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Current Account for MCA Registered Entities - CASIL
We offer a wide range of Current Accounts that come with various features tailored to meet the multiple banking needs faced by customers. With this new product, MCA registered entities will be free from the compulsion of monthly average balance maintenance, even as they enjoy various unique features for free. These unique features will be offered with a new scheme code “CASIL”- Current Account for MCA registered entities.
Features & Benefits
- Zero Monthly Average Balance requirement
- Fungible Cash Deposits between Home & Non-Home Branch of 8 times MAB with minimum cash deposit limit of Rs.1 lakh and maximum cash deposit limit of Rs. 3 crores
- NIL Monthly Service Fee if MAB >= Rs. 30,000, Else Rs.100
- Debit card facility available
- Internet Banking/Mobile Banking facilities will be offered
This account comes with a host of unique features:
- Nil BNA convenience
- Unlimited NEFT/ RTGS payments
- Monthly POS rental: 50% rental waiver on MDAB >= ₹50,000/-, 100% rental waiver on MDAB >= ₹1,00,000/-
- Unlimited free transactions: Cash withdrawals for Home Branch, Cheque book, DD/ PO, E-Statement, SMS Alert, Standing instructions & Certificate of balance
Eligibility
Eligibility for MCA Registered Entities - CASIL
Terms & Conditions
- All the terms are subject to change without any prior notice
- All the service charges will attract GST as applicable
- Charges are applicable as per the transactions done during charge cycle period. The charge cycle period shall be first of every month to the last day of the same month for all scheme codes.
- Cheque Transactions are subject to 48-hour notice and Bank's confirmations for transaction exceeding Rs 1 Crore a day where the destination branch is a Non-RBI centre. (RBI centres are: Mumbai, Chennai, Kolkata, New Delhi, Ahmedabad, Hyderabad, Jaipur, Kanpur, Nagpur, Trivandrum, Bhubaneswar, Chandigarh, Bangalore, Guwahati, Bhopal & Patna)
- All cash transaction of Rs 10 Lacs and above on a single day will require prior intimation and approval of the Branch at least one working day in advance
- Maximum Non-Home Branch Cash Deposit / withdrawal per day shall be Rs 1 Lac. Maximum third-party deposit / withdrawal up to 50,000 per day. Beyond this the cash transactions may be carried out at the discretion of branch head where the cash is being deposited / withdrawn
- Monthly charges applicable in a current account will be based on the scheme code of that account in the current month
- The customer hereby agrees and acknowledges that Bank shall have the right to recover any charges as may be payable by the customer to the Bank, by debiting or making repeated attempts to recover the same, from any operative account held under same customer id, where funds are available.
- Monthly Average Balance (MAB) or Average Quarterly Balance (AQB) is the average of day end balance maintained by the customer for the duration
- Physical statements will not be sent for the current account where there are no transactions consecutively for 6 months
Related Products
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Current Account - Normal
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Current Account - Classic
- Monthly Average Balance
Monthly Average Balance requirement of Rs. 100000/- (Metro & urban branches) , Rs. 50000/- (Semi-urban & rural branches) - Monthly Cash Deposit Limit
Enjoy Monthly Cash Deposit limit @ 10 times MAB up to maximum of ₹1 Cr - Cash Withdrawal
Unlimited for Home Branch, Rs. 100000 per day for Non Home Branch.
Cash Deposit/month:
₹ 1 Cr
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