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Consolidated Results of e-Voting & Poll at the Annual General Meeting

Link to LDM Malda Website

  May We Reach ?
United Basic SB Account
 

1. Target Group :


   Any un-banked population segment uptill denied basic banking facilities due to stipulation of minimum balance requirements and levying of service charges. The target group will include low-income families in rural/ urban areas, industrial/ agricultural labourers in rural/ urban areas and non-pensioner senior citizens.

2. Area of operation :


   From all the branches of the Bank.

3. Eligibility :


   The account may be opened in the name of an individual or in the name of two or more individuals.In case of Joint account, it can be operated jointly or severally, with either or survivor (or) former or survivor clause. Account may be opened in the name of minor, to be operated by natural guardian. Minor at the age of 13 can operate account individually. An illiterate person can also open account jointly with literate but in that case, the mode of operation will be ‘Former or Survivor’ where illiterate would operate the account and literate will be the survivor

4. Initial deposit and Minimum balance :


   The account can be opened and continued with even 'zero' balance.


5. Introduction & KYC Norms :


   As per KYC norms required for opening normal SB accounts. In case a person who wants to open a Basic SB account is not able to produce any of the documents necessary for completing KYC norms of the Bank, the bank may open as per relaxed KYC norms circulated from H.O. time to time.


6. Number of transactions in the account :
  • For deposits – No restriction.
  • For withdrawals - Maximum 5 withdrawals p.m. A charge of Rs. 5/- per month for every additional withdrawal transaction.

7. Cheque Book :


   One free cheque book containing 10 leaves will be issued every calendar year under the following terms and conditions.

  • For cheque book facility minimum balance would be Rs. 250/-.

   Subsequent issuance of cheques will, however, be charged as per normal Saving Bank Account


 
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