Mar 11

Corporation Bank Savings Account

Team Antworks

Corporation Bank Savings Account will help customers to not only track and manage their finances but also to earn considerable interest on the savings. With a range of customized plans, customers can choose a savings account scheme that is best suited for their needs.

Corporation Bank Savings Account Interest Rate

Corporation Bank offers an interest of 4% per annum on the daily minimum balance for all savings account scheme.

How to Open a Corporation Bank Savings Account?

Customers can easily open a savings account with Corporation account by visiting any of the nearest Corporation bank branch. Customers will have to submit a duly filled application form with all the necessary KYC documents to complete the application process.

Types of Corporation Bank Savings Account

Corporation Bank offers a wide variety of Savings Accounts to meet the different needs of customers. Here’s a list of the schemes offered by Corporation bank along with the benefits.

Regular Savings AccountKick start your saving journey with this basic savings account offered by Corporation Bank. With features like NEFT & RTGS fund transfer facilities, international debit card, any branch banking and personalized cheque book and card to card transfer, this savings account will fulfil all your banking needs too!
Corp Classic Savings AccountThis account brings with it the advantages of term deposits and savings accounts. The tenure of term deposits can range anywhere between 15 days to 5 years.
Corp New Gen Savings AccountExclusively created for students with features like minimum quarterly average balance requirements, this account also offers a lot of add-on facilities. Other features of this account include debit cards, SMS banking and internet banking facilities.
Corp Pragati AccountThis basic savings account can be opened with an initial deposit of Rs.10 and will offer all the basic banking facilities to the account holder. Any resident individual over the age of 10 years is eligible to open this account.
Corp Saral Savings AccountSaral Savings account comes with many features like free personal accident cover worth Rs.1 lakh and free internet banking services. Account holder also get other benefits like personalized cheque book, free DD issuance and online FD/RD opening.
Corp Signature AccountA premier savings account facility offered by Corporation bank, customers get free personal accident cover worth Rs.10 lakhs and 50% concession on locker rental for the first year. Other benefits include high withdrawal limit from ATM and free signature debit card with exclusive features.
Corp Super Saving AccountA savings account with enhanced benefits, account holders stand to get premium features like 2 free RTGS transactions a month, 25% concession on locker rental, 50% concession on the charges of DD issuance and issue of certificates.
Corp Mahila Power AccountSpecially designed to meet the savings requirements of women, this savings account can be singly or jointly opened by women in the age group of 21 to 60 years. Customers can avail benefits like MPower Take Off loan with quantum up to 10 times the QAB of the last 2 quarters depending on the customer’s income.
Corp Arambh Savings AccountIt is a zero balance savings account and this scheme offered by Corporation bank will duly fulfil all the banking needs of the customer.
Corp Saral Plus Savings AccountThis savings account scheme is opened by all resident individuals and account holders will get an array of benefits like mobile banking, free DD via net banking and complimentary personal accident insurance cover worth Rs.5 lakhs.

Corporation Bank Savings Account Minimum Balance Requirements

Regular Savings Account	Quarterly Average Balance of Rs.500 for accounts held in all branches except in rural areas. In rural areas, a QAB of Rs.250 is to be maintained.
Corp Classic Savings Account	Rs.15,000
Corp New Gen	Quarterly Average Balance of Rs.100 is to be maintained.
Corp Pragati Account	No minimum balance requirements
Corp Saral Savings Account	An average quarterly balance of Rs.1,000 is to be maintained.
Corp Signature Account	QAB of Rs.1,00,000 is to be maintained.
Corp Super Saving Account	Quarterly Average Balance of Rs,15,000 is to be maintained.
Corp Mahila Power Account	Quarterly Average Balance of Rs.2,5000 is to be maintained.
Corp Arambh Savings Account	No minimum balance requirements.
Corp Saral Plus Savings Account	Nil

Corporation Bank Savings Account Fees and Charges

	Non-Maintenance Charges	Add-Ons	Cheque Return Charges/other Charges
Regular Savings Account	Rs.100 per quarter	Any branch banking Mobile Recharge via ATMs and SMS E-Payment facility for tac card to card transfer	If 3 or more cheques are returned due to insufficient funds, Rs.200 per cheque. Rs.100 for inward clearing and 50% of collection charges subject to a minimum of Rs.60 for return of outward clearing
Corp Classic Savings Account	No Charges	Personalized cheque book Internet banking facility Insurance and Mutual fund facilities Advance tax payment facilities	Rs.100 for inward clearing Rs.200 per cheque, If 3 or more cheques are returned due to insufficient funds. 50% of collection charges subject to a minimum of Rs.60 for return of outward clearing
Corp New Gen	NA	SMS Banking Debit cards Cheque collection	–
Corp Pragati Account	NA	Remittance Facilities Outstation cheque collection Passbook Facilities for nomination	NA
Corp Saral Savings Account	NA	Complimentary personal Accident cover NEFT and internet banking facilities Online facilities for FD and RD	–
Corp Signature Account	Rs.500 per quarter plus service taxes as applicable	Unlimited cash withdrawal from ATMs 5 Free RTGS transactions a month High POS and ATM transaction limit	Charges for personalized cheque book – 100 cheque leaves free per financial year and Rs.4 for every additional leaf.
Corp Super Saving Account	Rs.150 per quarter and service	Free insurance cover for personal accident High POS and ATM withdrawal limit 2 free RTGS transactions a month Free platinum debit card	Charges for personalized cheque book – 60 free cheque leaves in a financial year and Rs.4 for additional leaf
Corp Mahila Power Account	Rs.100 per quarter	SMS Banking Internet banking services Debit/ATM card personalized cheque book	–
Corp Arambh Savings Account	No charges	NEFT/ABB facility Passbook and nomination facilities Outstation cheque collection Facility for Inland remittance	–
Corp Saral Plus Savings Account	NA	Personal accident cover Free NEFT facility Free DD through Net Banking e-passbook	20 free cheque leaves per year and Rs.4 will be charged for every additional leaf.

Corporation Bank Savings Account Eligibility

The eligibility for Corporation Bank Savings Account is as follows.

An individual with a sound mind can open a savings account in his/her name.
Minors represented by guardian or parent.
Individuals can open an account in joint names with proper repayment instructions.
Minor students over 10 years can open an account. However, they will not be issued an ATM card and will not be authorized to carry out third party payments and overdraw. Self-cash withdrawals are allowed.
Societies, clubs, trusts, associations, executors, administrators, HUFs and educational institutions can open a savings account.
For accounts specific to women, the account can be opened either jointly or singly. The applicant must have an independent source of income in semi-urban/urban/metro centers and must be in the age group 21 to 60 years.

However, the eligibility criteria may vary depending on the type of savings account. Do enquire with Corporation Bank before applying for a savings account.

Corporation Bank Savings Account Documentation

All applicants must provide the following documents during application.

Passport size photographs with duly filled application form
KYC documents like ID proof and address proof
Keep documents like PAN Card, voter ID, passport, Aadhar card, driving license and proof of age handy.
Salaried applicants will be asked to provide salary slips and employer ID.