Joint Account in Corporation Bank

Hi I would like to know the details of the Corp Saral Plus Account as well as the rights and responsibilities of the Joint account holder with Corporation Bank as I plan to open a joint account with the bank?

[Pathak]

Corp Saral Plus Account with Corporation Bank details are mentioned below:

Who can open :
Individuals in single/joint names (excluding Minors)

Salient Features
Personal Accident Insurance Cover of Rs. 5 Lakhs. for a fee of Rs. 100/- p.a.
Free Monthly email statement (on request).
Free 20 Cheque leaves per year , Rs. 4/- per additional leaf
Free DD through Net Banking.
Free NEFT
No minimum balance requirement

Terms & Conditions for Insurance Cover
Only First Account Holder will be covered in case of Joint Accounts
Age Group covered 18 Yrs. to 70 Yrs.
Services charges of Rs. 100/- p.a. will be debited upfront on the opening day and on anniversary date every year.
Account to be opened by minimum Cash deposit of Rs. 100/-

Add-Ons :
e – Passbook
Instant Internet Banking Kit
Instant Debit card (domestic and 1 st year charges free)
Mobile / tablet Banking
Online opening and closing of FD and RD
Fund Transfer through ATM & Mobile
Any Branch Banking
E-Payment of Tax

Rights and Responsibilities of Joint Account Holders

1. A record opened in the names of two or more people is called as Joint record.

2. The Account Opening Form ought to be got marked by all the shared service holders.

3. Shared services are represented Under Section 45 of Indian Contract Act.

4. Without guidelines despite what might be expected, operations in the shared service ought to be mutually approved by all shared service holders.

5. To defeat this down to earth trouble, particular guidelines as to the operation of the record if there should arise an occurrence of Savings Bank and Current records

6. The operations in the record and reimbursement at the season of shutting the record/development of store in the event of Term store ought to be entirely be as per the order given at the season of opening of the record.

7. In the event that a check drawn by one of the shared service holders is modified, the modification must be affirmed by the same signatory and not the others.

8. Power to open and work the shared service does not give right to acquire, overdraw or markdown bills of trade by the shared service holder/s

9. In the occasion of any question advised to the Bank by any of the shared service holders, the command will stand repudiated naturally

10. Any of the shared service holders can renounce the command regardless of the method of operation. A check drawn by an approved signatory/Mandate holder can be contradicted by another shared service holder who is or is not approved to work the record. Such check can be paid just with the assent of all shared service holders.

11. Checks and other debatable instruments favoring/payable to one/a greater amount of the shared service holders can be credited to the shared

12. Shared service holders can benefit the designation office according to the surviving rules. At present, the record holders might assign one individual as candidate.

13. On receipt of notification of death, bankruptcy or craziness of any of the shared service holder, the operations in the record might be halted.

14. In the occasion of death of one of the shared service holder and without Nomination or reimbursement condition, the equalization sum in the shared service will be paid to the surviving record holders alongside the lawful beneficiaries of the expired record holder.

Contact Details:

Corporation Bank
Corporate Office
Mangaladevi Temple Road
Pandeshwar
MANGALORE - 575 001
Karnataka, India

Tele: 91-824-2426416 to 420
Fax: 91-824-2440964