| 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).
|
