Premium SB Account

This scheme is basically a value-added SB product. The scheme will be initially introduced at 500 selected branches.

  • The initial deposit on opening of an account should always be paid in cash. Minimum amount to be deposited as initial deposit is as follows.
  • 25% discount on all Service Charges across the board for transaction through the account for Any Amount and Any Number of Times.
  • Instant credit of all outstation cheques up to Rs.25,000/-
  • 25% discount on Processing Fees across the board for all types of Retail Loans from the branch.
  • Free Personal Accident Insurance cover of Rs.1.00 lac.
  • Free International Debit cum ATM card.
  • Free Remittances, not exceeding twice in a month, to debit of the account.
  • Safe Deposit Lockers on priority basis.
  • Cheque book with depositor’s name printed thereon.
  • Attractive folder to contain cheque book and pass book.
  • Existing savings account holder can shift to AllBank Premium SB Account by giving an application along with the declaration.
  • All the new accounts opened under the new scheme should comply with the KYC norms as per the extant guidelines of the Bank.
  • For Rural branches, the account holders are required to maintain a minimum balance of Rs.5000/-.
  • For Other branches, the account holders are required to maintain a minimum balance of Rs.20000/-.
  • The scheme is not applicable for Institutional Accounts.
  • If the stipulated balance is not maintained in the account, a penalty of Rs.25/- will be levied once in a month. However, if the balance continues below the stipulated minimum balance for more than three months, the account will be ceased to be considered as AllBank Premium SB Account.
  • Closure of account will attract a service charge of Rs.100/-.
  • In cases of collection of cheques at discounted rates all the out of pocket expenses will have to be borne by the account holders.
  • Proof of Identity: Photocopy required of any one.
  • PAN Card

  • Passport (along with validity details like date of expiry.

  • Driving License

  • Voter ID Card

  • Identity card with photo issued by: Central Government and its departments, State Government and its departments, Statutory / Regulatory Authorities, Public sector undertakings.

  • Proof of Address: Photocopy required of any one.
  • Passport

  • Voter Id

  • Driving License

  • Bank Passbook / statement.

  • Latest electricity bill or Landline Telephone bill (atleast 3 months old).