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Balamithra

Minor/minor with guardian is entitled to open account under the above scheme.

Initial Deposit of Rs.50 is insisted for opening Savings account.

Maximum allowed number of cash withdrawals is 1 per day.  Managers use their discretion to allow more than 1 cash withdrawal.  No charges being levied in such cases.

Customers not allowed to withdraw cash if minimum balance comes below the stipulated amount due to cash withdrawal. Managers use their discretion to withdraw below minimum balance.

No charges being levied for non-maintenance of minimum balance.

Customers allowed to deposit the funds in the Savings account by cash, clearing cheques of other banks, inter account transfers from other accounts, and collection cheques of other outstation centers

Customers can withdraw the funds by withdrawal slips.  Pass books made compulsory during withdrawal time while withdrawing through withdrawal slips.

Withdrawal slips with serial numbers are provided to customers for withdrawal over the counter.

Separate type of pass book is issued to the customers.

When the outstanding reaches 10000, it is converted as fixed deposit under the head FD-Balamithra with the permission of the customer.

No operation should be allowed once customer attained major status.

When the minor becomes major the existing account is closed and the major person advised to open account under SB Individual scheme.

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