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Terms and
Conditions

  • 1.
    • Hours of business will be as declared by the respective Branches.
    • Interest will not be paid on the balances of the Current Accounts
  • 2. Cheque book will be issued free of charge. However taxes etc., levied by the Government from time to time and MICR charges will be debited to the Current Account. Further the Bank reserves the right to refuse to pay drawings in any other form other than by a cheque. In the use of cheques, customers are requested to pay careful attention to the following.
    • No unauthorized person shall be allowed access to Cheque Books. The Bank will not be held responsible in the event of a cheque being paid on forged signature/signatures through the negligence of the customer in handling the Cheque Books issued to the customer or otherwise.
    • In signing cheques, the signature placed thereto should be identical with the specimen signature appearing in the specimen signature card kept with the Bank.
    • In Issuing a cheque, the amount for which it is drawn should be clearly written both in words and figures using same language, and should not leave any space facilitating any addition of figures or words thereafter
    • Should it become necessary to make any alterations to a cheque, such alterations should be authorized with the full signature of the Drawer.
    • The Bank may decline to pay any cheque bearing a date that is six months or more previous to the date of presentation for the payment.
    • The Branch should be notified forthwith in the event of a loss of a cheque leaf or the Cheque Book issued to a customer.
  • 3. Customers are also requested to pay careful attention to the following
    • Should ensure that the counterfoils or the receipts issued for each deposit made to one’s account has been signed by an Authorized Officer of the Bank. However this is not necessary for the computer printed receipts.
    • Should ensure that the counterfoils or the receipts issued for each deposit made to one’s account has been signed by an Authorized Officer of the Bank. However this is not necessary for the computer printed receipts.
  • 4. Customers in making withdrawals from their accounts should pay careful attention to the following.
    • Customers should not exceed the available balance, unless prior arrangements have been made with the Bank.
    • A Customer should take into account all the cheques that have been issued but have not been presented to the bank for payment, in determining the balance available for the issuance of further cheques.
    • The Bank reserves the right to refuse payment for cheques issued in contravention of these rules and to rules prescribed by the Bank from time to time.
  • 5. The Bank reserves the right to reverse credit entries related to unrealized cheques, when the Bank comes to know that the relevant cheques deposited have not realized.
  • 6. The Bank will furnish to each current account holder a monthly Statement of Account. The Statement should be carefully checked on receipt and any error or discrepancy brought to the notice of the Bank within 14 days on receipt of the statement.
  • 7. TRUSTS will not be accepted by the Bank.
  • 8. The Bank will charge commissions as and when necessary. Commission will also be charged on every cheque being dishonored and also on every cheque payment which is stopped by the account holder upon a written request. The Bank will record written instructions received from a Drawer to stop payment of a cheque. However in a situation other than the above, Bank shall not undertake any responsibility in case such instructions are not carried out.
  • 9. The Bank reserves to itself the right of altering, amending or adding to these terms and conditions, and such altered, amended or added terms and conditions shall immediately on their coming in to force, be deemed to be binding on all customers whether or not they have received notice.
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