Indus Maxima Savings Account

1. Customers with the Maxima Platinum debit card enjoy higher daily withdrawal and spending limitations. The daily withdrawal limit for Maxima Platinum debit card members is Rs.1 lakh, while the daily spending limit has been increased to Rs.2 lakh. 
2. The Maxima Platinum debit card comes with insurance coverage as well. Insurance coverage is granted in cases such as lost or stolen card - resulting in misuse, air accident, death or disability. 
3. Up to Rs.250 waiver for fuel surcharge a month. 
4. The debit card comes with a 5X Reward Points program. Customers can earn points up to five times for every Rs.100 paid. When the card is issued, clients can select how they want to redeem their points. Cash back, shopping discounts from the redemption catalogue, miles, etc. 

1. The card is completely free for add-on accounts, but for primary accounts it is minimally priced at Rs.99 per year. 

Charges for non-maintenance of an Indus Maxima Savings Account:

Customers with add-on accounts who do not maintain the minimum balance face charges. Add-on accounts are based on the average balance of all three accounts. The following are the charges for non-maintenance: 

1. The average quarterly balance for an Indus Maxima add-on savings account is Rs.25,000. 
2. For accounts having a balance of less than Rs.25,000 and more than Rs.18,750, Rs.300 penalty is slapped on the account. 
3. For accounts less than Rs.18,750 and more than Rs.12,500, a penalty of Rs.600 is charged. 
4. For accounts having less than an average of Rs.12,500 in their account, they will have to pay a penalty of Rs.900. 

The penalty is deducted from the primary account - the one who opens the account initially. 

Eligibility criteria for Indus Maxima Savings Account:

Customers that have a good relationship with the bank are eligible to open an Indus Maxima Savings Account. That said, customers need to meet certain requirements to open an Indus Maxima Savings Account.

1. They have to be a resident of India, whether it is a single or a joint account.
2. Customer opening an account cannot be a minor.
3. Customers are eligible to open an account if they either run a Trust, a Society, or part of a Charitable organization.
4. Foreigners who have resided in India for more than 6 months can also open an Indus Maxima Savings Account. That said, they would need to provide the following documents:
   1. Have to provide their valid passport details.
   2. Provide their visa details.
   3. Lastly, should provide their proof of residency in India.

How to apply for an Indus Maxima Savings Account?

1. Customers who wish to apply for the Indus Maxima Savings Account can do so online by visiting the official website of the bank.
2. There, the customer would need to enter the mobile number which will automatically become the account number. However, the applicant can key in a 10-digit number of their choice as the account number.
   1. The customer must provide his or her mobile number, which will be converted into the account number automatically. However, the applicant might provide a 10-digit number of their choosing as the account number. 
   2. Any identity proof document - Passport, Aadhaar card, Voter’s ID, etc.
   3. Any address proof document - Passport, Aadhaar card, Voter’s ID, etc.
   4. One passport size photograph.
   5. PAN card details. If one does not have a PAN card, he/she can fill in Form 60/61 during the submission.
3. Customers will then have to make an initial deposit of Rs.25,000. For add-on accounts, an addition of Rs.1000 or more can be made on behalf of each member.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.