Till now,almost in every bank exam we came across at least one question related to BSBDA Account.So,we have decided to give a glance of BSBDA account.This information will be useful for upcoming bank exams RBI assistant mains,KVB,NIACL mains,IPPB.Don't forget to share this information with your friends.
1.BSBDA account is a zero balance savings account that takes care of your simple banking needs with Free ATM card,monthly statement and cheque book.
2.Total Credits in such account should not exceed one lakh rupees in a year.
3.Maximum balance in that account should not exceed 50000 at any time.
4.Total debits by way of cash withdrawals and transfers should not exceed 10000 per month.
5.Foreign remittances can not be credited to small accounts without complaining normal KYC formalities.
6.Small accounts are valid for a period of 12 months initially and extended by another 12 months if the person provides proof of having applied for an officially valid document.
7.Small accounts can only be opened at CBS linked branches of banks or at such branched where it is possible to manually monitor the fulfillments of conditions.
8.An individual is eligible to have only one BSBDA account in one bank.
9.Holder of BSBDA will not be eligible for opening any other savings account inn that bank.If a customer has any other existing savings account in that bank,He/she will be required to close it with in 30 days of opening BSBDA account.Otherwise banks have the right to close that Savings account.
10.One can have Term/fixed deposit,recurring deposit etc accounts in the bank where one have BSBDA.
11.BSBDA is applicable to All Schedule Commercial banks in India including Foreign banks
