| Basic
Eligibility |
|
 |
Accounts can be opened As per RBI directives
for opening Saving Fund Accounts of individuals/institutions.
Staff members are also eligible to open their accounts
under this Scheme.
| Features
|
|
|
Initial Deposit Amount Required:
Rs. 500/-.
Minimum Quarterly Average Balance
Required: Rs. 5000/-(For Govt. Accounts, it would
be NIL).
Incidental Charges : Rs. 150/-
per quarter for not maintaining stipulated Quarterly
Average Balance. It will be for operative as well as in-operative
accounts under this category.
SWEEP IN AND OUT: SWEEP IN AND
OUT shall take place in Savings Accounts after
the cut off level of Rs.25,000/-, i.e., having a balance
of over Rs.25,000/- with a minimum Sweep-out/ Sweep-In
of Rs.5,000/- and thereafter in multiples of Rs.5,000/-
to/from Fixed Deposit for either 90 or 179 days, as opted
by the customer. The customer will get the prevailing
fixed deposit card interest rates (for below Rs. 15 Lacs
amount of single Term Deposit) on the amount swept in
and out in the accounts provided it had remained under
FD portion for a minimum period of 14 days.
| Benefits
|
|
|
| 1. Free ATM Card facility |
| 2. Free Remittance Facility
-Upto two remittances with the maximum amount of Rs.20000/-
(for both remittances) in a month. |
| 3.
Free Collection of Outstation Cheques |
Upto the maximum amount of Rs.20,000/- in a month.
(However, out of pocket expenses will be recovered) |
| 4.
No Processing Fee |
Upto any one loan of Rs.5 lacs under Schematic Lending. |
| 5. For Salaried Women customers,
concession of 0.25% in rate of interest would be extended
in addition to the maximum margin of 10% for loan
under any Retail Loan Scheme. |
| 6. Free Retail Internet Banking
Services |
| OPERATIONAL
MODALITY |
|
|
- In case of need for honouring the cheques/debit mandates:Ø
The balance available upto Rs.25,000/- in the account
would be utilized;
- For further needs, withdrawal will be allowed from
Fixed Deposit in the multiples of Rs.5,000/-, on Last
In First Out Basis(LIFO).
|
