings deposits, how it is calculated and its periodicity.

Minimum balance

The minimum balance to be maintained in the Saving Bank account will be displayed in our branches. For deposit products like Savings Bank Account and Current Account or any other type of Deposit Account, we will inform you

a. about minimum balances to be maintained as part of terms and conditions governing operation of such accounts;

b. about charges which will be levied in case of failure to maintain minimum balance in the account by you. Details of the charges will be included in the Tariff Schedule.

Charges

Specific charges for issue of cheque books, additional / duplicate statement of accounts, duplicate pass book, copies of paid cheques, folio charges, debit card, ATM card verification of signature, return of cheque for insufficient balance, change in mandate or style of account etc., will be included in our Tariff Schedule. Concessions or relief given (such as perpetual waiver of renewal fee on lifetime credit cards ) will not be withdrawn during the original validity period of the concession/relief

Statements

a. To help you manage your account and check entries in it, we will provide you with a monthly statement of account, unless this is not appropriate for the type of account you have [like an account where you have a passbook].

b. You can ask us to provide you with account statements more often than is normally available on your type of account, at a charge. This charge will be indicated in the Tariff Schedule.

c. You will be able to see your last few transactions at the counter. You will also be able so see the transactions on ATM or through your internet account wherever such facilities are available with us.

d. We will also send you statement of accounts by e-mail, or through our secure internet banking service, if you so desire, provided we have such facility with us.

Closing your account

Under normal circumstances, we will not close your account without giving you at least 30days notice. Examples of circumstances, which are not ‘normal’, include improper conduct of account etc. In all such cases, you will be required to make alternate arrangements for cheques already issued by you and desist from issuing any fresh cheques on such account.

Credit Card

8.14.1 General information

a. While you apply for card, we will explain the relevant terms and conditions such as fees and interest charges, billing and payment, method of computation of overdues renewal and termination procedures, and any other information that you may require to operate the card.

b. We will advise you of our targeted turn around time while you are availing / applying for a product / service.

c. We will send a service guide/member booklet giving detailed terms and conditions, losses on your account that you may be liable if your card is lost / misused and other relevant information with respect to usage of your card along with your first card.

d. If you do not recognize a transaction, which appears on your card statement, we will give you more details if you ask us. In cases, where we do not accept you contention we will give you evidence that you had authorized the transaction, in question.

Internet Banking

Online banking is safe and convenient as long as you take a number of simple precautions. Please make sure you follow the advice given below:

a. Visit our internet banking site directly. Avoid accessing the site through a link form another site or an email and verify the domain name displayed to avoid spoof websites.

b. Ignore any e-mail asking for your password or PIN and inform us of the same for us to investigate the same. Neither the police nor we will ever contact you to ask you to reveal your online banking or payment card PINs, or your password information.

c. We advise you not to use cyber cafes / shares PCs to access our internet banking site.

d. We advise you to update your PC with latest anti-virus and spy ware software regularly. You may install security programmes to protect against hackers, virus attacks or malicious ‘Trojan Horse’ programmes. A suitable firewall installed in a computer to protect your PC and its contents from outsiders on the internet is recommended.

e. Disable the ‘File and Printing Sharing’ feature on your operating system.

f. Log off your PC when not in use

g. Do not store your ID /PIN in the Internet Explorer Browser

h. Check your account and transaction history regularly

i. Follow our advice – our websites are usually a good place to get help and guidance on how to stay safe online.

ATM

An automated teller machine [ATM] is a machine in which a customer can use their card along with PIN to get cash, information and other services.

Banking Ombudsman

An independent dispute resolution authority set up by the Reserve Bank to deal with disputes that individuals and small business have with their banks.

Card

A general term for any plastic card, which a customer may use to pay for goods and services or to withdraw cash. In this code, it includes debit, credit, or ATM cards.

Credit Card

A credit Card is a plastic card with a credit facility, which allows you to pay for goods and services or to withdraw cash Cheque Collection Policy Cheque Collection policy refers to the policy followed by a bank in respect of the various local cheques and outstation instruments deposited with the bank for credit to an account. The policy interalia deals with

- Cheque purchase requests

- time frame for credit of cheques

- payment of interest in case of delay in collection of cheques

- instant credit of local and outstation cheques

- cheques instruments lost in transit and charges for such collection

Customer

A person who has an account [including a joint account with another person or an account held as an executor or trustee or as a Karta of an HUF, but not including the accounts of sole traders / proprietorships, partnerships, companies, clubs and societies] or who avails of other products / services from a bank.

Current Account

A form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount.