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Cent Samvridhi Current Account

  1. Sweep-out request will be processed only if PAN number of the 1st applicant is quoted on the Savings Account Opening Form.

  2. The accounts holder(s) should advise the Bank in writing of any change in residential status.

  3. The customer will be eligible for Senior Citizen benefit, provided age proof is submitted to the Bank More than one (1) Fixed Deposit can be created and linked to the same Resident Savings Account..

  4. Fixed Deposit receipts will be marked as “Under Lien for Auto Sweep facility” and will be in the safe custody of the Bank. System will not mark Lien on FDR.

  5. Sweep - In   facility is available by default on the Fixed Deposits booked through sweep-out

  6. In case the customer/s issues(s) cheques on the linked Resident Savings Account/s, or draw(s) from the ATM or the Bank passes debits in the normal course for recovering dues from the account holder(s), under the “Auto Sweep' facility or withdraw/s moneys from the Resident Savings Account/s in any manner whatsoever, the Bank is authorised to :

    • Honour these cheques/debit/ATM withdrawals/withdrawals through any other means, even if there is a shortfall in the Resident Savings Account/s, provided the shortfall is not more than the aggregate deposits that the customer/s may have with the Bank under the fixed deposit.

    • Prematurely, or otherwise encash the Fixed Deposit/s in units of Rs.25000.00 and multiples thereof to meet the shortfall. If the customer/s has/have more than one deposit under the Cent Samvridhi Current Account, the last Fixed Deposit made under the Cent Samvridhi Current Account will be used first (LIFO) to meet the shortfall and if this is not adequate, the fixed deposit prior to the last fixed deposit will be used and so on and so forth, until the shortfall is fully met.

  7. Default period of linked deposits opened under the scheme will be 3 years.

  8. The term deposit linked under the Auto Sweep “Cent Samvriddhi Current Account” will under unconditional lien to the Bank and the Bank will have the right of set off against dues payable to the Bank. For this purpose, the Bank is within its right to close the deposit(s) prematurely by applying penal rate of interest. Bank’s lien will have priority over any obligation to pay a cheque drawn on the linked current accounts.

  9. The Bank will renew the deposit after crediting interest to current linked account subject to Tax Deduction at Source (TDS) wherever applicable, unless instructions to the contrary are received from the account holder(s). In case of Fixed Deposits of 7 Days to 179 Days, the system will renew the deposit after crediting interest to CD linked account after Tax Deduction at Source (TDS) wherever applicable. In case of Cumulative Cent Uttam Deposits 6 Months to 3 Years, the system will renew the deposit after Tax Deduction at Source (TDS) wherever applicable.

  10. The above-mentioned terms and conditions are subject to change/modification without prior notice.

Deposit Account Opening Form

For Individual (Click This Link For Detailed Instructions)
Click Here To Download

KYC Information

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Part I

Customer Information Form
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Part II

Deposit Account Opening Form
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