Saving is Must Necessary for a Happy Life

Saving Account

Saving money habit will improve the quality of life and will help you to feel better and to sleep better. One will be happier knowing he/she has some money aside or unexpected expenses and look forward to achieve some of their dreams. PURVANCHAL MUTUAL BENEFIT NIDHI INDIA LIMITED has introduced uniquely designed "Saving Account: to inbuilt the habit of saving among people.

Main Features Saving Account
Minimum Deposit Rs 1000/- only
Nomination Facility Yes
Rate of Interest 6.00%
SMS Facility Yes
Passbook Facility Yes
Account Statement Yes


  • Minimum balance should be Rs. 1000 with effect from 01.01.2021
  • Before opening of Saving Account any Individual have to apply for Membership.
  • 6% p.a. interest payable on Individual / Joint Account
  • Minimum balance should be maintained.
  • Cash deposit above Rs. 49,999 PAN Card is compulsory.
  • The depositor is required to fill a form prescribed under the Banking Companies (Nomination Rules) 1856, compulsory for every member who deposits with PURVANCHAL MUTUAL BENEFIT NIDHI INDIA LIMITED and in cases where the nominee is a minor; a guardian should be competently appointed.
  • Account can be transferred from Mother Branch to Other Branch
  • One saving account can be opened in one member only.
  • Account can be opened in the name of minor and a minor of 15 years and above age can open and operate the account.
  • Joint account can be opened by two adults only.
  • At least one transaction of deposit or withdrawal in 3 months (90 days) is necessary to keep the account active.
  • Single account can be converted into Joint account.
  • ATM/NEFT/RTGS/IMPS facility is not available.
  • Please produce the original documents for verification and a photocopy of each document.
  • Mandatory to provide permanent address and telephone number.
  • Mandatory to complete the KYC Norms.

Issue of Passbook:

A passbook will be issued to every Member Account Holder. The Member Account Holder shall get the passbook updated at regular intervals. If any discrepancy or difference in the amount is found between the entries made in the passbook and receipts duly countersigned by the authorized signatory of the branch office bearing seal. Payments shall be made on the basis of receipts only.