Overview of Corporation Bank Corp Arambh Savings Account
A savings account will not just help you keep track your finances better but it will also help you save more. Corporation Bank Corp Arambh Account will offer you all the traditional benefits of a savings account in a modern, power-packed manner. This zero - balance account comes with a variety of customer - centric features like Internet banking, Corporation Bank debit card transactions nomination facility and SMS Banking facility.
|Category||Corporation Bank Corp Arambh Account|
|Minimum Average Balance Requirements (MAB)||Nil (zero - balance account)|
|Debit Card Offered||Corporation Bank Visa Debit Card|
|Interest Rate||4% per annum on daily minimum balance|
Services Offered with Corp Arambh Savings Account
The services offered with Corporation Bank Corp Arambh Savings Account are listed below.
|Passbook and e-Statements||Passbook will be offered free of cost with account opening kit. E- Statements will be sent to the registered email id of the customer at a nominal charge.|
|SMS Alerts||SMS Alerts are offered at a nominal cost of Rs. 100 plus service tax per annum.|
|Cheque Book||40 personalized cheque leaves per annum will be provided at no extra cost. Additional cheque leaves will cost Rs. 4 per leaf.|
|Cash Withdrawal||Other Bank ATMs - 5 transactions (financial and non - financial) free per month. Corporation Bank ATMs - Free unlimited transactions|
|Internet Banking||Internet Banking facilities will be offered at a nominal charge.|
Features of Corporation Bank Corp Arambh Savings Account
Here are some of the features and benefits of Corporation Bank Savings Account.
|No Minimum Balance Required||Corporation Bank Corp Arambh Savings Account is a zero balance account.No minimum balance requirements means easy savings and more liquidity!|
|Nomination Facility||Corporation Bank Corp Arambh Savings Account holders can appoint a nominee to act on the account in case of untimely demise of the account holder.|
|Hassle Free Banking||Corp Arambh Savings Bank Account customers can use Net Banking and SMS Banking facilities to transact without any hassles.|
|High PoS Limits||Corporation Bank Corp Arambh Savings Account holders can use their Visa debit card to withdraw up to Rs. 25,000 from the ATM and transact for up to Rs. 50,000 at merchant point of Sale.|
|Value Added Services||Corporation Bank Corp Arambh Savings Account customers get access to other essential banking services like inland remittance facility, passbook, ABB facility and personalized cheque book.|
|Easy Application Process under Simplified KYC||The applicant has to submit a self attested photograph and affix thumb impression on the form in presence of concerned authorities for account opening. They can submit full KYC Documents within 2 years of account opening to upgrade the account to normal SB Account or Copr Pragathi Account.|
Fees and Charges for Corp Arambh Savings Account
The charges for various products and services that are offered to Corporation Bank Corp Arambh Savings Account holders are as given below.
|Service / Product||Fees & Charges|
|Stop Payment Instruction Charges||Rs. 50 plus service tax per cheque (Up to a maximum of Rs. 250)|
|Charges for non-maintenance of Quarterly Average Balance||Rs. 100 per service tax|
|Account Closure Charges||NA|
|RTGS Charges (doe through bank)||For transfer of Rs. 2 lakh to Rs. 5 lakh - Rs. 25 to Rs. 30 For transfer of Rs. 5 lakh and above - Rs. 50 Outward Transactions after 3.30 PM - Rs. 30|
|Duplicate Passbook||With latest entry : Rs. 100 With previous entries per page : Rs. 100 Beyond six months’ entries per page : Rs. 150|
|Interest Certificate and issue of duplicate deposit receipt||Rs. 100|
|ECS Return Charges||Rs. 200 per transaction|
|Standing Instruction Charges||For setting up the Standing Instruction - Rs. 40 (one time charge) For execution of standing instruction - no charge|
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.