Terms & Conditions
As notified in terms of Govt. of India notification dated December 16, 2010, BSBDA-Small Accounts would be subject to the following conditions:
- Total credits in such accounts should not exceed INR 100,000
- Maximum balance in the account should not exceed INR 50,000 at any time
- The total of debits by way of cash withdrawals and transfers will not exceed INR 10,000 in a month
- Foreign remittances cannot be credited to Small Accounts without completing normal KYC formalities
- Small Accounts are valid for a period of 12 months initially which may be extended by another 12 months if the person provides proof of having applied for an officially valid document
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