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Frequently Asked Questions
Q. How does aaSaan work? What is different about aaSaan? What is special about it?
aaSaan is a "no minimum balance account" which has fully loaded features.
For example, without committing to a minimum balance, you get:
- FREE cash withdrawals from domestic Non-SCB VISA ATMs
- FREE anywhere banking (customer-in-person in non-domicile branches)
What’s more, you can also avail of an International Debit card (at a fee) and FREE local cheque book with this account.
Q. Is aaSaan a No-frills account? Do I get charged for Branch access?
aaSaan is a fully-loaded savings account with NO requirement of a minimum balance. There is NO restriction in terms of you accessing your account from SCB branches (customer-in-person at non-domicile branches) and SCB-ATMs.
What's more, you even get FREE cash withdrawals (at least 2 and going up to 4 free) from domestic Non-SCB VISA ATMs each month.
Q. What are the eligibility criteria for opening an aasaan Savings Account?
The aaSaan savings account is only offered in the following cities:
| State |
Cities |
Gujarat
Uttar Pradesh
Bihar
Orissa
Punjab
Maharashtra
Rajashtan
Madhya Pradesh
West Bengal
Assam
Tamilnadu
Kerala |
Rajkot, Surat & Vadodara
Allahabad, Kanpur, Lucknow
Patna
Bhubaneswar
Amritsar, Chandigarh, Jallandhar, Ludhiana
Nagpur, Jalgaon
Jaipur
Indore, Bhopal
Siliguri
Guwahati
Coimbatore
Cochin, Ernakulam |
| And exceptionally in the following two branches in Metros: |
Kolkata
New Delhi |
Jodhpur Park
Vasant Vihar |
An initial funding of INR 10,000 is required to open this account. This is mandatory. Any Indian citizen, resident in these cities (address proof in the city) can open this account – subject to meeting documentation requirements and other KYC requirements.
Q. What is the minimum balance required to be maintained for an aaSaan Savings Account? How much will I be charged for opening this account?
There is No minimum balance to be maintained in this account.
This account comes to you without any minimum balance requirement, with only a nominal (refundable) fee of Rs. 100 per QUARTER.
This will be levied at the beginning of the quarter, but will be credited back to your account if you maintain an average quarterly balance of Rs.10, 000 in the quarter. Additionally, if you maintain an average balance of Rs. 10,000 in a quarter, you will be entitled to four (and not just two!) FREE cash withdrawal transactions at Non SCB ATMs in the country.
Q. Is there a limit on the number of times I can withdraw money from SCB and non-SCB ATMs?
You can access your account any number of times from SCB ATMs for aaSaan. As for Domestic Non-SCB VISA ATMs, you get 2 FREE Cash Withdrawals per month. If you maintain an average quarterly balance of more than Rs. 10,000, we will give you additionally TWO FREE Cash withdrawals per month in that quarter. (i.e. 4 free transactions in the month).
Q. What is the rate of interest that I will earn on the balance in my aaSaan Savings Account?
The interest that you will earn on savings account is 3.5% p.a. The same is calculated in the manner prescribed by RBI.
Q. Is aaSaan a salary account product?
No, both salaried as well as non-salaried customers in these select cities can have an aaSaan account.
Q. If it is available in select cities only, can I continue accessing it if I shift to one of the cities not mentioned in the list?
This account is available only in the select cities and is being offered to you as a resident of this city. You can open another aaSaan account if you move to another city where we offer the same. In case, aaSaan is not offered in the city where you shift, you may choose from any of the other powerful savings account products that we offer.
Q. Will I get a cheque book along with the welcome kit?
You will get a FREE local cheque book with aaSaan. The payable-at-par cheque book will be available to you at Rs. 225 for a 25-leaf cheque book.
Q. What would be the frequency of statements for this account?
FREE Quarterly statements will be mailed across to your address captured on the system. You can also avail of the FREE passbook and FREE monthly statement facility at your branch.
Q. What are the other channels that I can use to access this account from?
With the aaSaan account, you will get FREE access to
- Online Banking
- Phone Banking
- SCB ATMs
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