Indian Bank Supreme Current Account
Indian Bank was established over a century ago as a part of the Swadeshi Movement. The bank now has several bank branches all over the country, a few branches overseas, and over 200 overseas correspondent banks in approximately 75 countries. Indian Bank's vision is to be a financial institution that is committed to excellence and adding value to its customers. The bank aims to provide its customers with all financial products under one roof at an affordable cost.
One of the many financial products that Indian Bank offers is the current account. A current account is a type of bank account that is mostly used by businessmen who require high liquidity. The account has high limits on the cash deposits and withdrawals made against the account. One of the current accounts offered by Indian Bank is the Supreme Current Account. The account comes in 4 variants.
Features and benefits
The following are the features and benefits of the Supreme Current Accounts:
- The average monthly balance requirement for the Supreme Current Accounts differs based on the variant of the account that the customer chooses:
- Plan A: Rs.1 lakh
- Plan B: Rs.2 lakh
- Plan C: Rs.3 lakh
- Plan D: Rs.10 lakh
- The bank provides customers with its internet banking, statement of accounts, and demand drafts free of charge.
- Account holders can avail the bank's Comprehensive House Holders' Policy. The limits differ based on the variant of the account that the customer holds:
- Plan A: Rs.1 lakh
- Plan B: Rs.2 lakh
- Plan C: Rs.3 lakh
- Plan D: Rs.3 lakh
- Indian Bank account holders are given the privilege of free cash handling for the first 10 sections per day.
- Individuals can make unlimited cash withdrawals for themselves per day. The maximum amount that can be withdrawn per transaction is Rs.50,000.
Eligibility criteria
To be eligible to open a Supreme Bank Current Account from Indian Bank, the applicant will have to fall under one of the following categories:
- Individual
- Sole proprietorship
- Undivided Hindu Family (HUF)
- Partnership firms
- Clubs
- Associations
- Committees
- Limited companies
- Societies
- Schools Trusts
In addition to the benefits mentioned above, Indian Bank offers its Supreme Current Account holders an insurance cover and discounts on its service charges.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
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