Catering to the need of salaried employees, ABN AMRO Bank has rolled out the Incentiv savings account. The ABN AMRO Incentiv is a zero-balance savings account and customers are granted a free credit card along with an add-on card when opening the account. In addition, employees are granted a debit card which is free for the first year. In short, the ABN AMRO Incentiv savings account comes with all the benefits of a savings account and more.
Features and Benefits of ABN AMRO Incentiv Savings Account
- The ABN AMRO Incentiv is a zero-balance savings account. In other words, there is no requirement for a minimum balance.
- Free International debit card for the first year. With the International debit card, customers can shop at more than 22,000 Maestro outlets across India and at over 6 million outlets across the globe.
- Customers have the benefit of the Safety Shield - which is a temporary overdraft facility.
- With every transaction made through the customer’s net banking account or using their credit card or debit card at merchant outlets, customers can enjoy the benefit of reward points. The earned reward points can be redeemed in the form of gifts.
- Customers can use their net banking account every day of the year between 10 a.m. and 7 p.m.
- Through the ABN AMRO Incentiv savings account, salaried employees can avail personal loans at attractive interest rates. They can even avail car loans up to 90% of the price of the car.
- Salaried employees holding the ABN AMRO Incentiv savings account can even avail a variety of insurance products according to their needs, ranging from car insurance, to medical insurance, personal accident insurance, travel insurance and so on. The premium for the insurance products will automatically be debited from the customer's account.
- Employees can carry out banking procedures at any bank branch of ABN AMRO across India.
- Free portfolio statements.
- Combined interest certificates for add-on accounts.
- Customers can also enjoy the benefit of a free credit card plus an add-on card when opening the account. They can also apply for the Smart Gold card plus an add-on card - all for free.
- Customers will receive SMS alerts for every transaction made. With the help of these alerts, customers can keep a track of the money in and out of their account.
- With the ABN AMRO Incentiv savings account, salaried employees can enjoy the convenience of internet, phone and mobile banking.
Eligibility for ABN AMRO Incentiv Savings Account
Citizens of India that are 18 years and above are eligible for the ABN AMRO Incentiv savings account.
ABN AMRO Incentiv Savings Account Fees and Charges
For salaried employees holding the ABN AMRO Incentiv savings account, listed below are the fees and charges that come with the account.
|Category||Fees and charges|
|Overdraft interest||Salaried employees can avail the overdraft facility at an interest of just 1.5% per month - that’s Rs.150 for a sum of Rs.10,000. Customers taking home a salary of just Rs.10,000 can pay the interest of the overdraft facility in the following month.|
|Cash withdrawal at ATMs in India||All cash withdrawals from UTI ATMs are completely free.|
|Debit card fees||For the first of enrollment, the debit card is completely free.|
|Cheque book fees||Free|
ABN AMRO Incentiv Savings Account FAQs
1. Are self employed individuals eligible for the ABN AMRO Incentiv savings account?
No, the ABN AMRO Incentiv savings account caters only to salaried employees.
2. What is the interest rate on deposits for the ABN AMRO Incentiv savings account?
The ABN AMRO Incentiv savings account comes with an interest rate of 3.5%.
3. Are minors eligible to open the ABN AMRO Incentiv savings account?
No, they are not. However, parents or guardians can open the ABN AMRO Incentiv savings account on their behalf.
4. Can I link my credit card from another bank to the ABN AMRO Incentiv savings account?
You can make payments from your ABN AMRO Incentiv netbanking account towards your credit card but you cannot link it.
5. How do I pay for the premiums of the insurance products on offer?
You can make payments through your ABN AMRO Incentiv net banking account.