➤ Facility is available only on specific request of the customer.
➤ Current Account combine with “sweep-in and sweep-out” facility to take care of withdrawals.
➤ Facility is available to current deposit account holders of individuals, proprietorship, partnership, School, College and other institutions other than TC societies.
➤ Daily minimum balance of ₹ 1,00,000.00 in current A/c is required.
➤ Amount in excess of ₹ 1,00,000.00 will be transferred to Flexi FD A/c in multiple of ₹ 50,000.00 for a minimum period of 15 days and maximum period of 91 days.
➤ Rate of interest: 15 days to 29 days – 4% p.a. and 30 days to 91 days – 5.75% p.a. subject to change from time to time without prior intimation to the A/c holder.
➤ Flexi FD will be created for 91 days and interest thereon will be credited into linked current account.
➤ To meet urgent requirement of funds in the Current A/c, funds in multiples of ₹. 50,000.00 will be swept-in from Flexi FD A/c on last-in-first-out basis subject to availability of funds.
➤ Automatic renewal facility for original tenure and amount of deposit
➤ Interest will be payable on flexi FD only as per maturity period.
➤ Payment before maturity will be allowed without penalty, to meet shortfall in current A/c if any, subject to availability of funds.
➤ Penalty charges of ₹. 500.00 per month will be levied where the balance in current deposit account falls below the minimum stipulated amount.
➤ TDS as applicable.
➤ No physical FD receipt will be issued.