Cent Samvridhi Savings Account

Type of Account

Resident Savings Account

Eligibility

Residents above 18 years of age

Mode of holding A/c

Singly / Jointly / Jointly with survivorship benefits

Rate of interest and frequency

Applicable as per latest deposit rate  and daily basis

Auto-sweep facility

Yes available.

Core Deposit /Threshold Deposit

`Rs 50,000.00

Minimum Balance

Quarterly average balance of Rs 25,000.00

Initial FD amount

Minimum Rs 5000.00 and thereafter in multiples of Rs 5000.00

Sweep out procedure

Amount will be sweeped out to FD in a unit of ` 5000.00 and multiple thereon

Sweep out periodicity (From SB to FD account)

Daily.

Max Deposit Period

179 days. FD will be auto renewed on maturity and interest credited to the linked Saving account.

Rate of Interest on Fixed Deposit

Rate of Interest on Fixed Deposit as applicable to the relevant deposit period.
Additional interest rate benefit to Senior citizen @ 0.50% on fixed deposit.
No additional benefit to Staff/Ex-staff and Senior Citizen
On sweep-in: units will attract interest rate applicable to deposit period

Sweep-in

Daily in multiple of  Rs 5000.00

Sweep-in Method

LIFO  (LAST IN FIRST OUT)

Facilities / privileges available

• Free ATM cum debit card
• 50% waiver in first year’s credit card fees
• Free Net Banking
• Free stop payment instruction max two per month.
• 50% concession on Demat AMC charges for first year

All other charges as per prevailing rules.

Penalties

Premature encashment of Fixed Deposit: Penalty as per the prevailing rules.
Penalty for non-maintenance of Minimum Balance: Rs 300/-

Loan Facility

No