Features & Benefits of Startup Current Accounts
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Features & Charges
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SIB Business Startup Current Account
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SIB Corporate Startup Current Account
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Eligibility
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- Sole proprietorships
- Partnerships
(GST registration is mandatory and is to be submitted for a/c opening)
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- Private Limited Companies
- Public Limited Companies
- One Person Companies
- Limited Liability Partnerships
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Date of Incorporation/Registration must be within 3 years prior to the account opening date
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Minimum Balance Waiver Period
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Waiver for 2 years
(Account opening month excluded)
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Waiver for 3 years
(Account opening month excluded)
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Average Monthly Balance after Waiver Period
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Rs 25,000 (Rural/Semi-Urban)
Rs 50,000 (Metro/Urban)
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Rs 50,000 (Rural/Semi-Urban)
Rs 1,00,000 (Metro/Urban)
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Charges for non-Maintenance
of AMB (as and when applicable)
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Accounts maintaining <50% of required AMB – Rs. 650
Accounts maintaining >=50% but <100% of required AMB – Rs.500
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Accounts maintaining <50% of required AMB – Rs.800
Accounts maintaining >=50% but <100% of required AMB – Rs.650
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Debit Card
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Free Master Business Platinum/ Visa Platinum /Rupay Platinum Debit Card
(AMC waived for 1 year and waived in the subsequent years if AYB is over Rs 25,000/-)
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Free Master Business Platinum Visa Platinum / / Rupay Platinum Debit Card
No AMC Charges
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ABB Cheque Leaves
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100 Free/ Month
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100 Free/ Month
For every additional AMB of Rs.1,00,000/- maintained over the required Product AMB, the customer will be eligible for additional 100 Free cheque leaves. (Max 1000 cheque leaves per Month)
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RTGS/NEFT
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Digital channel: Free & Unlimited transaction
Branch Channel: 50 Free transactions/ Month.
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Digital channel: Free & Unlimited transaction
Branch Channel: 100 Free transactions/ Month.
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DD/PO
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30 Free/ Month
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50 Free/ Month
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Folio Charges
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Nil Charges
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Nil Charges
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UPI POS
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Free (1 Nos)
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Free (1 Nos)
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SIB ATM transaction
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Free & Unlimited
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Free & Unlimited
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Cash Deposit
(Home & Non-Home Branches)
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Free up to 15 times of previous month AMB (Maximum of Rs. 4 Cr) per Month
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Free up to 15 times of previous month AMB (Min. 3 Lakh and Maximum of Rs. 4 Cr) per Month
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Cash withdrawal
(Home & Non-Home Branches)
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Free &Unlimited (TDS Applicable)
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Free &Unlimited (TDS Applicable)
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SMS Alerts
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Free
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Free
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Other applicable service & charges as per compendium of Service Charges