Basic Savings Bank Deposit Account (BSBD)
With the concept of Financial Inclusion thereby to include larger cross-section of population, who are at the bottom of the pyramid, to avail of the banking services who could not avail of the same on account of some restrictive clauses such as minimum initial deposit, maintenance of minimum balance and who do not have a PAN number etc., a Special Deposit Account - Basic Savings Bank Deposit Account is introduced.
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No Minimum Balance, No initial deposit to open the account.
No restrictions like Age, Income Criteria for opening BSBD Account.
All provisions of KYC, AML, PML are applicable.
Passbooks are given free.
Maximum of Four withdrawals in a month including ATM withdrawals;
RuPay ATM Cum Debit Card with Accidental Insurance of Rs. 1.00 Lac free
No charges for all the above facilities
The Hon’ble Prime Minister in his Independence Day Speech on 15th August, 2014 announced a comprehensive program of Financial Inclusion targeting the large number of people who are currently deprived of even rudimentary financial services. The PradhanMantri Jan DhanYojana (PMJDY) sets out to provide a basic Bank account to every family who till now had no account.