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Balanidhi

Institutions such as schools (Govt., Aided or Un-aided) are entitled to open account under the above scheme. Account is operated jointly by Head Master/Mistress with one member among the teaching staff who is authorized by the staff council. Deposits are collected from the students and deposited at the bank once in a week. School authorities keep their own registers and pass book for each student which is supplied by bank.

Initial Deposit of Rs.100 is insisted for opening Savings account.

Withdrawal is made only through cheque books.

No charges for issuing cheque books.

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.

However in case of clearing cheque debits/transfer transactions bank permits the transaction even though account balance comes less than the prescribed minimum balance.

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

Customers allowed to deposit the funds in the Savings account by cash.

With regard to cash deposit in Savings account even a minimum amount of Re.1 is allowed to be deposited for transaction purpose.

Savings Bank cheque books are of 10, 25, 50 and 100 leaves type

Normal interest rate for Savings Bank deposits is also applicable to this deposit

In addition to interest 1% of incentive is giving for the amount deposited during the period. The tenure of paying incentive is once in six months.  The amount received from 1st March to 31st August will be taken for calculating the incentive and will be paid before 10th of September.  Similarly the succeeding half year period will be reckoned for computation of incentive and paid before 10th of March.

The incentive amount will be paid by DD favoring the employee taking initiative to collect the amount (This will be communicated to the bank by the school authorities) instructions by debiting the account “Commission paid on Balanidhi”.

News & Events

12-09-2017
IFS Codes of bank/branches has changed
30-08-2017
Tenders invited for Printing and Supply of Calendars and Diaries for 2018
15-06-2017
Revision of Deposit Interest rates with effect from 16-06-2017
05-06-2017
RBI observing Financial Literacy week from June 5-9 across the Country, be a part of it
05-06-2017
Reminiscence of Sri EV Kumaran-Formar bank president held at bank auditorium on 03-06-2017
13-04-2017
Sri A Abdul Rasheed, Joint Registrar of Cooperative Societies has taken charge as Part-Time Administrator of KDC Bank
31-01-2017
KDC Bank Received the NABARD AWARD for the best financial perfomance and initiative under Developmental field during the year 2015-16
08-03-2017
KDC Bank Customers have secured cash back concerned with the Lucky Grahakh Yojana declared by central government recently for promoting digital transaction.
03-11-2016
KDCB Bank got Special Recognition award in DCCB Category in Banking Frontiers Awards
01-08-2016
Bank will not ask your ATM Card Number and Secret PIN in any case. beware of such frauds
08-04-2016
RTGS/NEFT Facility is absolutely FREE at Our Bank without any limit.
08-04-2016
NRE account facility is available at all branches of KDC Bank. Fix an appointment with our branch at your convenience..
08-04-2016
Customers can now easily change their existing bank to our bank for AADHAAR Linking. Submit the Mandate Form to our branch immediately
08-04-2016
All type Scholarship Schemes for School going students can be availed through their KDC Bank accounts,
05-08-2016
All our customers can now enjoy the facility of DBT and All AADHAAR based payments. Link your AADHAAR Number immediately
08-04-2016
KDCB RuPay Debit cum ATM Card is acceptable in ATMs/Retail Outlets/PoS all over India. Enjoy the convenience of Cashless Shopping Conact KDC Bank Branch for your ATM card
08-04-2016
Unclaimed deposits Transferred to RBI - DEAF(Depositor Education and Awareness Fund Scheme)-2014 for more details see link Downloads
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