These accounts are designed for those who wish to earn interest on their current accounts.This current deposit is a high value product where sweep facility is available allowing transaction without limiting the Numbers.
All individuals including minors of 14 years and above, traders, trust, businessman, corporate, HUF, proprietorship / partnership firm, private / public ltd cos., club, association, societies & banks and financial institutions.
Earn interest through sweep unit in your current account.
Statement of account and balance certificate will be obtained at no cost.
Get fifty percent discount on PO/DD/MT facility.
Avail RTGS/NEFT facility without any charges.
No penal charges in case of liquidation of sweep unit before maturity.
Free ATM card.
Waiver of processing charges in case of Car Loan and Housing loan .
Twenty percent discount in Locker charges.
Minimum Balance of Rs.10,000/- will be required to be maintained.
Sweep unit will be for a fixed amount of Rs.1,00,000/-.
If balance in current account goes below Rs.25,000/- than last sweep out unit will be liquidated in current account.
Period will be 30 days for sweep out unit.
The Bank is required to obtain two recent photographs of the person/s opening / operating the account.
Minimum balance as stipulated from time to time will be required to be maintained.
No interest is paid on credit balances kept in current account.
Service charges are levied for Ledger folio used, Cheque books issued, Non-maintenance of minimum balance, Return of cheques etc.
As per RBI directive, the applicant (i.e. account opener) should declare in the account opening form or separately that he is not enjoying any credit facility with any Bank and if he does enjoy any facility / facilities, he should declare full particulars thereof indicating the name of the bank and name of the branch wherefrom he has availed these facilities.
