Corp Bank Corp Club
Corporation Bank was established in the early 1900s as a way to inculcate the habit of saving among the Indian population. Since then the bank has come a long way in terms of the services that it offers its customers. However, the bank's mission and vision of meeting the financial requirements of the country's citizens have remained the same.
One of the many services that the bank offers its customers is the current account. A current account is a type of bank account where the account holders enjoy significantly higher limits on the deposits and withdrawals made against their account. This type of account is primarily used by businessmen who require high liquidity.
Corporation Bank has few premium current accounts that it offers its customers. One of these is the Corp Club Current Account.
Features and benefits
The following are the features and benefits of Corporation Bank's Corp Club Current Account:
- Individuals who hold the Corp Club Current Account are expected to maintain a quarterly average balance of Rs.1 lakh. Non-maintenance of the quarterly average balance attracts a charge of Rs.1,000.
- Corporation Bank provides its Corp Club account holders with a concession on a float basis for bulk uploads made through NEFT and intrabank.
- Account holders have the privilege of availing the bank's multiple account sweep facility without having to incur any additional charges.
- The bank provides account holders with a discount on its payment gateway facilities.
- Transactions made at EDC terminals are waived of all service charges for the first 2 quarters.
- Directors and promoters obtain the bank's Signature debit card free of charge.
- Corporation Bank provides account holders with monthly email account statements and SMS alerts free of charge.
- Account holders can issue Demand Drafts up to Rs.10 lakh per day without having to incur any service charges.
- RTGS transactions, ledger folios, and stop payment facilities are provided free of charge.
- Corporation Bank issues 200 cheque leaves free of charge per year.
Eligibility criteria
Corporation Bank's premium Corp Club Current Account requires the applicant to fall under one of the following categories:
- Individuals above the age of 18
- Sole proprietorships
- Partnership firms
- Companies
- Hindu Undivided Family (HUF)
- Clubs
- Associations
- Schools
- Trusts
- Societies
- Committees
Corporation Bank provides its premium account holders with a host of benefits that would help further their business operations. The bank aims to provide its account holders with a wide range of banking products that are innovative and give the customers a superior banking experience.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
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