The Flex Advantage savings account rolled out by ABN AMRO Bank- the third largest bank in the Netherlands - gives customers all the benefits that comes with a savings account at minimum requirement. Customers holding the ABN AMRO Flex Advantage Savings Account will have the benefit of an interest rate of 3.5% per annum on deposits.
Features and Benefits of ABN AMRO Flex Advantage Savings Account
- With the ABN AMRO Flex Advantage Savings Account, customers can bank from anywhere on the globe.
- Those holding this savings account can carry out regular banking procedures and transactions 365 days a year.
- Customers can make ATM withdrawals across the globe.
- SMS banking facilities available.
- Customers can pay their utility bills, make online reservations, online transactions, etc., through the ABN AMRO Flex Advantage Savings Account.
- Customers at will can request for an e-statement to keep a track of their expenses and savings.
- ABN AMRO Flex Advantage Savings Account holders are granted a free cheque book when opening the account.
- The ABN AMRO Flex Advantage Savings Account comes with an interest rate of 3.5% per annum.
- For every transaction, customers earn reward points.
- The customer automatically becomes a member of the rewards program as soon as he/she opens the ABN AMRO Flex Advantage Savings Account.
- Customers will receive customised alerts for every transaction made - when money is credited or debited from their account, they facilitate a fund transfer and so on.
- On opening the account, customers are granted an International debit card that comes with a daily purchase limit of Rs.50,000.
Eligibility for ABN AMRO Flex Advantage Savings Account
Any citizen of India that is 18 years and above is eligible for the ABN AMRO Flex Advantage Savings Account.
ABN AMRO Flex Advantage Savings Account Fees and Charges
|Category||Fees and charges|
|Non-maintenance of minimum quarterly average balance||
|Non-maintenance of minimum quarterly average balance for add-on accounts||
|ATM withdrawal charges at ABN AMRO Bank||Free|
|ATM withdrawal charges in India at other banks||Cash withdrawal at ATMs of banks under bilateral sharing of ATM network are completely free. Rs.50 per transaction is charged for withdrawals at UTI ATMs in India . Rs.50 per transaction for withdrawals at MasterCard/Cirrus ATMs in India.|
|Cash withdrawals in ATMs outside India||All withdrawals made at Mastercard or Cirrus ATMs abroad will be charged a withdrawal fee of Rs.120 per transaction.|
|Debit card||Gold Debit Card Annual Fee - Rs. 400 Indian Airlines Debit Card Annual fee - Rs. 250 Indian Airlines Debit Card enrollment fee - Rs.399|
|Debit card transaction limit||Debit Card spending limit per day (Non Gold) - Rs.50,000 Debit Card spending limit (Gold) - Rs. 1 lakh|
|Balance inquiry||At UTI Bank ATMs - Rs.5 At MasterCard/Cirrus ATMs - Rs.20|
|ATM cash withdrawal limit||Rs.50,000 per day for non-Gold debit cards. Rs.1 lakh per day for Gold debit cards.|
|DD cancellation or revalidation||Rs.50|
|Issue of Demand Draft||Rs.50|
|Bank statement||Monthly e-statements - Free Monthly physical statements - Rs.25 Quarterly physical statements - Rs.25 Half-yearly physical statements - Free Duplicate statement - Rs. 50|
|Cheque book||If the minimum quarterly average balance is not maintained, the customer is charged Rs.50 per cheque book.|
|Cheque Return||For cheques issued by you and have returned unpaid, Rs. 350 will be charged as a penalty per cheque For cheques deposited by you and returned unpaid, Rs. 100 will be charged per cheque|
|Outstation cheque collection||Outstation Cheques drawn and payable in India - Minimum of Rs. 50, Maximum of Rs.5,000 Foreign Currency cheques payable outside India - Minimum of Rs.150, Maximum of Rs.5,000|
|Stop cheque payment||Rs.100|
|Charges for account closure||A penalty of Rs.500 is charged if the customer closes the account within 12 months.|
|Interest certificate||Free Rs.50 will be charged for a duplicate certificate.|
Documents Required for ABN AMRO Flex Advantage Savings Account
Customers have to submit the following documents when applying to open the ABN AMRO Flex Advantage Savings Account.
Proof of address
- Electricity Bill
- Rent agreement
- Telephone Bill
- Bank account statement
- Ration Card
- Letter from recognised public authority
- Letter from Employer
Proof of identity
- Voter’s ID Card
- Driving License
- PAN Card or Form 60 / 61
- Letter from a public servant verifying the ID and residence proof of the customer
- For minors, if the guardian is illiterate, the birth certificate of the minor will be enough for proof of identity
ABN AMRO Flex Advantage Savings Account FAQs
1. Is this ABN AMRO Flex Advantage Savings Account for Indian customers working in Netherlands?
No you can open the ABN AMRO Flex Advantage Savings Account in India as well at the ABN AMRO Bank local branches. It is not reserved only for Indian nationals working in Netherlands.
2. Can you tell me what is the interest added on deposits for the ABN AMRO Flex Advantage Savings Account?
An interest rate of 3.5% per annum is offered on deposits in the ABN AMRO Flex Advantage Savings Account.
3. Can minors also apply for an ABN AMRO Flex Advantage Savings Account?
You have to be at least 18 years of age to apply for the ABN AMRO Flex Advantage Savings Account. That said, guardians or parents can open a savings account on behalf of the minor.
4. Is it possible to make fund transfers to other bank accounts using the ABN AMRO Flex Advantage Savings Account?
Yes you can.
5. Can I make online transactions on holidays using the ABN AMRO Flex Advantage Savings Account?
You can make transactions from your ABN AMRO Flex Advantage Savings Account 365 days a year - whether it is a holiday or not does not matter.