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  • State Bank of Travancore Savings Account

    State Bank of Travancore Savings Account

    State Bank of Travancore Savings Account

    The State Bank of Travancore, known as the Travancore Bank was established in the year 1945 in the erstwhile Princely State of Travancore, to cater to the banking needs of the citizens. The bank was later made a member of the State Bank banking group and now functions as an arm of the group. The bank’s head office is located in Thiruvananthapuram, in the state of Kerala.

    The bank has seen a tremendous increase in its scope of operations, currently serving its customers through over 1157 branches across the country. In addition to banking services, the bank also gives back to the community through initiatives such as medical camps, and social circles and providing services to orphanages and old age homes.

    The bank provides services to all sections of society, from rural India to the small and cottage industries, providing them with micro credit and funding through credit societies and services such as credit cards/schemes exclusively designed for the agrarian community.

    The bank has also introduced savings accounts for its customers. these accounts provide account holders with attractive rates of interest as well as deals and benefits, adding to the benefits people stand to receive.

    State Bank of Travancore Savings Account Rate of Interest

    The State Bank of Travancore offers its Savings Account holders an attractive rate of interest of 4% per annum.

    State Bank of Travancore Savings Account Minimum Balance Requirements

    The State Bank of Travancore has fixed a minimum balance requirement for its various Savings Accounts. These are fixed based on multiple factors such as the type of account, the geographical location (whether urban/rural) etc. the bank’s minimum balance requirements are mentioned below:

    Type of Savings Account Minimum Balance Requirement
    Savings Plus Savings Account Rs. 5, 000
    Pratibha Savings Deposit Scheme Rs. 250
    Basic Savings Bank Deposit N.A.
    Basic Savings Bank  Deposit Small Savings N.A.

    Opening a State Bank of Travancore Bank Savings Account

    Opening an account with the State Bank of Travancore is now a simpler process, as you can apply online. The bank has introduced an online account opening feature that allows prospective account holders and existing clients to submit an online application form, saving them a trip to the bank to collect a form and then fill in the details.

    Those wishing to apply online will have to visit the bank’s official website, from where they will be directed to the account opening application form page. They would have to fill in the details requested and submit the form online, after which they will receive a Temporary Account Reference Number (TARN) on their registered mobile number. They would then have to print out the form and attach the Know Your Customer (KYC) documents as specified in the form and submit the same to a bank branch. On verification of the same, the individual/entity would receive the starter kit and the Savings Account would become operational.  

    Those wishing to apply offline can visit their nearest branch and request for a copy of the form. They will have to submit the duly filled in and signed form to the branch along with the KYC documents. After these have been verified, they will be presented with the starter kit and the account will be operational.

    Types of State Bank of Travancore Savings Accounts

    Savings Plus Account: With the Savings Plus account, enjoy the benefits of a savings account coupled with the advantages and high interest rates of a term deposit. Balance exceeding Rs. 5, 000 would be invested in a Term Deposit, with the minimum amount being Rs. 10, 000 for a 12 month period or longer. Interest for the Term Deposit will be paid out at existing term deposit rates, while the balance would be at the Savings Account interest rate. Account holders will also enjoy features and benefits of a savings account such as an ATM card.

    Pratibha Savings Deposit Scheme: This Savings Account is designed for women above the age of 18 years. The account can be held singly or jointly, with the primary holder being a woman. Holders will receive a cheque book free of charge as well as an ATM card. They will also be able to conduct transactions through the internet banking service. A KYC-compliant account, holders will be restricted to 4 transactions a month (not including ATM transactions).

    Basic Savings Bank Deposit Small Account: This Savings Account is designed for individuals who cannot fully comply with the KYC norms as stipulated by RBI. This is a zero balance account, and holders will be able to make unlimited deposits into the account, and a maximum of 4 withdrawals each month. Holders will receive an ATM card at no charge and the account balance cannot be above Rs. 1 lakh at any point of time. This account would be closed 12/24 months from the account opening date.

    Basic Savings Bank Account: This a no-frills Savings Account that is fully compliant with KYC norms, and is for those individuals who wish to avail to the services and facilities of a Savings Account without having to maintain a large balance. Account holders will receive a pass book as well as an ATM card, and will be permitted an unlimited number of deposits. There is no minimum balance requirement and holders will be able to receive foreign remittances as well as make use of the internet banking facilities.


    The eligibility criteria to open a Savings Account with the State Bank of Travancore is mentioned below:

    • Hindu  Undivided Families
    • Individuals above the age of 18 (account can be held either singly or jointly)
    • Children above the age of 10 (as specified for particular accounts). For such accounts, a parent or guardian will operate the account till the minor account holder attains maturity.

    Documents Required to Open a State Bank of Travancore Savings Account

    The following documents have to be furnished when opening a Savings Account. These documents form the Know Your Customer (KYC) norms as specified by RBI.

    • Passport sized photographs
    • Proof of address
    • Proof of identity

    Proof of address documents:

    The following documents can be submitted to fulfil the proof of address requirement for account opening-

    • Credit  Card Statement
    • Passport
    • Aadhaar card
    • Salary slip
    • Utility bill such as telephone bill, electricity bill
    • Bank account statement
    • Income tax statement

    Proof of identity documents

    The following documents with a valid photo ID can be submitted to fulfil the proof of identity requirement for account opening:

    • Permanent  Account  Number (PAN) card
    • Voter’s ID card
    • Passport
    • Driver’s license
    • Government issued ID or Defence ID card
    • NREGA card
    • ID card issued by a reputed employer


    In the case of joint accounts, all the applicants will be required to furnish the above mentioned documents.

    In the case of accounts in the name of a minor, the parent/guardian is required to furnish proof of the minor account holder’s date of birth. 


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