Dynamic Current A/c

Overview

LDCA offers a proposition to customers wherein balances maintained in a linked Savings Bank Account can be swept into the Current Account to compensate for any shortfall in meeting payment obligations. Also, balances maintained in the Current Account above a certain threshold will be moved into the linked Savings Bank account, thereby earning interest.

Salient Features

  • Funds in excess of the specified minimum daily balance in LDCA will be moved to the linked SB Account of the customer at EOD, every day in tranches of INR 10,000 and in multiples of INR 10,000.
  • Free limit for fungible Cash Deposit – 12 times of prescribed LDCA MDB or 8 times of the combined balances in LDCA and linked SB account, whichever is higher.
  • Unlimited cash withdrawal at base branch
  • Rupay Platinum debit with 2 complimentary airport lounge facility
  • 50 DDs free per month subject to the maximum amount INR 50 Lakh.
  • NIL outward cheque collection and return charges

Eligibility

  • Individuals of age 18 years and above / Self-Employed Professionals, Sole Proprietors & HUF.

Documentation

 

  • All extant KYC guidelines applicable to opening Current Accounts shall be adhered to.
  • In addition, customer to provide an authorization to link a Savings Bank account to the Lakshmi Dynamic Current Account

Charges

Features Lakshmi Dynamic Current Account
Eligibility  
Minimum Daily Balance in INR
Metro 200,000/-
Urban 200,000/-
Semi-Urban 1,00,000/-
Rural 1,00,000/-
Sweep into LDC Account from linked Savings Bank Account Subject to availability of funds in the linked Savings Bank account, funds will be swept into the LDC Account, whenever a debit transaction is initiated in the LDC Account. This sweep-in will happen online, at the time of transaction itself.
Sweep-out from Current Account into linked SB Account Funds in excess of the specified MDB in LDCA will be moved to the linked SB Account of the customer at EOD, every day in multiples of INR 10,000.
Cash Remittance
At Base branch and non-base branch (Cash remittance limit is fungible) per month Free limit for fungible Cash Deposit (Base and & non-base Branch combined) - 12 times of prescribed LDCA MDB or 8 times of the combined balances in LDCA and linked SB account, whichever is higher. Above the free limit, cash remittances will be charged at Re. 1/- per Rs 1,000/-, subject to a minimum of Rs 20/-. The charges would be computed during the subsequent month, and the customer charged accordingly.
Cash Withdrawal
at base branch Unlimited Free
at non-base branch Free limit for non-base branch Cash Withdrawal INR 15 Lakhs per day, thereafter, Rs 2 per Rs 1,000/-, with a minimum of Rs 50/- per transaction.
Inward Clearing
at Base branch/non-base branch Free
Outward Clearing
at base branch Free
at non-base branch Free
Inward Clearing Cheque Return at base/ non-base branch
For all types of returns Rs 150/- + Taxes
Outward Clearing Cheque Return Charges
Collection Charges for Outstation/ Other Bank Cheques Free
DD/PO Charges 50 free per month subject to a maximum of INR 50 lakhs per month. Beyond this, charges will be levied at Rs 1.50 per Rs 1,000/-, subject to a minimum of Rs 50/- and a maximum of Rs 10,000/-.
RTGS/NEFT Combined free limit (RTGS+NEFT) of up to INR 50 Lakhs per day. Thereafter:
RTGS:
INR 2 to 5 Lakhs Rs 25/-
Above INR 5 Lakhs Rs 50/-
NEFT:
Up to INR 1 lakh Rs 5/-
Above INR 1 to INR 2 lakhs Rs 15/-
Above INR 2 Lakhs Rs 25/-
Quarterly Folio Charges Free
Cheque Book Upto 100 Cheque Leaves free per month, above which Rs 1.50 per cheque leaf will be charged.
Statement of Account Free
Debit Card RUPAY PLATINUM INTERNATIONAL Card free for the first year. Second year onwards charges applicable to the card variant will be levied.
Stop Payment Rs 200/- + taxes, subject to a maximum of Rs 1,000/- per request
Net Banking Facility Free
Transfer of funds within LVB Branches Free
IMPS Available, Transaction charges as applicable.
Non-Maintenance of MDB Service Charges (per month) Metro, Urban Semi-urban and Rural branches;
Rs 500/- + taxes.
Charges would be calculated and levied in the first week of the following month, on pro-rata basis, i.e., based on the number of days short fall.
CMS Available, charges as applicable.
SMS alerts Free
Linked Savings Account (Product Code-335): Zero Balance Savings Account linked to Lakshmi Dynamic Current Account

 

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