You are here Business BankingBusiness Accounts
Business Accounts

 
 

Premium - CD SMART

Be smart with SIB Premium SMART

Brochure

 

CD Premium SMART A/c - Features / Terms & Conditions as on 01/12/2011
 
A Business Banking A/c tailor made with 26 FREE & FLEXIBLE limits!      
A total FREE business banking A/c @ Rs. 5 lakh (AMB).
 
A.      Minimum Balance & Non-Commitment Fee:
Particulars
Features /Service charges/Remarks
1.      Average Monthly Balance (AMB)
Rs. 50,000/- in Metro & Urban centers.
Rs. 25,000/- in Rural & Semi-Urban centers.
2.      Non-commitment fee if AMB is not maintained.
Rs.500/- per month. However the basic flexible free limits will be permitted without any additional service charges.
B.      Free services:
  1. Parent branch cash / transfer/ clearing transactions both debit as well as credit transactions. (Cash handling charges @ Rs.10/- per 100 notes for deposits above 3,000 notes per day will be collected extra both at the parent as well as non parent branches).
  2. Non parent branch clearing / transfer - credit transactions within same clearing zone.
  3. Non parent branch clearing / transfer - debit transactions.
  4. Local cheque / ECS clearing facility.
  5. Fund transfer through Net Banking within the bank.
  6. Automated SMS alerts to one registered mobile number.
  7. Registration / Modification / Execution of Standing Instructions. (Actual postage & remittance charges extra, if applicable)
  8. Transaction charges (no folio charges)
  9. Duplicate A/c statement print as per request.
  10. Duplicate / Cancellation / Revalidation charges for Demand Drafts.
  11. A/c balance certificate.
  12. Power of Attorney / Mandate – Registration / Modification.
  13. Photo attestation.
  14. Duplicate interest certificate as per request.
 C. Flexible Free Limits:  Method of calculation: For every additional Rs.25,000/- maintained towards AMB, the customer will be eligible for additional free limits @ 25% of the following seven basic free limits. For example, if the AMB for a particular month is Rs.80,000/-, then the eligible free limits will be 125 cheque leaves, Rs.93,750/- each for cash deposit & withdrawal through non parent branches, Rs.37.50 lakh towards monthly clearing / transfer credit from non parent branches and so on. If the AMB maintained during a particular month is Rs.5 lakh & above, then these 7 services will be offered free of charges and without any upper limits. Other bank service charges if any will be collected extra.
Particulars
Free limits / Features / Service charges (These service charges  for a particular month will be recovered during the month end, based on the AMB maintained in the A/c)
1.      Cheque facility - both ordinary as well as At Par Payable
100 leaves free per month. Rs.2/- per additional leaf.
2.      Non parent branch cash withdrawal
Rs. 75,000/- free per working day. Rs.3/- per every additional Rs.1000/-
3.      Non parent branch cash deposit
Rs. 75,000/- free per working day. Rs.3/- per every additional Rs.1000/-
 
(Cash handling charges @ Rs.10/- per 100 notes for deposits above 3,000 notes per day will be collected extra both at the parent as well as non parent branches)
4.      Non parent branch clearing / transfer credit transactions from other clearing zones.
Rs.30 lakh free per month. Rs.5/- per every additional Rs. 1 lakh.
5.      Out station cheque collection & instruments of value above 1 lakh presented through speed clearing.
SIB commission free for first 50 instruments per month. SIB commission of Rs.25/- flat per additional instruments. Other Bank Charges extra.
6.      Purchase of Demand Draft / Payment orders
Rs. 5 lakh & 30 instruments free per month. Rs.1/- for every additional Rs.1,000/- & Rs.10/- for every additional instrument.
7.      RTGS/NEFT fund transfer
Inward: Free
Outward: first 30 RTGS/NEFT transactions free per month. Rs.5/- per every additional Rs.1 lakh.
D.     Other service charges:  
If the AMB maintained during a particular month is Rs.5 lakh & above, then these 5 services will be offered free of charges and without any upper limits. Other bank service charges if any will be collected extra.
Particulars
Service charges / Remarks (These service charges for a particular month will be recovered during the month end, based on the AMB maintained in the A/c.)
1.      Cheque stop payment
Rs.50/- per instrument.
Rs. 200/- for a batch of more than 3 instruments at a time.
2.      Local clearing return (Cheque / ECS) issued by the customer)
Cheques: Rs.2/- per Rs.1,000/- & Minimum Rs.200/- per instrument.
ECS: Rs.2/- per Rs.1,000/- & Minimum Rs.100/- per instrument.
3.      Local clearing return (instruments deposited by the customer)
Rs.30/- per instrument.
4.      Outstation cheque collection return
Rs.30/- per instrument. Other Bank Charges extra.
5.      Cash handling charges
Rs.10/- per 100 notes for cash deposits above 3,000 notes per day both at the parent as well as non parent branches.

Note: For full details please contact our branches or email to customercare@sib.co.in