Be smart with SIB Premium SMART

CD Premium Smart A/c – Features/Terms & Conditions
A Business Banking A/c tailor made with FREE & FLEXIBLE limits
 
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 transfer/ clearing transactions both debit as well as credit transactions.
  2. Non parent branch clearing / transfer - credit transactions.
  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 three 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,38 RTGS/NEFT transactions, 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 3 services will be offered free of charges and without any upper limits. Free unlimited cash remittance applicable to CD Smart accounts keeping average minimum balance of Rs. 5 Lakhs and above is discontinued w.e.f 01.10.2017
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.3/- per additional leaf.
2. 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.
3. 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 4 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)
Rs. 4/- per Rs. 1000/- with a minimum of Rs. 200/- and a maximum of Rs. 800/- per cheque/ECS mandate returned
3. Local clearing return (instruments deposited by the customer)
Rs.50/- per instrument.
4. Outstation cheque collection return
Rs.50/- per instrument. Other Bank Charges extra.
Cash Handling Charges applicable
1.Cash withdrawal at Branches
FREE unlimited
2. Cash deposit at branches
a.Rs.3.00 lakh per MONTH
b.15 times the AMB (Average Monthly Balance) of previous month.
c. Charges for additional remittances (Parent
Branch& non parent Branches) – Rs 175/ per lakh.
d.All CD Accounts, including CD Smart (by
BANKS, NBFCs , NIDHI, Kuri Companies etc.where financial service is the line of activity - 8 times of the AMB of previous month

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