PAYMENT OF BALANCE IN ACCOUNTS
OF THE DECEASED CUSTOMERS TO SURVIVORS/CLAIMANTS

As directed by the RBI, the bank may not insist on succession certificate from legal heirs irrespective of amount involved. However, the Bank may adopt such safeguards in considering settling of claims as appropriate including accepting an indemnity bond.

STANDING INSTRUCTIONS

Standing instructions can be given to the Bank for transfer/remittance of funds from one account to other account/s maintained in the same branch, any other branch of the Bank or any other bank or any other third party.

SAFE DEPOSIT LOCKERS

The facility of Safe Deposit Lockers is an ancillary service offered by the Bank. (The Bank's branches offering this facility will indicate / display this information.)

The major aspects governing the services are:

1. A locker may be hired by an individual (not minor), firms, limited companies, specified associations and societies, etc.

2. Nomination facility is available to individual hirer of Safe Deposit Locker.

3. Lockers are available in different sizes.

4. Lockers are rented out for a minimum period of one year. Rent is payable in advance. In case of overdue rent, the Bank will charge penalty as decided from time to time.

5. With standing instruction, the rent may be paid from the deposit account of the hirer.

6. The Bank will hire locker to properly introduced persons.

7. The Bank reserves right to break open the locker if the rent is not paid in spite of giving notices as per the Bank rules and recover charges thereof.

8. Loss of key should be immediately informed to the Branch.


ARTICLES IN SAFE CUSTODY

Articles like shares, securities, etc. ,can be kept in safe custody with the Bank on prescribed charges wherever such facility is offered.Large/small boxes must be locked by the customer(s) and particulars must be written/painted thereon. The lock should be covered by stout cloth and sealed with the customer's seal. Relationship of Banker and customer shall be that of bailer and bailee.

NOMINATION

Nomination facility is available for all deposit accounts, articles in safe custody and safe deposit vaults.

Nomination is available for accounts opened in individual capacity (i.e. single/joint accounts as well as accounts of a sole proprietorship concern) only, i.e. not for accounts opened in representative capacity.

Nomination can be done in favour of one person only. However, nomination in favour of more than one person (i.e. upto 2 persons) is permissible in jointly operated locker accounts with common consent.

Nomination can be made, cancelled or varied by the account holder anytime during his/her life time. While making nomination, cancellation or variation, witness is required and the request should be signed by all account holders.

Nomination can be made in favour of a minor also.

For the existing accounts where nomination is not made, the account holder/s can do so by filling up form available with the branches.

Customers (new as well as existing) are advised to avail nomination facility, if they have not availed so far.

PENSION PAYMENTS :

Pensioners of Central and State Government can open a separate pension account in any of our branches.

Pensioners are requested to produce the life certificate once in a year (i.e. in the month of November) to enable the branches to pay pension without interruption/delay. Every pensioner is required to submit life/marriage/remarriage/unemployment certificates periodically.

The pension will be credited by the branch to the pensioner’s savings or current account during the last four working days of the month. The pension for the month of March will be credited on or after 1st working day of April.

The pension will not be paid in cash. Money can be withdrawn by Cheque / withdrawl slip/ATM Card as account is governed by general banking rules after crediting pension to account. Pension account can be opened jointly with spouse.


REMITTANCE SERVICE

Customers may remit funds from one centre to another centre by Demand Draft or Telegraphic Transfer (TT), / MBB etc., by paying specified charges as per the Bank's rule.

The customers can utilise the facility of Electronic Funds Transfer (EFT) System operated through RBI for transferring funds upto 2 crores to and fro Chennai, Delhi, Mumbai, Ahmedabad, Banglore, Hyderabad, Jaipur, Kolkata, Nagpur, Bhubaneshwar, Chandigarh, Guwahati and Thiruvananthapuram. Customers can also utilise the Special Electronic Funds Transfer (SEFT) system recently introduced by RBI which is available through networked branches of the Bank.

Demand drafts, mail transfers, telegraphic transfers and travellers cheques for Rs.50,000 and above will be issued by the banks only by debit to the customer's account or against cheques or other instruments tendered by the purchaser and not against cash payment. Similarly, such payments for Rs.50,000 and above will be made through banking channels and not in cash.