Manipur Rural Bank has been providing basic banking services and developing a regular banking habit to the public so that they can get their basic financial rights. The Bank provides the following deposit Schemes with an objective to fulfil the public’s requirements.
Your money will be saved with us. A saving account is for depositing our day to day surplus. You can withdraw your money whenever you need it.
How to open: You can open an MRB Saving Account by submitting the following documents:
Duly filled upped Account opening form (click here to download)
Two recent passport size photograph
Your KYC documents (click here for KYC details)
What will you get:
Saving account will promote your savings habit.
You can earn income by way of saving bank interest.
No restriction on the number and amount of deposits but PAN details are required to be furnished for cash transactions exceeding र50,000.
You will get Bank passbook, CTS cheque and ATM cum Debit Rupay Debit Card of MR Bank.
You can withdraw your money by cheque or withdrawal slip or ATM cum Debit Rupay Debit Card of MR Bank.
The rate of interest payable is 2.75%.
A minimum amount has to be kept on saving account to keep it functioning.
Saving account passbook acts as an identity and residential proof of the account holder.
You can link your saving account with your Adhaar No. DBTL, insurance policies etc.
You can get all your basic financial rights through your saving accounts.
Current Accounts are mainly for businessmen and are not used for investment or savings purpose. With this account there are no limits for number of transactions or the amount of transactions per day. Maximum currents are opened in the names of firm / company accounts. No interest will be paid by banks for these accounts instead banks charges certain service charges.
How to open: You can open an MRB Current Account with the following documents: Please click download for downloading Current account opening form. Download.
Two passport size photographs
KYC documents (Click here for more details)
Get signed from an introducer’s as per Bank’s norms
Benefits of Current Accounts:
It will enable you to carry out your business transactions properly and conveniently.
You can obtain an overdraft facility as per bank norms.
Term deposit account is for depositing for period suitable to your needs. This may earn interest at higher rate than saving account. You can also withdraw before the due date but in that case you will get less interest.
Manipur Rural Bank has the following Term Deposit schemes. For details of the schemes please visit your nearest Manipur Rural Bank Branch.
Monthly Income Plan
Monthly Income Plan
Revision of rates of interest on domestic Term Deposits w.e.f 19.01.2023 (Rate of interest % per annum)
|Sl. No.||Period of Deposit||The prevailing interest rates|
|Other than Sr. Citizen||Rate for Sr. Citizen|
|1||7 Days to 14 Days||3.00||3.00|
|2||15 Days to 29 Days||3.00||3.00|
|3||30 Days to 45 Days||3.00||3.00|
|4||46 Days to 60 days||3.25||3.25|
|5||61 Days to 90 Days||3.25||3.25|
|6||91 Days to 180 Days||3.50||3.50|
|7||181 days to 269 Days||4.40||4.40|
|8||270 Days to less than 1 Year||4.40||4.40|
|10||Above 1 year to less than 2 years||6.1||6.60|
|11||2 years to less than 3 years||6.20||6.70|
|12||3 years and above||6.30||6.80|
|If Term Deposit is closed prematurely withdrawn within 7days from the date of deposit.||No interest will be paid|
|If closed prematurely beyond 7days and withdrawn the deposit.||1% penalty will be levied on the rate of interest applicable for the period the deposit remained with the Bank.|
|If prematurely withdrawn for reinvesting the deposit for a period longer than the residual period of the original deposit.||Interest will be paid at the rate applicable on the date of original deposit for the period for which the deposit remained with the Bank without applying any penalty of 1 %.|
|If the term deposit is renewed by premature withdrawal for a period shorter than the remaining period of the deposit.||Penalty will be charged @ 1 %.|
Recurring deposit account is for depositing an amount periodically say every day or every week or every month for a certain period. This may also earn interest at higher rate than saving account. You can also withdraw before the due date but in that case you will get less interest. This type of deposit is especially for those people who earn small and regular incomes.
For details of the schemes please visit your nearest Manipur Rural Bank Branch.
With smaller investment per month you can get interest rates similar to that of regular Fixed Deposits.