Pigmy Deposit
ELIGIBILITY
- Saving Account is compulsory.
- Any Resident Individual - Single Account.
- Two or more individuals in Joint Accounts (maximum 4 persons).
- Illiterate Persons.
- Visually Impaired Persons.
- Minors.
- Associations, Clubs, Trusts, Institutions/Agencies, Partnership Firms, Private Limited Companies, and Proprietorship Concerns.
FEATURES
- Door-to-door banking facility.
- Pigmy deposit collection will be carried out by our authorized agents.
- Daily installments can start from as low as Rs. 50/-.
- An account can be opened for a period ranging from 6 months to 12 months.
- The installment amount selected at the start of the scheme will be payable every day.
- The number of installments once selected cannot be altered.
- The maturity amount will be paid on the maturity date.
- Nomination facility available.
- Initial deposit for opening a Pigmy Deposit Account starts from Rs. 50/-.
RATE OF INTEREST
Interest @ 4.00% per annum is calculated on a monthly product basis and will be credited at the time of closing the account.
Pass Book
A passbook will be issued to every Pigmy Deposit account holder. The passbook will contain the account number, depositor's name and address, and details of all transactions including date-wise deposits and balance.
DOCUMENTS REQUIRED FOR OPENING AN ACCOUNT
- Two copies of recent passport-size color photographs.
- Proof of residence (Passport, Driving License, Ration Card, Voter ID Card, Electricity Bill, Aadhaar Card, etc.).
- Valid Photo Identity Proof.
- Introduction from a person known to and acceptable by the Patsanstha.
- Permanent Account Number (PAN) Card with original document for verification.
- Initial deposit in cash.