| Type of Account |
Current Account |
| Eligibility |
As per prevailing norms |
| Mode of holding A/c |
As per prevailing norms |
| Available at branches |
CBS Branches only |
| Rate of interest and frequency |
NIL |
| Auto-sweep facility |
Yes available. |
| Core Deposit / Threshold Deposit |
Rs 2,00,000.00 |
| Minimum Balance |
Qrtly average balance of Rs 2,00,000.00 |
| Initial FD amount |
Rs 25,000.00 and thereafter in multiples of Rs 25,000.00 |
| Sweep out procedure |
Amount will be swept-out to FD in a unit of Rs 25,000.00 and multiples thereon
|
| Sweep out periodicity (From CD to FD account) |
Fortnightly / 15 days. 1st and 15th of every month |
| Min Deposit period |
7 days |
| Max Deposit Period |
3 year. FD will be auto renewed on maturity and interest credited to the linked Current account.
|
| Rate of Interest on Fixed Deposit |
- Rate of Interest on Fixed Deposit as applicable to the relevant deposit period.
- Additional interest rate benefit to Senior citizen @ 0.50% on fixed deposit.
- No additional benefit to Staff / Ex-staff and Senior Citizen.
- On sweep-in : units will attract interest rate applicable to deposit period.
|
| Sweep-in |
Daily in multiple of Rs 25,000.00 |
| Sweep-in Method |
LIFO (LAST IN FIRST OUT) |
| Facilities / privileges available |
- Issuance of cheque Book: 50 leaves cheque book free per quarter.
- Free Balance certificate,
- Free signature verification.
- Email statement of account once per month free.
- Instant credit of outstation cheque upto ` 25,000.00
- Free Net Banking fee
- 50% concession on folio charges
- 50% concession in services charges for cash deposit at non home branch
- 50% concession in service charges/ commission for DD/BC
- Credit Card : First year free of chares. Limited to two partners/two directors/upto two persons of other bodies authorized to operate the
account
- 50% waiver of processing fees on car loan in the name of the proprietor/ firm/company
- 20% concession in locker rent, if rent is paid in advance for three years and above in lump sum
All other charges as per prevailing rules |
| Penalties |
Premature encashment of Fixed Deposit: Penalty as per the prevailing rule
Penalty for non-maintenance of Minimum Balance: Rs 300/-
Return of outstation cheque : Rs 500.00 |
| Loan Facility |
No |