OBC Basic Savings Account

OBC Basic Savings Bank Deposit Account is a simple zero balance savings bank account that allows the financially disadvantaged to avail basic banking facilities such as free ATM card, cheque book and monthly statements, among others. The account can be opened in a hassle free manner and requires minimal formalities.

Updated On - 25 Sep 2025

Overview Oriental Bank Basic Savings Bank Deposit Account

This account is available for all Indian citizens who cannot usually afford the financials of operating a bank account. The account is also made available for various beneficiaries of the different social security schemes of the government and other BPL beneficiaries. The accounts are assumed to be opened for customers with no previous banking exposure.

The documentation requirements are simple and include 2 photographs, address proof, and identity proof. OBC Savings Account holders cannot hold any other savings bank account in OBC.

Bank	Oriental Bank of Commerce
Category	OBC Basic Savings Deposit Account
Initial Deposit Requirements	Rs.10 minimum
Minimum Average Balance Requirements (MAB)	Zero
Debit Card Offered	Yes, free.
Interest Rate	4% per annum

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Services Offered with Basic Savings Bank Deposit Account

The following services are provided with OBC Basic Savings Bank Deposit Account:

Passbook	Passbook is offered free of cost.
Cheque Book	1 free cheque book per year. 25 leaves in every book.
Cash Withdrawal	Up to 6 free transactions allowed from ATMs and transfers in a month. Post this, customer will be charged Rs.5 per transaction.
Internet Banking	Net Banking facilities are not available for these account holders.

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Features of OBC Basic Savings Bank Deposit Account

These are some of the features and benefits of OBC Basic Savings Bank Deposit Account:

Minimum Account Balance (MAB)	There are no penalties or fines for account holders unable to maintain a minimum balance.
Minimum initial deposit	Rs.10
Maximum deposit amount	No limit
SMS Alerts	Free SMS alerts.
Value Added Services	No limit on number of credits on the account. Nomination facility available. No additional charges on reactivating or non-operating account. No charges for standing instructions if funds are transferred within the same branch.
Easy Fund Transfer Facility	ECS, NEFT and DD can be used for transferring, among others.

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Fees and Charges for OBC Basic Savings Account

Service / Product	Fees & Charges
Incidental charges	Rs.5 per debit when exceeding 6 debits per month
Demand Draft Charges	Up to Rs.5,000 - Rs.15 for individuals. From Rs.5,000 to Rs.10,000 - Rs.35 for individuals. Above Rs.10,000 - Rs.3 per thousand for individuals (minimum Rs.40 and max Rs.12,000).
Any branch cheque deposits	Free
Annual Fee for Debit cum ATM Card	Free
NEFT through Branch Channel	Free till Rs.1 lakh, Rs.10 per transaction between Rs.1 lakh to Rs.2 lakhs and Rs.25 per transaction over Rs.2 lakhs.
Duplicate Passbook	Rs.50 for latest balance, Rs.50 plus Rs.2 per entry for previous entries.
Passbook	Free
Account Closure Charges	Within 14 days - Nil Over 14 days to up to 1 year - Rs.50 Beyond 1 year - Nil

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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