CSB Bank Account Opening Form, Minimum Balance, Docs & Charges

How To Open CSB Bank Account | CSB Bank Account Opening Form | CSB Bank Account Minimum Balance | CSB Bank Account Docs & Charges

In the form of savings accounts, Catholic Syrian Bank provides simple solutions for your savings needs. CSB offers financial services through a nationwide network of more than 420 bank locations. You can also use the bank’s desktop and mobile applications to access your savings account at any time. The article will tell you more about the CSB Bank Account Opening Process and other related details.

CSB Bank Account Opening

Rate of Interest on CSB Bank Account Opening

The following are the interest rates for various EOD balances of domestic savings bank deposits accounts:

End of Day (EOD) BalanceRates of Interest (p.a.)
Up to Rs.1 lakh2.10% p.a.
More than Rs.1 lakh up to Rs.5 crore2.75% p.a.
More than Rs.5 crore up to Rs.13 crore3.85% p.a.
More than Rs.13 crore up to Rs.20 crore4.25% p.a.
More than Rs.20 crore3.90% p.a.

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Service Fees & Charges on CSB Bank Account Opening

The following are the monthly limits and fees for various client categories:

ParameterSilverGoldDiamondPlatinum
Minimum balanceRs.10,000Rs.20,000Rs.30,000Rs.1 lakh
Penalty for non-maintenance of minimum balanceRs.200Rs.200Rs.200Rs.500
Free limits per monthSilverGoldDiamondPlatinum
Cash withdrawalRs.50,000Rs.1 lakhRs.1,50,000Rs.5 lakh
Cash depositsRs.50,000Rs.1 lakhRs.1,50,000Rs.5 lakh
Fund transferRs.2 lakhRs.3 lakhRs.4 lakhUnlimited
At par facilityRs.2 lakhRs.3 lakhRs.4 lakhUnlimited
Cheque collectionRs.2 lakhRs.3 lakhRs.4 lakhUnlimited
Total limitsRs.7 lakhRs.11 lakhRs.15 lakhUnlimited

The following are the charges for usage over the free limits:

  • All cash transactions are subject to a fee of Rs.1 per thousand, with a minimum value of Rs.25.
  • All transfer transactions are subject to a fee of Rs.5 per lakh.

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Types of Savings Accounts Offered by CSB

CSB offers a variety of savings accounts. Customers can open the following types of savings accounts with CSB:

General Savings Account

This account is available to individuals and can be held alone or jointly. This account is also open to non-trading organizations or institutions. Customers can open an account in a rural or semi-urban branch for a minimum of Rs.500. Customers in metropolitan areas or metros will be required to deposit a minimum of Rs.1,000 to open an account. This savings account includes a multi-city checkbook. A CSB general savings account can be transferred to another branch without incurring any fees.

CSB Social Support Savings Scheme

The CSB Social Support Savings Scheme is a new product from the bank that aims to increase financial inclusion. The savings account provides basic banking services to people living in rural areas.   Anyone over the age of 18 is eligible to apply for this account. There are no minimum balance requirements for this account. Account customers are given a free ATM/Credit/Debit card.

There are no fees for up to ten transactions per month. A service fee of Rs.5 per transaction will be charged for subsequent transactions. On request, the CSB Social Savings Scheme Account can be converted to a standard SB account.

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CSB Students Support Savings Scheme

Customers must be students in recognized schools from standard 1 onwards to be eligible for the CSB Students Support Savings Scheme. Students pursuing a diploma, a bachelor’s degree, a professional degree, or a postgraduate degree are all eligible to apply for this account. This is a zero-balance account in which there is no requirement to maintain a minimum balance. Debit cards are provided to account holders at no cost. There are no checkbooks available. Debit cards can also be used to withdraw cash from ATMs.

CSB Suvidha Plus Scheme

For corporate personnel, this is a group salary savings account. Individuals who earn a monthly salary of Rs.5,000 or more are eligible for this account. There is no requirement for a minimum balance. There are no fees for up to ten transactions per month. After that, there will be a service charge of Rs.5 for each transaction. The account holder will receive a complimentary debit card that can be used at any ATM. There is also the option of using a multi-city checkbook.

There are no fees for up to ten transactions per month. A service fee of Rs.5 per transaction will be charged for subsequent transactions. On request, the CSB Social Savings Scheme Account can be converted to a standard SB account.

CSB Suvidha Plus Scheme

For corporate personnel, this is a group salary savings account. Individuals who earn a monthly salary of Rs.5,000 or more are eligible for this account. There is no requirement for a minimum balance. There are no fees for up to ten transactions per month. After that, there will be a service charge of Rs.5 for each transaction. The account holder will receive a complimentary debit card that can be used at any ATM. There is also the option of using a multi-city checkbook.

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Key Features and Benefits of CSB Bank Account Opening

The following are the key features of the Catholic Syrian Bank’s general savings account:

  • Individuals and non-trading institutions can open a general savings account either individually or jointly.
  • Checkbooks that can be used in different cities are sent to account holders.
  • A minor of at least 12 years of age can open an account.
  • If a minor between the ages of 12 and 14 is present at the bank branch for each withdrawal, he or she can run the account independently.
  • If the kid is over the age of 14, he or she can manage the account alone, just like an adult.
  • Interest is accrued on a daily basis on a savings bank account, and it is paid half-yearly. Payments are made twice a year, in March and September.Account holders can use the bank’s free mobile or internet banking services.
  • Account holders have access to a nomination service, NEFT/RTGS services, and Any Branch Banking (ABB) services.
  • The account holder can set up automatic payments for premiums, rent, and other items.
  • Cheques, dividend warrants, drafts, and other forms of payment are accepted for account credit.
  • The account holder has the option of transferring the account to another branch. This service is provided without charge.

FAQ’s

What is the minimum and maximum amount that the bank will accept for NEFT/RTGS transactions?

The minimum amount for RTGS is Rs.2 lakh, while the highest amount is unlimited. There are no minimum or maximum amounts for NEFT transactions.

How long does it take for funds to be transferred from one account to another via RTGS?

In most cases, the recipient bank will receive the payments as soon as the remitting bank completes the transaction. Within two hours, the beneficiary’s bank will credit the cash to the beneficiary’s account.

When funds are transferred by NEFT, when will the payment be received by the beneficiary?

The transferred funds will be remitted to RBI within one hour after the transaction. When the beneficiary’s bank processes the payment, the beneficiary will receive the credit.

I need to transfer money from one account to another. How can I find out the receiving branch’s IFSC code?

The beneficiary of the fund transfer might get his or her bank’s IFSC code from the branch. This code can also be found on the check leaf. The code number and bank branch information should be communicated to you by the recipient client so that you may complete the fund transfer.

Who should I contact if money is delayed or not credited to the beneficiary account?

For assistance, please contact your local bank branch. The following are the contact details for CSB’s Customer Facilitation Centre:
Address – Catholic Syrian Bank, Chief Manager, DJM Bldg, Market Road, Ernakulam, Kochi-682011, Kerala
Contact number – 0484-6460171/ 0484-6460159/ 0484-6460167
Fax – 0484-2362747
Email – rtgs@csb.co.in, tojose@csb.co.in

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