Retail/Individual Accounts
Joint Accounts
- Joints accounts shall be maintained in the name of two or three individuals to jointly operate the account; in case of joint account opening, account holders shall sign additional contract design for the purpose;
- Joint accounts can be “And Account” and “And/or Account”; and
- The nature of “And Account” is that all the parties should be present at the counter of the bank to give payment instruction and withdraw money. Whereas “And/or” account type allows individual account holders to withdraw money and give payment instruction separately.