The
product is aimed at offering Current Account Customers
convenient opportunity to earn extra-returns on surplus
funds lying in the accounts which may not normally be
utilised in the near future or are likely to remain un-utilized.
The automated nature of the facility for 'Sweep In or
Sweep Out' of more than a lac of rupees, and creating
fixed deposits for desired period, would save lot of operational
hassles and create Customer Value. Roaming Features: The
Customers would be able to operate their 'Current Comfort'
at all other CBS branches of our Bank. It will facilitate
transfer of funds as well as much faster cheque collection
services for the customers, simultaneously customers will
be able to withdraw cash from our CBS branches.
| Sweep
in and Sweep out Features: |
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The
Customer shall be able to profitably deploy his funds
which were earlier not attracting any interest. Funds
(above Rs. One Lac) lying in Current Accounts and their
ready availability when required for payment/clearance
of cheques. The bank would provide the facility of automatic
transfer of balance from Current Accounts having a balance
of over Rs.1,00,000/- (Rupees one lac only) in
multiples of Rs.10,000/- (Rupees Ten Thousand Only)
to Fixed Deposit Accounts. Sweep In Funds would be accepted
for a minimum maturity period of 15 days and Maximum
maturity period of 45 days. It will be optional for
the customers to indicate desired periodicity in multiples
of 15 days. The customer would get the interest on
such deposit at the term deposit rate applicable for the
period indicated by him/her.
| Additional
Features |
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(subject
to maintenance of stipulated 'minimum balance' in the account
throughout during previous quarter i.e. clear balance on
the closing of everyday should have been Rs.25,000/- or
above) :
- Free ATM Card;
- Free Debit Card (slated to be introduced by the Bank
shortly-publicity on this aspect will begin only after
launch)
- Free remittance of funds upto an extant of Rs.
25000/- per month at any of our branches having
connectivity under CBS.
- One Cheque book of 50 leaves free of cost per quarter
to be issued (inclusive of item no. xii)
- Free e-mails for statement of account on monthly
basis
- Same day Credit for outstation cheques drawn on other
branches of our Bank under CBS Connectivity
- Free collection of one outstation cheque (issued
in favour of customer) per quarter upto Rs. 10000/-(however,
out of pocket expenses shall be recovered)
- Immediate credit of outstation cheques upto 15,000/-
- 25% concession on Annual Custody Charges for Demat
Services
- 25% concession on service charges for providing EFT
Services;
- Transaction i.e. T + 3 Days' Credit for outstation
cheques drawn on other bank branches at locations where
we have at least one PNB branch under CBS connectivity.
- If possible, Free Special Cheque Book (under relevant
MICR Code) shall also be issued to customers enabling
them to make payment by cheque to outstation parties
at CBS centers.
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