Minimum account opening balance: Rs.10,000 (for insurance cover)
Monthly Average Balance Requirement: Rs.10,000
Profit Structure: 5.00 % per Annum
Special Privileges if monthly average balance Rs.10,000 or more
Privilege Coverage
Free life insurance cover Up to Rs. 1M
Accidental death cover Up to Rs. 2M
Permanent disability cover Up to Rs. 1M
Charges for account holder Free of charge
New account eligibility, for insurance cover, starts after 90 days from account opening.
Insurance cover provided by EFU Life Insurance.
Quick processing time for borrowing against funds.
The insurance cover is provided to the extent of average balance maintained in the account during last 90 days in case of natural death, whereas in case of accidental death the coverage provided is double. For of permanent disability, due accident, a percentage of sum insured is paid.
In case of joint or partnership accounts the benefit is apportioned pro rata for each account holder, i.e. if two account holders then the benefit is half for each, if three then a third for each, and so on.
other terms and conditions:
Fees and other charges will be as per applicable schedule of bank charges.
Zakat and Withholding Tax rules applicable
