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.50,000/- (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)
:
(a)
Free Debit-cum-ATM Card for all the joint account holders;
(b)
25% concession in respect of remittance of funds at any of
our branches having connectivity under CBS;
(c)
A rebate/discount of 20% be allowed if locker rent is paid
in advance for a period of 5 years in lump-sum, i.e., for
sixth year the customer will not have to make the payment
of locker rent for all the lockers held in the name of proprietor/partners/directors
of the customer in case of firm/company;
(d)
25% concession in respect of upfront fee/processing fee for
availment of loan by proprietor, partners and directors availing
(any one) housing loan, car loan or personal loan. For availing
2 loans simultaneously, concession available will be at the
rate of 50%;
(e)
150 Cheque leaves ‘free of cost’ per quarter;
(f)
Free e-mails/Print outs for statement of account on monthly
basis;
(g)
25% concession in Cash Receipt at other CBS branches;
(h)
25% concession in making available Same day Credit for outstation
cheques drawn on CBS branches of our Bank;
(i)
Free collection of one outstation cheque (issued in favour
of customer) per quarter upto Rs. 10,000/-(however, out of
pocket expenses shall be recovered);
(j)
Immediate credit of outstation cheques upto 15,000/-;
(k)
25% concession on Annual Custody Charges for Demat Services;
(l)
25% concession on service charges for providing EFT Services;
(m)
Free acceptance of Stop payment of instructions;
(n)
Free issuance of Balance/Interest certificates.
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