Scheme

Scheme Code: MACT
Scheme Name: MACT Claims SB A/c

Eligibility

Individuals including Minors (through guardian) in single name.

Minimum/Maximum Balance
Requirement

Not applicable, Account may be opened with Zero Balance.

Cheque book  / Debit Card / ATM Card/ Welcome Kit/Internet Baking / Mobile Banking facility

1. By default, these facilities are not available in this product. 
2. However, in case these facilities have already been issued, the court shall direct the bank to cancel the same before the disbursement of the award amount.
3. The bank shall make an endorsement on the passbook of the claimant(s) to the effect that no cheque book and/or debit card have been issued and shall not be issued without the permission of the Court.

Operations in
the account

1. Only single operation.
2. In case of Minor accounts, the operation will be through guardian.

Withdrawals

Only through Withdrawal Forms or through Bio-Metric authentication.

Product change

Not permitted

Place of Opening

Only at the Branch near to the place of residence of Claimant (as directed by the Court).

Account Transfer

Not allowed

Nomination

Mandatory

Passbook

Available

Rate of Interest

As applicable to Regular SB accounts

Statement by e-mail

Available

P. S.: - Any other terms and conditions of SB account in Bank are applicable.