BOM Co-Op Housing Society Savings Bank Account
Sr. No. | Criteria/ Features | Details : BOM Co-Op Housing Society Savings Bank Account | |||
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BoM CHS SB Lite | BoM CHS SB Advanced | BoM CHS SB Supreme | |||
1 | Purpose | The Bank is launching a new CASA product specifically for cooperative housing societies to diversify its portfolio and reach key customers. This solution not only serves these societies, which hold substantial balances, but also provides access to individual homeowners, facilitating future growth and relationship expansion. | |||
2 | Who Can Open Account | All registered co-op housing societies, resident welfare associations, apartment owners’ association (CHS / RWA / AOA) (who are eligible to open savings accounts) Note: “Societies registered under the society’s registration Act, 1860 or any other corresponding law in force in a state or a union territory except societies registered under the State Co-operative Acts and specific state enactment creating land mortgage Banks are only eligible to open accounts under this scheme.” | |||
3 | Minimum Average Balance | AQB (Average Quarterly Balance) ₹5,000/- | AQB (Average Quarterly Balance) ₹50,000/- | AQB (Average Quarterly Balance) ₹1,00,000/- | |
4 | Special offer | AQB not insisted upon having institutional deposits of ₹10.00 lakh or more. | |||
Transaction Related Services | |||||
5 | Cash Handling Charges | Up to ₹50,000/- Per Day :Free | Up to ₹1,00,000/- per day free | Up to ₹1,50,000/- per day free | |
6 | NEFT / RTGS | Digital channels – Free Branch Channel – As per prevailing Service Charges guidelines | Digital channels – Free Branch Channel – As per prevailing Service Charges guidelines | Digital channels – Free Branch Channel - 5 RTGS / NEFT free per day Beyond free limit: As per prevailing Service Charges guidelines | |
7 | Demand Draft | Standard charges applicable | First 2 DDs free per month (Max. ₹50,000/- per instance), beyond those regular charges applicable | First 5 DDs free per month (Max. ₹50,000/- per instance) , beyond those regular charges applicable | |
8 | Personalized Cheque Book | 2 chequebooks (20 leaves each) p.a. free | 5 chequebooks (20 leaves each) p.a. free | 10 chequebooks (20 leaves each) p.a. free | |
9 | Locker facility [Only Small & Medium Size] | Allotment on priority basis subject to availability; 10% Concession in First Year Locker Rent on Small Type Locker A / B / C | Allotment on priority basis subject to availability; 25% concession in locker rent on first year small Locker Type A / B / C | Allotment on priority basis subject to availability; 50% Locker Rent Concession in first Year for small locker Type A / B / C | |
10 | Balance confirmation certificate | One certificate free per annum | One certificate free per annum | Two certificate free per annum | |
11 | Staff Salary processing facility | Free | |||
Additional Benefits for Individual Flat owners of the Societies are as below | |||||
A | Average Quarterly Balance (AQB) | Rs. 2000/- for Metro & Urban Rs. 1000/- for Semi Urban Rs. 500/- for Rural Charge for Non-maintenance of AQB - As per prevailing Service Charges guidelines | |||
B | Personalized Cheque Book | 1 chequebook (20 leaves) p.a. free | |||
C | Retail Loan Benefits | 50.00 % waiver of processing fee for Home, Car, and Education loans. |
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D | Digital Facilities | Free Internet Banking / WhatsApp Banking / Digital statement | |||
E | Locker facility [Only Small & Medium Size] | Allotment on priority basis subject to availability; 10% Concession in First Year Locker Rent on Small Locker Type A /B | Allotment on priority basis subject to availability; 15% concession in locker rent on First year small Locker Type A /B | Allotment on priority basis subject to availability; 25% Locker Rent Concession in First Year for small locker Type A / B | |
F | METCO Services | Concessional Services at discretion of Bank | Assistance in writing of Will and Executant service with full confidentiality – Service will be provided through METCO with First Consultation Free and 25% discount on creation/modification of will. | Assistance in writing of Will and Executant service with full confidentiality – Service will be provided through METCO with First Consultation Free and 50% discount on creation / modification of will. | |
G | Demat Account Services | As per Normal Service Charges. | Free for first year, Free service for IPO application through branch. | Free for first year, Free service for IPO application through branch. | |
H | Applicable Charges for Various Facilities | Refer to latest Service Charges Guidelines |