i. Name: Dena Super Premium Current Account Scheme
ii. Monthly Average Balance: Rs 2 lacs.
iii. Minimum Balance: Rs. 5000/-
a. Existing Customers who are already maintaining the monthly average balance of Rs.2 lacs& above and the minimum balance of Rs.5000 for one full calendar month will be eligible to avail of the scheme with immediate effect.
b. Existing customers who are not maintaining the monthly average balance of Rs.2 lacs and the minimum balance of Rs. 5000 in their Current account shall be eligible for the scheme only if they maintain the required average balance and minimum balance for one full calendar month.
c. The new customerswho want to avail this facility will open the account and maintain the required monthly average balance of Rs.2 lacs and the minimum balance of Rs. 5000 for one full calendar month after opening the account, to be eligible to avail the facilities.
v. Facilities provided:
a. Sweep in and sweep out facility: Automatic transfer of balance from Current Account in excess of Rs. 200,000/- to Fixed Deposit, in multiples of Rs. 25000/- and re-transfer of funds from the Fixed Deposit to Current Account in multiples of Rs. 25000/- only in “First in First out” basis.
Free Demand Drafts up to an aggregate amount of Rs. 2 lac per month
Free collection of Outstation cheques up to Rs. 1 Lac per month on the centers where we have branches. Actual postage & out of pocket expenses shall be borne by the account holder. Where we do not have a branch, only our commission will be waived. The account holder has to bear the commission of the agent bank in addition to postage & out of pocket expenses.
c. The above facility is subject to a maximum of 20 DDs or Outstation cheques per month as per month as per the option chosen by the customer at the time of opening the account or the system will choose the first transaction done by the customer as the option by default
d. Free Debit card
e. Free Internet Banking
f. Free RTGS/NEFT
vi. TDS will be deducted as per extant guidelines.
vii. Minimum & maximum period of fixed Deposit
a. At present, the minimum period of deposits of Rs.1 lac and above is seven days and that of others is 15 days. Therefore, the minimum period of term deposit (on sweep out ) will be 7 days for deposits of Rs. 1 lac and above, and 15 days for deposits below Rs.1 lac, which is subject to change from time to time.
b. The maximum period of term deposit (for the amount in excess of Rs. 2 lac transferred from Current Account) would be 181 days.
a. Monthly average balance of Rs.2 lac is to be maintained for one full calendar month.
b. A minimum balance of Rs.5000/- has to be maintained in the account at any point of time.
c. Card rate will be applicable for units converted to term deposits if the aggragate amount of adeposit so converted to term deposit is less than Rs. 1 crores per day.
d. Bulk deposit rate on term deposit to be announced by the Treasury Department every day would be applicable for units converted to term deposits if the aggregate amount of deposit so converted to term deposit is Rs.1 crore and above per day.
ix. Penalty for not maintaining the Minimum balance / Monthly average balance
a. Rs. 500 to be recovered at the end of the month.
b. All concessions shall be automatically withdrawn and normal charges will be levied.
c. The facilities will be restored only after the depositor maintains the minimum prescribed balance as stipulated in the scheme.
x. KYC Policy
All guidelines relating to KYC policy and anti-money laundering measures are to be strictly followed while opening and maintaining the accounts under the scheme.
The scheme is subject to change as and when found necessary.