WHO CAN OPEN Demand Deposits?
- Demand Deposits can be opened by :
- An individual on his/her own behalf
- More than one individual jointly
- A guardian on behalf of a minor
- An illiterate person
- A blind person
- Clubs associations( registered or unregistered),
charitable and religious institutions, trusts, local bodies,
Housing co-operative societies and such other bodies of
identical nature. It may be noted that a savings bank account
can not be opened in the name of trading or business concern,
whether such concern is proprietary or partnership firm,
a company or association.
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WHO MAY OPEN Time Deposits:
Time Deposits may be opened in the name of :
- Individuals ( single accounts
)
- Two or more individuals( Joint Accounts ),
- Sole proprietary concerns,
- Partnership firms,
- Hindu joint family firms,
- Private and public limited companies,
- Public corporations, Registered/Unregistered
Societies or Associations.
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Reserve Bank of India has authorised us to
accept and maintain the following types of Non-Resident Indians
(NRI) accounts.
- NON-RESIDENT (EXTERNAL) RUPEE ACCOUNT (NRE)
The following of our branches are authorised
to accept the accounts of NRIs.
Sion
(Main branch) |
240, Shankar Sadan, Sion( E), Mumbai - 400 022 |
2409 5174 / 2401 4190
Tele-fax |
| Andheri
(East) |
2/C, Poonam Nagar, Poonam Vihar, Mahakali Caves
road Andheri(E), Mumbai 400 093. |
2820 3196 / 2838 7293
Fax: 2820 3197 |
| Mulund
(West) |
35/5, Corner Court Opp. Lokangan Mulund colony,
Mulund (W) Mumbai - 400082. |
2569 0499 Fax: 2590 6235 |
| Oshiwara |
Shop No. 27 - 28, Oshiwara Shopping Complex Scheme,
MHADA, Oshiwara Link Road, Oshiwara, Mumbai -
400 102. |
2630 2426/ 7 Tele-fax |
| Versova |
Shop no. 1, Flat no. 7,
New Akhand Jyot premises Co-op. Soc. Ltd., Manish Nagar, Andheri( W ),
Mumbai 400 053.
|
2637 0687 / 1378 / 3841
Tele-fax : 2623 5303 |
| Bhandup
(West) |
Guru Nanak English School, Station Road, Bhandup
(W), Mumbai - 400 078. |
2594 7101 / 02 |
| Vasai
(East) |
Link Road, Opposite Agarwal Township,
Next to Vasant Nagri,
Nallasopara (East), Thane - 401 209. |
(95250) 2464336 / 22464175 |
| KoparKhairane |
Kasturi, Plot No. 88, Sector - 6, Navi Mumbai. |
2754 7544 / 6413 / 6658 |
| Bandra |
84, Pali Junction, Pali Road, Dheeraj Corner,
Above Punjab Sweet House, Bandra (W), Mumbai - 400 050. |
2655 1383 / 82 |
| Chembur |
10/a Parijat, Atur Park,
Sion-trombay Road,
Chembur, Mumbai-71. |
2521 5215 / 2520 1340 |
| Ghatkopar (E) |
Guru Nanak High School, Ramabai colony , Ghatkopar(E),
Mumbai 400075. |
25283649 / 25243997 |
| Fort |
264, 1st floor, Gurudwara Bldg, Shaheed Bhagat
Singh Marg , Fort,
Mumbai - 400 001. |
6620 2403 / 6620 2444 |
| Carnac Bunder |
69, Uttam House, P. D'mello Road,
Carnac Bunder,
Mumbai 400 009 |
2348 3905 /
2348 3906 /
2348 3907 |
| Vikhroli( E ) |
25, MHADA complex. Opp. Pandav Nursing home; Ram
Hazare Marg, Vikhroli ( E ), Mumbai - 400 083. |
25746984 / 25743517 |
| Kandivili( E ) |
Hanuman Nagar, Akurli Road, Kandivili( E ),
Mumbai 400 101 |
28876705 / 6 |
| Vashi |
Apna Bazar Bldg, 1st Floor, Plot NO.2 ,
Sector No.17, Vashi,
Navi Mumbai.- 400 703 |
2765 0505 / 0800 |
| Airoli |
Shreeji Dham, Plot NO. 7 Shop
No. 13,14 & 15,
Sector 7, Airoli,
Navi Mumbai - 400 708 |
2760 4968 / 4954 |
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Who can open an NRI account ?
- Indian citizens who stay out of India ( Other
than Nepal and Bhutan ) for the purpose of employment, business
or vocation or for any other purpose indicating his intention
to stay outside India permanently or for an uncertain period.
- Indian citizens working abroad on assignment
with any foreign Government, Government agencies or with
International / Regional agencies like United Nations Organisations
including its affiliates.
- Official of Central and State Governments
and Public Sector undertakings deputed abroad on assignment
or posted to their own overseas offices (including Diplomatic
Missions).
- Indians who have settled abroad permanently.
- Indians who have gone abroad on Immigration.
- Foreign national of Indian origin (other
than citizen of Pakistan and Bangladesh).
- Foreign national spouse of a Non-Resident
Indian citizen or of a person of Indian origin (other than
citizen of Pakistan and Bangladesh).
- Overseas Corporate Body (OCB) which is predominently
owned directly or indirectly to the extent of at least 60%
by NRIs including any overseas trust in which not less than
60% beneficial interest is irrevocably held by NRIs directly
or indirectly.
What are the requirements for opening an NRI
a/c ?
The prospective account holder has to submit
the following to our authorised Branch for opening NRI Account:
- Photocopy of the passport of the proposed
account holder providing name, address, citizenship of the
proposed account holder, Date of issue and date of expiry
of passport, date of departure from India, date of arrival
in India if any of the passport holder. (In case of joint
account holders the particulars of joint account holders
are to be submitted).
- Photocopy of Visa of proposed account holder
showing purpose of visit to foreign country or resident
permit, work permit or shipper's Identity card (In case
of crew member of the foreign shipping company)
- Photograph of proposed account holder signed
at its back.
- Non-resident account opening form of our
Bank filled, signed by the proposed account holder and introduced
by any of our account holders or verified by an official
of Indian Embassy office in the country of proposed account
holder.
- For the purpose of funding your Non-Resident
accounts with us you may instruct your Bank in your country
to remit the funds in US$ to Wachovia Bank Ltd., New York for the credit
of The Saraswat Co-op Bank Ltd. Mumbai, account No 91-189316-1121
beneficiary the Punjab & Maharashtra Co-op. Bank Ltd.(
Name of the Branch) for the credit of your account (please
write your account No. and Name).
Change in status from NRI a/c to Resident a/c.
After your return to India with intention
of residing in India for an uncertain period you are hereby
requested to kindly intimate us at the earliest
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