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
Eligibility
Terms & Conditions
Important Links

Features & Benefits

This account comes with a host of unique features:

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

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

Limited Liability Partnership (LLP)
One Person Company (OPC)
Public Limited
Private Limited Company

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