A Savings account is a safe, convenient and affordable way to save your money. Bank deposits are fairly safe because banks are subject to control of the Reserve Bank of India with regard to several policy and operational parameters. Bank also pays you a minimal interest for keeping your money with them.Saving Account is meant to encourage the savings among the people.
A Savings account can be opened either individually or jointly with another individual. In a joint account only the sign of one account holder is needed to write a cheque. But at the time of closing an account, the sign of the both the account holders are needed.Most banks also require an introduction for opening an SB account. The introduction may be obtained either from an existing account holder or from a respectable citizen, well known to the bank, who should normally call on the bank and sign in the column specially provided for the purpose of introduction in the account opening form.