Overview
This scheme facilitates auto sweep facility of conversion of available balance above Rs. 1.00 lacs to Term Deposits in multiples of Rs 0.25 Lac for a period of 07 to 30 days with auto reverse sweeping to honour cheques
Features
- Auto sweep facility for conversion of excess balance to term deposits.
- Free Cheque facility.
- Free Balance Certificate.
- Free Signature verification
- Free Remittance through NEFT and RTGS
- Free Account Statements (Two times in a month)
- Free Cash Handling Charge
- Waiver of Processing charge on Car loan proposals in the name of Account Holder
Eligibility
- Resident individuals of age above 21 years, proprietorship, partnership firms etc.
- Do not have Current/Overdraft account with other Banks.
Balance requirement
Minimum monthly average Balance of Rs 1,00,000.00.
Required documents
- Permanent Account Number(PAN)/ Aadhaar/ Passport / Driving Licence / Voter's Identity Card of individual/proprietors/partners as applicable.
- Recent Passport size photographs of proprietors/partners
- Trade License & GST registration certificate
- Partnership deed or certificate of incorporation (for companies)
- Board resolution (for companies or trusts)
- Address Proof such as utility bills etc.
Service Charge for default
Rs.1180.00 per quarter inclusive of Service Tax
Rate of Interest
As per term deposit table
