Notice to SB/CA/OD Account Customer
Introduction of new service charges including charges towards non-maintenance Of Monthly Average Balance (MAB) & Revision in existing service charges for Savings Account in CSGEN and CSINS in line with Retail scheme/ Corporate Current Account/Cash Credit/Overdraft Account
It has been decided to introduce /revise certain service charges and also introduce penal charges for non-maintenance of MAB w.e.f. June 1, 2016 which would be applicable to existing and new customers of the Bank in Corporate scheme.
Further, it has also been decided to implement the following criteria w.e.f June 1, 2016 for both existing and new customers:
The balance maintenance requirements under few savings product variant is being shifted from the present Average Quarterly Balance (AQB) to Monthly Average Balance (MAB);
Charges towards non-maintenance of MAB under both Savings Bank (Corporate scheme) in line with Retail scheme as well as Corporate Flexi Current Account variant is being introduced;
All the existing and the revised new charges would be quoted exclusive of Service Tax and the Service tax would be recovered from the customer over and above the charges towards services;
Balance requirement is defined based on branch classifications of Metro/Urban and Semi Urban. The details of the various changes are given in attached Annexure as listed below:
The charges for Saving schemes CSGEN and CSINS will be as per Retail scheme RSNEW an RSNGO respectively.
All the existing charges other than those listed in Annexure would continue albeit the same would be excluding the service tax. Service Tax would be recovered over and above the service charge quoted.