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Deposits

 

Current account

Who can open an account?

  1. An individual in his/ her capacity
  2. Two or more persons jointly
  3. Sole proprietory firm
  4. Partnership firm
  5. Hindu undivided family
  6. Private limited companies
  7. Public limited companies
  8. Non-governmental organisations
  9. Public corporations
  10. Registered societies/ associations/ clubs Etc
  11. Trusts
  12. Government/ Semi- government bodies/ departments

(Note-No current account shall be opened in the name of minor)

Initial deposit

  • RS.3000/-

Statement of account

  • Bank will issue statement of account to the account holder once
    in a month

Benefits

  1. Any branch banking (ABB),inter connectivity
  2. ATM facility
  3. Remittances- pay order, demand draft on any location in india
  4. Collection of outstation cheques
  5. Telebanking facility
  6. RTGS/ NEFT Facility
  7. Sms banking
  8. Internet banking
  9. E-statement facility

ATM facility

  1. ATM card/ INSTA card is issued.
  2. For the facility of cash withdrawal upto Rs.25000/- in a day from the
    account with our any branch of PMCB at any time of the day.
  3. Rs.10,000/- can be withdrawn in a day from the account with NFS
    Network, BANCS Network (i.e. other bank's ATMS can be used as per list)
    at any time of the day. Rs. 20/- Per transaction will be charged.

Minimum balance charges

  • If minimum balance is not maintained in the account, minimum balance
    charges are charged at the rates as in force

Requirements

  1. Copy of latest photograph
  2. Proof of residence (passport, driving license, ration card, voters card,
    electricity bill, telephone bill, latest bank account statement, Income tax/
    wealth tax assessment order, Maintenance bill of society, registered leave
    and license agreement with proof of permanent address or Noterised
    Leave & License Agreement with a permanent address proof,
    etc)
  3. Photo identity proof (PAN card, voters ID card, passport, Driving license, senior citizen card, ADHAR card etc)
  4. Introduction by person known and acceptable to the bank
  5. PAN with original for verification or declaration of form-60/61
  6. initial deposit in cash
  7. Business activity proof
  8. Business Address proof
  9. Any other document as per the constitution of the firm
    (As per Annexture -1)
  10. Account Opening Form (AOF) duly filled. click here

General

  1. Bank reserves the right to close any account, if cheque drawn
    are returned unpaid frequently for want of funds or the account is considered
    as irregular/ non-satisfactory
  2. Account not in operation for more than two years will be treated as inoperative/ dormant account
  3. Bank reserves the right to alter, amend, rescind the rules from time to time

Annexure-1

Additional documentation required to open current account as per the constitution of firm

Proprietorship firm

  • Requirements

    A) KYC Identification Document of proprietor:

    1. One latest passport size photograph
    2. Pan card or Form 60
    3. Aadhaar/Passport/Driving license/Voter's Identity Card/NREGA Job Card / letter issued by National Population Register containing details of name and address.
    4. Pension card/government ID card/Ration card /school leaving certificate/ Life insurance policy can be considered for senior citizens.
    5. FATCA declaration form applicable for individual.

    B) Any two documents with name and address of the firm and name of proprietor:

    1. Registration certificate
    2. Certificate/License issued by the Municipal Authorities under Shop & Establishment Act
    3. Sales and income tax returns
    4. . CST/VAT(in applicable cases) / GST certificate (Provisional/Final)
    5. . Certificate/Registration document issued by Professional Tax /Sales Tax / Service Tax authorities
    6. IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT / license /certificate of practice issued in the name of proprietary concern by any professional body incorporated under a statue
    7. Complete income tax return (not just the acknowledgement) in name of the sole proprietor where the income of the firm is reflected, duly authenticated/acknowledged by the income tax authorities
    8. . License issued by the Registering authority like Certificate of Practice issued by Institute of Chartered Accountants of India, Institute of Cost Accountants of India, Institute of Company Secretaries of India, Indian Medical Council, Food and Drug Control Authorities, etc.
    9. Udyog Aadhaar Memorandum {UAM is applicable only to service & Manufacturing Sector
    10. Utility bills such as electricity, water and landline telephone bills in the name of concern

    C) Rubber Stamp of the Proprietorship Concern.

B) Partnership firm

  • Requirements
    1. Partnership Deed
    2. Registration Certificate , if registered
    3. PAN card
    4. Two activity proofs of the firm with name and address of the firm (in case of unregistered /unincorporated partnership firm)
    5. Certificate of registration

    6. KYC Identification Documents of the authorized signatories :
      1. One latest passport size photograph
      2. Pan card or Form 60
      3. Aadhaar/Passport/Driving license/Voter's Identity Card/NREGA Job Card / letter issued by National Population Register containing details of name and address.
      4. Pension card/government ID card/Ration card /school leaving certificate/ Life
        insurance policy can be considered for senior citizens
      5. FATCA declaration form applicable for individual.

    7. FATCA declaration form applicable for legal entity.
    8. Rubber Stamp of the firm.

C) Public or Private Limited Companies / One Person Company.

  • Requirements
    1. Certificate of commencement / Certificate of incorporation
    2. Memorandum of Association (MoA) and Articles of Association (AoA).
    3. Permanent Account Number (PAN) of the entity.
    4. Certified Board Resolution to open the account with names of authorized signatories operating the account along with operating instructions signed by the Chairman of the meeting and countersigned by company Secretary or any Director.
    5. FATCA declaration form applicable for legal entity along with controlling person(s) details.
    6. Rubber Stamp of the company
    7. KYC Identification Documents of the authorized signatories :
      1. One latest passport size photograph
      2. Pan card or Form 60
      3. Aadhaar/Passport/Driving license/Voter's Identity Card/NREGA Job Card / letter issued by National Population Register containing details of name and address.
      4. Pension card/government ID card/Ration card /school leaving certificate/ Life insurance policy can be considered for senior citizens.
      5. FATCA declaration form applicable for individual.

D) Trusts

  • Requirements
    1. The Trust Deed in case of public / private Trust
    2. Registration Certificate issued by charity commissioner in case Trust engaged in charitable work.
    3. Pan Card of the Trust.
    4. Copy of the resolution by the trustees authorizing the members concerned to open and operate the account
    5. List of Trustees.
    6. FATCA declaration form applicable for legal entity
    7. Rubber stamp of the Trust.
    8. Change report issued by Registrar incase of change of Trusts / change of address of the Trust.
    9. KYC Identification Documents of the authorized signatories :
      1. One latest passport size photograph
      2. Pan card or Form 60
      3. Aadhaar/Passport/Driving license/Voter's Identity Card/NREGA Job Card / letter issued by National Population Register containing details of name and address.
      4. Pension card/government ID card/Ration card /school leaving certificate/ Life insurance policy can be considered for senior citizens
      5. FATCA declaration form applicable for individual.

(E) Limited liability partnership (LLP)

  • Requirements
    1. Certificate of Incorporation issued by (ROC) Registrar of Companies.
    2. Certified true copy of LLP agreement.
    3. Pan Card of the Trust.
    4. Updated list of designated partners.
    5. Certified Resolution to open the account with the names of designated partners/partner(s) to operate the account, along with operating instructions, signed by the at least two designated partners.
    6. FATCA declaration form applicable for legal entity.
    7. Rubber Stamp of LLP..
    8. KYC Identification Documents of the authorized signatories :
      1. One latest passport size photograph
      2. Pan card or Form 60
      3. Aadhaar/Passport/Driving license/Voter's Identity Card/NREGA Job Card / letter issued by National Population Register containing details of name and address.
      4. Pension card/government ID card/Ration card /school leaving certificate/ Life insurance policy can be considered for senior citizens.
      5. FATCA declaration form applicable for individual

(F) Housing Societies /Consumer Societies/Welfare Societies

  • Requirements
    1. Certificate of Registration issued by Registrar of Societies
    2. PAN of the society
    3. Pan Card of the Trust.
    4. Certified resolution authorizing the members concerned to open and operate the account.
    5. Bye-laws of the society.
    6. Present list of committee members.
    7. FATCA declaration form applicable for legal entity.
    8. Rubber Stamp of Societies
    9. KYC Identification Documents of the authorized signatories :
      1. One latest passport size photograph
      2. Pan card or Form 60
      3. Aadhaar/Passport/Driving license/Voter's Identity Card/NREGA Job Card / letter issued by National Population Register containing details of name and address.
      4. Pension card/government ID card/Ration card /school leaving certificate/ Life insurance policy can be considered for senior citizens.
      5. FATCA declaration form applicable for individual

(G) Clubs / Mandals / Associations

  • Requirements
    1. PAN card of the entity
    2. Bye-laws /MOA and Rules ®ulation copy of the association or club
    3. Certificate of Registration
    4. Copy of the resolution by the Board authorizing the members concerned to open and operate the account.
    5. Present list of committee members.
    6. KYC Identification Documents of the authorized signatories :
      1. One latest passport size photograph
      2. Pan card or Form 60
      3. Aadhaar/Passport/Driving license/Voter's Identity Card/NREGA Job Card / letter issued by National Population Register containing details of name and address.
      4. Pension card/government ID card/Ration card /school leaving certificate/ Life insurance policy can be considered for senior citizens.
      5. FATCA declaration form applicable for individual
      6. FATCA declaration form applicable for legal entity
      7. Rubber Stamp of Clubs/Mandals/Associations

(H) Hindu undivided family (HUF) :

  • Requirements
    1. PAN card of the entity
    2. KYC Identification documents of the Karta :
      1. One latest passport size photograph
      2. Pan card or Form 60
      3. Aadhaar/Passport/Driving license/Voter's Identity Card/NREGA Job Card / letter issued by National Population Register containing details of name and address.
      4. Pension card/government ID card/Ration card /school leaving certificate/ Life insurance policy can be considered for senior citizens.
      5. FATCA declaration form applicable for individual
    3. Photograph of all co-parceners.
    4. Copy of the resolution by the Board authorizing the members concerned to open and operate the account.
    5. HUF declaration signed Karta and all the co-parceners.
    6. FATCA declaration form applicable for legal entity.
    7. Rubber Stamp of HUF.

(I) For unregistered / unincorporated Trusts / Societies / Associations

  • Requirements
    1. Copy of the Resolution of the Managing Body of the Association or Body of Individuals.
    2. Authority to persons to operate the Bank account by way of a Resolution.
    3. Byelaw / Rule Book duly signed by the Managing Body.
    4. KYC Identification documents in respect of the persons holding the authority to operate the account :
      1. One latest passport size photograph
      2. Pan card or Form 60
      3. Aadhaar/Passport/Driving license/Voter's Identity Card/NREGA Job Card / letter issued by National Population Register containing details of name and address.
      4. Pension card/government ID card/Ration card /school leaving certificate/ Life insurance policy can be considered for senior citizens.
      5. FATCA declaration form applicable for individual
    5. Copy of Acknowledgement for having applied for Registration, if available.
    6. PAN Card of the entity / Form 60.
    7. FATCA declaration form applicable for legal entity.
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