Dhanlaxmi Bank Savings Account

Dhanlaxmi Bank started in Thrissur; Kerala in 1927 caters to the needs of traders, agriculturists and economically weaker sections of the society. One of the oldest banks with a history of about 89 years in the country providing quality service in the banking & financial sector, it has over 280 branches across India. Resident individuals above the age of 18 years can open a savings account in the bank either singly or jointly.

Clubs, associations, societies, trusts & minors through parents or guardians can also open a savings account with the bank that offers interest rate of 4% per annum on all its savings accounts. To open an account, all KYC documents towards identity & residence proof, along with passport sized photograph are to be submitted to the bank.

Types of Dhanlaxmi Bank Savings Accounts:

1. Dhanam Vanitha Savings Account:

Designed for women, this account is provided with features such as free internet banking & phone banking facilities, daily spending limit of Rs. 75000 at POS, etc.

Average Monthly Balance of Rs. 500 is to be maintained in the account. Whenever the balance in the account is over Rs. 25000, the funds are transferred to a fixed deposit account. This increases the revenue of the account holder.

2. Dhanam Preferred Savings Account:

This account can be opened by resident individuals, minors, trusts and societies. Average monthly balance of Rs. 5000 is to be maintained. It offers features that include five free transactions per month through NEFT or RTGS, ATM withdrawals limited to Rs. 50000 per day, easy access to cash at any branch and cash withdrawals or deposits at non base branches limited to Rs. 100000 per day.

3. Dhanam + and ++ Savings Accounts:

This account is designed by the bank to facilitate the account holder to earn good dividends & returns by clubbing the savings account with term deposit account. The account holder gets paid on the eligible funds in the term deposit at the existing term deposit rates. A free cheque book is provided to the account holder operating the account, in which the average monthly balance to be maintained is Rs. 5000.

4. Dhanam Basic Savings Account:

This account is a basic account & can be opened by anyone, except NRIs either singly or jointly. It is a zero balance account, where the account holder is provided with features like debit card facility & free withdrawals from all ATMs of Dhanlaxmi & other banks. Additionally, there is no minimum balance requirement with the account.

5. Dhanam Basic Savings Bank Deposit Account-Small:

This account again is a zero balance basic account, for which the account holder need not maintain any minimum balance. It can be opened by individuals singly or by minors jointly with parent or guardian. There is an upper ceiling of Rs. 50000 on the balance in the account.

6. Dhanam Yuvak Savings Account:

This account is meant for youth between 18 & 35 years of age to help them save money for a secured financial future. The account has features like free debit or credit card; free any branch banking facility, net banking facility, phone banking facility, free e-statements facility and free e-mail alerts facility. The account is to be maintained with an average monthly balance of Rs. 1000.

7. Dhanam Premium Savings Account:

Required to maintain an average monthly balance of Rs. 10000, this premium account can be opened by individuals, trusts, clubs, associations & societies. The account holder is offered free unlimited transactions at any ATM along with 10 free NEFT & RTGS transactions each every month.

8. Dhaman Privilege Savings Account:

This account is designed with features including daily withdrawal limit of Rs. 50000, daily limit of Rs. 100000 at POS, free personalised cheque book per quarter and free transfer of funds through NEFT & RTGS. An account holder has to maintain an average monthly balance of Rs. 25000 every month.

9. Smart Salary Savings Account:

This account is designed especially for the salaried. The account holder need not maintain any average monthly balance in the account. Features like 2 free pay orders & 5 free NEFT & RTGS each are provided every month. The account holder also gets a debit card facility & is entitled for unlimited non cash transactions at any bank.

10. Regular Savings Account:

Required to maintain an average monthly balance of Rs. 1000, this account offers basic banking facilities at any branch across India including free non-cash transactions at any bank.

11. Dhanam Genius:

This account is especially designed to encourage parents save for their child's future like education, marriage, etc. This account can be opened by any resident individual on behalf of a child who is between 10 & 23 years. A minimum balance of Rs. 500 is to be maintained in the account.

The main features of the account include two free monthly NEFT or RTGS transfers, two free DDs & POs per month, daily withdrawal & POS limit of Rs. 5000 each & a personalised ATM card with photograph at a onetime charge of Rs. 200 (no maintenance charges thereafter)

The account holder by maintaining a minimum balance of Rs. 5000 per week can opt for sweep in/out facility. A minimum balance of Rs. 1000 has to be maintained in the account for getting the automatic sweep in/out facility into a fixed deposit with maximum 30 days tenure.