What is Corp Signature Savings Account?
Corp Signature Savings Account is a premium savings account by Corporation Bank offering exclusive benefits like high withdrawal limits, unlimited ATM access, and personal accident insurance. It’s ideal for customers maintaining a higher balance and seeking value-added banking services.
Just like no two individuals are the same, similarly no two individuals will have similar needs. It is no different when it comes to finance and savings. For this reason, Corporation Bank has introduced the Corp Savings Bank Account which offers a host of premium features to cater to your financial planning needs.
While this savings account requires a high Quarterly Average Balance requirement, it also provides enhanced features and benefits like unlimited access to other bank ATMs for easy access to cash, high cash withdrawal limits, concession on bank charges for purchase of gold coins, concession on locker rental facility, high daily purchase limits, complimentary Personal Accident Insurance Cover, Corporation Bank debit card, yearly cheque book with more leaves, greater number of online fund transfer transactions per month, along with a host of other such benefits.
Bank | Corporation Bank |
Category | Corp Signature Savings Bank Account |
Minimum Average Balance Requirement | The minimum Quarterly Average Balance to be maintained for this account is fixed at Rs 1 lakh. |
Interest | Interest will be paid at the rate of 4 percent per annum on the daily minimum balance available in the account. |
ATM / Debit Card | A Signature Debit card will be provided with this account, free of charge. |
Cheque Book facility | A personalized cheque book of 100 leaves will be issued to the account holder in a year. You also get a specially designed pouch to store your cheque book, cash or card. |
ATM Access | Customers get to enjoy unlimited access to non-Corporation Bank ATMs. |
ATM Cash Withdrawal Limit | You get to enjoy high ATM cash withdrawal limit of Rs 1 lakh. |
Point of Sale Purchase Limit | With the signature Savings Account, you get to enjoy a daily Point of Sale purchase limit of Rs 5 lakh. |
Locker Facility | Locker facility available. Enjoy a concession of 50% on the locker rental for the first year after account opening, along with priority locker allotment. |
Online Fund Transfer Facility | As a Signature Account holder you are permitted to carry out 5 RTGS based online fund transfer transactions per month. |
Demand Draft facility | Available, free of charge. |
Stop Payment Instructions | Available, free of charge. |
Account Closure | Available, free of charge. |
Standing Instructions facility | Available, free of charge. |
Issue of Certificates | Available, free of charge. |
Purchase of Gold Coins | Enjoy a 25% concession in bank charges for the purchase of gold coins. |
Demat Account | Facility Available |
Insurance Cover | Account holders get to enjoy complimentary Personal Accident Insurance Cover worth Rs 10 lakh, free of charge (subject to maintenance of Quarterly Average Balance) |
Non-maintenance of Quarterly Average Balance | A charge of Rs 500, along with applicable Service Tax, will be levied per quarter on non-maintenance of Quarterly Average Balance. |
Personalized Cheque Book Charges | Beyond the usage of the provided cheque book (100 leaves; free of charge), a charge of Rs 4 will be levied for every additional cheque leaf taken. |
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
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