Abhyudaya Co-operative Bank

1.	What are the documents required to open a saving bank account?
Ans:	Copy of ration card or any other address proof. Identification proof (PAN Card/Passport / Driving License / Election Card)etc all the documents to be self attested and to be verified with the Originals. 2 Photographs.

2.	Whether introduction is compulsory for opening an account?
Ans:	NO.

3.	What is a Scheduled bank ?
Ans:	As per Sec. 2 (E) of RBI act scheduled bank means a bank whose name is included in the second schedule of RBI Act 1934.

4.	What are the Nomination facilities for different types of deposits?
Ans:	Nomination facility is available for all types of deposit accounts and lockers.

5.	Can a person nominate more than one Nominee in case of joint deposit?
Ans:	There cannot be more than one nominee in case of joint deposit

6.	What about Nomination facility in respect of articles kept in safe deposit custody jointly?
Ans:	Nomination facility is available only in case of individual depositor and not in respect of persons jointly depositing articles for safe custody.

7.	Who is Non-Resident Indian (NRI)?
Ans:	Non Resident Indian Means:- A Person resident outside India who is a citizen of India i.e. Indian citizen who proceed abroad for employment or for carrying on any business or vocation or for any other purpose in circumstance indicating indefinite period of stay outside India.

8.	How can an NRI open an Account?
Ans:	Contact the nearest Branch of Abhyudaya Co-op Bank, we would gladly assist in fulfilling the required formalities for opening an account. If the Branch is away then the following documents may be sent to the Branch where account is desired to be opened. Copies of important pages of passport (containing name, signature, birth-date, place/date of issue, expiry date etc.) duly authenticated by Notary Public / Officials of Indian embassy. Two passport size photographs with signature on reverse Remittance for opening an account. Introduction by an existing customer of the Branch or may be verified by the present Banker or by embassy Officials abroad.

9.	Who can open a No-frill account?
Ans:	No Frill accounts are discontinued..

10.	What are the restrictions for No-frill account ?
Ans:	- No Frill accounts are discontinued..

11.	Whether I can withdraw cash from any branch of Abhyudaya Bank?
Ans:	Yes. Maximum Rs. 50,000/- for SB a/c & Rs. 1,00,000/- for CD /FLXLN/SOD a/c per day. Other branch third party payment allowed only to the person whose name appear as payee on the Cheque after proper identification of the person.

12.	Whether I can deposit cheques for realization in any branch of Abhyudaya Bank?
Ans:	Yes.

13.	At what age Minor can operate his a/c of his own?
Ans:	On completion of 14 years.

14.	Whether speed clearing facility is available for realization of outstation cheque for designated centre as per List Published by RBI?
Ans:	- After implementation of CTS, speed clearing facility is discontinued.

15.	When the account becomes Dormant?
Ans:	If account remains inoperative for period of more than 24 months, it is classified as Dormant a/c in Bank’s record.

16.	When TDS is applicable for individuals?
Ans:	If Interest amount on Term Deposits exceeds Rs.40,000/- during a Financial year for non-senior citizens. If customer is a senior citizen i.e. aged 60 years and above, then TDS is applicable if interest amount exceeds Rs.50,000/-.

17.	What is Minimum age for availing additional Interest benefits for Term Deposits?
Ans	60 Years

18.	Whether Bank Offers additional interest on Bulk deposits?
Ans:	Please visit our Deposit rate chart.

19.	Whether TDS is applicable for deposits of Co-op Societies?
Ans:	Yes.

20.	What is the Minimum amount of deposit to be kept in ATSS Scheme?
Ans:	Rs. 5000/-

21.	What is the benefit of deposits under ATSS Scheme?
Ans:	- Can avail benefit u/s 80 – C of Income Tax Act Maximum Upto Rs. 1.50Lakh.

22.	How much amount of Loan that can be sanctioned against Term Deposit?
Ans:	90% of accrued value of deposit i.e. Original Deposit amount plus interest except against ATSS.

23.	What is the Rate of Interest applicable on Loan against Term Deposit?
Ans:	Rate of Interest applicable to Term Deposit + 1% & in case of deposits of Third party then + 2%.

24.	What is the Maximum Loan amount to be sanctioned for purchase of House (Housing Loan) ?
Ans	Rs.70.00 Lakh. This is subject to change, you may also contact Nearest Branch for further details.

25.	How much is the holiday period allowed under-Education Loan Scheme?
Ans:	Duration of Course + 6 Months.

26.	Whether our ATM Card can be used in other Bank’s ATM?
Ans:	Yes, Our ATM card of 504487 RuPay Debit Card of 607261 and 608229 series can be used in more than 2,38,000 ATMs on NFS & BANCS Network.

27.	What are the charges for withdrawal of cash through ATM of Other Banks’ ATM network?
Ans:	First Five transaction free in a month. Afterwords Rs.20 per Transaction.

28.	What is the minimum and maximum amount withdrawn from ATM?
Ans:	Minimum Rs. 100 and Maximum Rs. 25,000 per day.

29.	Who can become guarantor to a loan?
Ans:	Any person having credit worthiness to repay the loan of the borrower in case the borrower becomes defaulter, can become guarantor.

30.	When does the Liability of guarantor crystallize?
Ans:	When principal debtor defaults.

31.	Who can avail Housing Loan from your Bank ?
Ans:	Any Individual.

32.	Whether Stamp Duty / Registration considered for Housing Loan?
Ans:	No.

33.	What is PLR ?
Ans:	It is minimum Prime Lending Rate at which credit line is offered to prime borrowers.

34.	What is the amount upto which pay order can be issued by depositing cash?
Ans:	Less than Rs. 50,000/-

35.	Whether electronic fund transfer, RTGS/ NEFT facility is available with our Bank ?
Ans:	Yes.

36.	What are the Non-Banking Services provided by Bank?
Ans:	- Franking facility is available at Vashi and New Panvel Braches. - Bank is a Corporate agent for L.I. C.,The New India Assurance Company and Religare Health Insurance Company.

37.	What is the Minimum amount for fund that can be transferred through RTGS?
Ans:	Rs.2.00 Lakh

38.	NEFT transactions can be carried out for what amount?
Ans:	Any amount.

39.	What is Service Providers Number for SMS Banking?
Ans:	1) MISSED CALL service for Balance Enquiry from your registered Mobile number : Dial Toll Free number is 18003135235. 2) For HOTLIST ATM/RuPay Debit card: Dial 9223110011 from registered Mobile number ,after 2-3 rings call will be disconnected & System will hotlist the card & you will get SMS confirmation for the same.

40.	What are the services available under SMS pull facility?
Ans:	- Balance request - Transactions in an account.

41.	What is Net-Banking?
Ans:	Net Banking is the Internet Banking Service provided by Abhyudaya Bank for the Customers. Internet Banking facility is available for any new or existing account holder mainly having SB, CD, CC, and FLXLN accounts. Facilities is available for individuals and one individual can get only one IPIN. A firm or a company or trust can apply for such facility subject to Board resolution and authority letter in favour of one of the partner / director / trustee etc. It is a channel for you to experience round the clock banking from any part of the world.

42.	Where do I get the Application form for Net-Banking?
Ans:	One can obtain an application form for Net-Banking from any of the (CBS) branches. The application form for Net Banking is also available on Home Page www.abhyudayabank.co.in

43.	Will I be charged for the facility?
Ans:	No charges, as of now, Net-Banking facility is provided FREE OF COST.

44.	What are the requirements for me to access the facility?
Ans:	You require the following to access the facility: A personal Computer (at least Pentium with Windows XP) An Internet Connection A Browser (Microsoft IE 6.0 or Netscape Navigator 8.0 or latest) User ID provided by the Bank Login and Transaction Passwords

45.	Which is the site to access Net-Banking?
Ans:	You can access Net-Banking through the Bank’s URL www.abhyudayabank.co.in

46.	How to Login?
Ans:	You will have to visit our Net Banking Web site http://www.abhyudayabank.co.in to login Password and Transaction Password sent by us to Net Banking Web Site.

47.	How to obtain User ID and Passwords?
Ans:	You will be issued User ID and Password only against your specific request. You are required to submit the duly filled in application to your branch where the branch will process the application and recommend for Net-Banking facilities to you. You will then receive User ID and Password (QPIN & TPIN) through your base branch.

48.	Can I change my password? How do I change my Password?
Ans:	Yes. You can change your password any time you login. You will be prompted to change your password on two occasions: Immediately after you login with the newly generated password, and on expiry of 90 days from the date of change of your current password.

49.	I have forgotten my password. What should I do?
Ans:	You will have to submit a new application or a letter requesting for regeneration of User ID. We will regenerate the passwords and send the same to you through Courier. Also you can use ibhelp[at]abhyudayabank[dot]net email ID for the same.

50.	Whom should I Contact in case of help?
Ans:	You may contact our Help Desk at IT Department – Tel Nos. 25246445 / 25246825.

51.	What type of facilities available to me on Net-Banking?
Ans:	Balance Enquiry Statements of Account view and printing Cheque Status Request Fund transfer between link accounts of same customer, Pending Instruments, Activity Log Report etc.

FAQ - FREQUENTLY ASKED QUESTIONS

FREQUENTLY ASKED QUESTIONS for E-COMMERCE--click here

FAQ - FREQUENTLY ASKED QUESTIONS

WCAG Compliance

FAQ - FREQUENTLY ASKED QUESTIONS

FREQUENTLY ASKED QUESTIONS for E-COMMERCE--click here

FAQ - FREQUENTLY ASKED QUESTIONS