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Product Details
Bank Name
Bank of Maharashtra
Account Name
Lok Bachat yojna
Account Type
Saving
Interest Rate
2.75%
Free Debit Card
Classic Contactless Card: NIL
Platinum Card:Rs.100/-
Account Opening Fees
Annual Maintenance Fees
Nil
Minimum Account Balance
Minimum balance criterion is not applicable to this scheme.
Debit Card Charges
Platinum Card:Rs.100/- Annual
Maintenance - General Public Ist year Free
Rs. 200 from second year onwards
NEFT Charges
Digital Mode : FREE
IMPS Charges
Not mentioned
Fees and Charges
Lok Bachat yojna
75.7
Special Features
Account can be opened with any amount. It can be as low as Rs. 1/- (Rs. One only).
Eligibility Criteria
Any individual who falls in the category of below poverty line (BPL) can singly / jointly open the account. The joint account holder should also
belong to BPL category. Minors from BPL family are also eligible to open an account.
In case the customer is unable to give any documentary proof of identity & address, to the satisfaction of the bank, the account can be
opened with the introduction from existing account holder who has been subjected to full KYC procedure & having satisfactory operations in
the account over six months. Subject to condition that balance in all accounts taken together should not exceed Rs. 50000/- & credit
summation Rs. 1 lakh during the year
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
One chequebook of 10 pages allowed free of cost.
VISA/INSTA ATM- cum- Debit card facality available to new & existing accounts for the scheme.
Cons
Very low interest rate
Application Procedure
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Product Review
Account Opening and Procedure
How to open an Account?
Application Procedure
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