Little drops of water make a mighty ocean - This deposit scheme suits the needs of everyone viz. businessmen, professionals, wage earners, teachers, salaried personnel, traders, housewives etc. You can save money with the Bank regularly depending on your convenience. And you need not visit the Bank for doing so. The Bank’s authorised Agent collects your savings at your doorsteps at regular intervals. And your money silently grows over 63 months into a lumpsum for meeting your future commitments e.g. daughter’s marriage, children’s education, family functions, house purchase etc.
- Pigmy deposit is a daily deposit. It is nothing but a daily deposit scheme which encourages daily saving and daily investing.
- It allows you to invest a little amount. ...
- It works as your piggy bank. ...
- Lifeline for emergency. ...
- Loan availability. ...
- Customer can Open Pigmy A/c with minimum of Rs.50/- per day.
- Customers can open Pigmy A/c for 1,2 or 3 years. Interest rates are applicable to Pigmy deposits
- Guardian can open Minor’s Pigmy A/c. When minor turn major then after providing valid age proof he/she can withdraw the amount with his/her signature.
- We offer nomination facility for all deposit accounts.
Rules & Regulation for Recurring Deposit
- Customer can Open Pigmy A/c with minimum of Rs.50/- per day.
- Guardian can open Minor’s Pigmy A/c. When minor turn major then after providing valid age proof he/she can withdraw the amount with his/her signature.
- In exceptional case of premature of Pigmy deposit is available.
- The prematurity before one year is not eligible for the calculation of interest
- In the event of Death of the Depositor, the nominee should complete all legal procedures and receive the balance amount within two months.
- Customers have to produce Passbook at the time of instalment and maturity.
- The Board of Directors of the Bank having all rights to change the rules and regulation for the scheme as per RBI directive.
Requirements
- Valid Photo I.D.(Any one of proof (Photo I.D.))
- Passport,
- Driving License,
- Voter ID Card,
- Government Approved College/university I.Card,
- Government/Semi government/Department I.Card
- Address Proof(Any One)
- Electricity Bill (not more than 2 months old)
- BSNL Landline Telephone Bill (not more than 2 months old),
- Municipal Tax Bill
- Latest LIC Premium receipt
- Other proof acceptable by Bank.
- Passport Size Photograph – 2 Copies
- Pan Card
- Aadhar Card
- Birth Certificate for minor account
