Current Account for Banks

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Overview

This product seeks to address the specific requirements of Banks which handle financial and non-financial transactions in high volumes every day. One of the critical requirements is managing funds, especially cash, which banks deposit in their current accounts held with other Banks.

This product is tailor made solutions for Banks as a segment.

Salient Features

  • Unlimited cash deposit at base branch
  • Unlimited cash withdrawal at base branch
  • Zero Balance account with NIL AQB Charges
  • NIL Collection charges for Outstation Cheques
  • Free RTGS & NEFT
  • Free unlimited cheque leaves
  • Free ECS return charges

Eligibility

  • PSU Banks, Private Sector Banks, Co-operative Banks, Small Finance Banks, Payments Banks, as well as multinational and foreign banks.

Documentation

  • All extant KYC guidelines applicable to opening Current Accounts for banks shall be adhered to.

Interest Rates & Charges

Sr.No Feature CA for Banks

1

 Average Quarterly Balance(AQB) NIL

2

 Cash Deposit
At Base Branch Free
At Non base Free up to Rs. 1, 00,000/- per day; thereafter chargeable at Re. 1/- per  Rs.1000/-

3

 Cash withdrawal
  At base Branch Free
At Non base Free up to Rs. 1,00,000/- per day; thereafter chargeable at Re. 1/- per Rs. 1,000/-

4

 Inward Clearing Charges
At base /non base branch Free

5

 Outward Clearing  Charges
At base / non base branch Free

6

 Inward Clearing Return Charges at base / non-base branch Rs. 100/- per cheque

7

 Outward Clearing Return Charges at base / non-base branch Rs. 50/- per cheque

8

 Collection   charges for  Outstation Cheques NIL

9

 Outstation cheque collection return charges Rs. 50/- per cheque plus other bank charges and out of pocket expenses, if any

10

 DD/PO Charges Free

11

 RTGS and NEFT Free

12

 Quarterly Folio Charges Free

13

 Cheque Book Free

14

 Statement of account Free email statement

15

 Debit Card NA

16

 Stop Payment Free

17

 Net Banking Facility Free

18

 Transfer of funds between CBS branches Free

19

 IMPS(Handy Pay) NA

20

 Charges for non-maintenance of
AQMB		 NA

21

 SMS Alerts Mandatory transaction SMS alert free, others chargeable. SMS will be sent in case there is any change in day end balances.

22

 Account Closure charges Free

23

 Standing Instruction Free

24

 ECS Return (charges/Penalties levied by destination branches for ECS(debit) returns due to non-availability of funds in customer account) Free

25

 *Cash Management Service(CMS) NA

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