Corporation Bank has various savings account schemes that cater to all categories of customers. These accounts help the customers to organise their finances & also earn an annual interest of 4% on the daily minimum balance. An individual can choose account schemes that suits one's requirement
For opening an account with Corporation Bank, one has to submit duly filled in application form at the nearest branch. Along with the form, it is necessary to submit all the required KYC documents. Once the account is activated, the account holder is provided with welcome kit & debit card and transactions can be started.
1. Regular Savings Account
This is a basic account & comes with features like transfer of funds through NEFT /RTGS, any branch banking, personalised cheque book, card to card transfer, mobile recharge through ATMs & SMS, e-payment facility& international debit card.
An account holder has to maintain quarterly average balance of Rs. 500, except in rural branches, where the quarterly average balance is Rs. 250, failing which non maintenance quarterly fee of Rs 100 shall be levied.
A fee of Rs. 100 shall be charged for inward clearance of cheques & 50% of the collection charges, subject to a minimum amount of Rs. 60 shall be charged for return of outward clearance of cheques. In case of return of cheques due to insufficient funds three times & above, fee of Rs. 200 per cheque shall be levied.
2. Corp Classic Savings Account
This account has the benefit of both savings account & term deposit. Term deposit period offered is for 15 days to 5 years. The account offers features like personalised cheque book, internet banking, Insurance & mutual fund and payment towards advance tax. A minimum balance of Rs. 15000 has to be maintained.
A fee of Rs. 100 shall be charged for inward clearance of cheques & 50% of the collection charges, subject to a minimum amount of Rs. 60 shall be charged for return of outward clearance of cheques. In case of return of cheques due to insufficient funds three times & above, a fee of Rs. 200 per cheque shall be levied.
3. Corp New Gen Savings Account
This account is designed especially for students and comes with features like internet banking, SMS banking, debit card & collection of cheques. A minimum balance of Rs. 100 has to be maintained.
4. Corp Pragati Account
This account can be opened by any resident individual over the age of 10 years with a minimum amount of Rs. 10. This account is provided with features like passbook, nomination, collection of outstation cheques & remittance.
5. Corp Saral Savings Account
This account is designed with features like internet banking, personalised cheque book, issue of free demand draft, online opening of FD/RD accounts & complimentary personal accidental policy of Rs. 1 lakh. Average Quarterly balance of Rs. 1000 has to be maintained.
6. Corp Signature Account
This account features benefits like unlimited cash withdrawals from ATMs, high POS limit, first year concession of 50% on locker, free personal accidental policy of Rs. 10 lakhs, five free RTGS transactions in a month & free signature debit card. Personalised cheque book & 100 free cheque leaves are provided in a financial year & thereafter, for each additional cheque leaf, Rs. 4 shall be charged.
This account is a premium account in which one has to maintain average quarterly balance of Rs. 100000, failing which a quarterly fee of Rs. 500 + service tax shall be levied.
7. Corp Super Saving Account
This account features benefits like high withdrawal limits at POS/ATM, two free RTGS transactions in a month, free platinum debit card, concession of 25% on locker rent, concession of 50% on issue of demand drafts & other certificates and free personal accidental coverage. Personalised cheque book & 60 free cheque leaves are provided in a financial year & thereafter, for each additional cheque leaf, Rs. 4 shall be charged.
The account holder has to maintain a minimum quarterly balance of Rs. 15000, failing which a quarterly fee of Rs. 150 + service tax shall be levied.
8. Corp Mahila Power Account
This account is meant especially for women in the age group between 21 & 60 years and can be operated either singly or jointly. A quarterly average balance of Rs. 25000 is to be maintained, failing which a fee of Rs. 100 shall be charged.
The main features of this account include internet banking, SMS banking, personalised cheque book & debit/ATM card. The bank provides MPower Take Off loan up to 10 times the Quarterly Average Balance of last two quarters, taking into account the income of account holder.
9. Corp Arambh Savings Account
This account is designed to offer all the banking requirements of the customer. This is a zero balance savings account. This account comes with features like passbook facility, nomination facility, and collection of outstation cheques, inland remittance facility and NEFT/ABB facility.
10. Corp Saral Plus Savings Account
This account can be opened by any resident individual & comes with features like mobile banking, free NEFT facility, e-passbook, free demand draft through net banking, and complimentary personal accidental cover of Rs. 5 lakhs. The account holder is provided with a 20 cheque leaves free in a year & thereafter, for each additional cheque leaf, Rs. 4 shall be charged.
