Credit freeze status
A Basic Savings - Small Deposit Account is tagged as ‘credit freeze’, if the customer fails to provide valid KYC documents, or the evidence of having applied for valid KYC documents to the Bank, within 12 months of opening the account.
- A Basic Savings - Small Deposit Account will be in a freeze state if:
- Value of all credits in the account during the financial year exceeds Rs 1,00,000, or
- Day end account balance exceeds Rs 50,000, or
- Total withdrawals in a month exceed Rs 10,000, or
- The customer is unable to submit valid KYC documents to the Bank, within 24 months of opening the account.
**New account opening under Basic Savings Bank Account with introduction, has been discontinued.