The Mehsana District Central Co-Operative Bank Ltd.
A savings account is an interest-bearing deposit account held at a bank or another financial institution that provides a modest interest rate. The saving account is generally opened in bank by salaried persons or by the persons who have a fixed regular income. This facility is also given to students, senior citizens, pensioners, and so on Saving accounts are opened to encourage the people to save money and collect their savings. In India, saving account can be opened by depositing र100 (approx. US $2) to र5000 (approx. US $100). The saving account holder is allowed to withdraw money from the account as and when required. The interest which is given on saving accounts is sometime attractive, but often nominal. At present, the rate of interest ranges between 4% to 6% per annum in India. The interest rates vary as per the amount of money deposited (lying) in the saving bank account, scheme opted, and its maturity range. It is also subject to current trend of banking policies in a country.