Mahabank Royal Savings Account
Sl No | Particular | Details of Offer |
---|---|---|
i | Who can open account | Resident individuals (sole or joint account), HUFs,Associations, Trusts, Clubs, Societies etc. subject to ful filling eligibility criteria (domestic depositors) of Reserve Bank of India, on compliance of "Know Your Customer(KYC) Guidelines |
ii | Age | As required for normal SB Account with cheque facility |
iii | Initial Amount of Deposit | Account can be opened with zero balance |
iv | Minimum Balance | Minimum Monthly Average Balance (MAB) - Rs 1,00,000/- |
v | Personal Assistance | Special assistance of Relationship Manager If minimum MAB Rs 10 lakh, personal service by Branch Head (in absence of Branch Manager the Dy Branch Manager will provide the personal service) |
vi | Personal Air Accident Death Insurance Cover | Rs 50,00,000/-, Free of Cost |
vii | Personal Accidental Death Insurance (PAI) Cover | Rs 10,00,000/-, Free of Cost |
viii | Cheque book facilities | 100 free Personalized Cheque leaves per annum |
ix | ATM Cum VISA Debit Card | Free ATM Card while opening of Account (no maintenance charge) |
x | Higher Transaction Limit on Debit Card (per day) | Rs 0.50 lac at ATMs Rs 0.50 lac at Point of Sale (POS) |
xi | Internet Banking | Free Internet Banking Facility |
xii | Number of Transactions | Unlimited free transactions (No ledger folio/ account maintenance charges) |
xiii | NEFT/ RTGS | Free NEFT/RTGS through internet banking |
xiv | Demand Draft | Upto 3 Free DDs per month and upto 3 free delivery per month if ordered through internet banking |
xv | CBS transactions | Free transactions at all our CBS branches s.t. limit stipulated for such transactions from time to time (Rs 50,000 at present) |
xvi | Standing Instruction (SI) | Free registration and execution of SIs |
xvii | Collection of outstation Cheque | Immediate Credit of outstation Cheques upto Rs 25,000/- free of charge (not exceeding 2 cheques per month). |
xviii | Tax payment through ATM & Internet Banking | Free |
xix | Demat Account | Free for 1st year |
xx | Other Service Charges | 50% concession in processing fee of retail loans. |
xxi | Charges on Non Maintenance of Minimum MAB | Rs 1,000/- per quarter. |
xxii | Closing of A/C before 1 year | Penalty of Rs 1,000/- |