Skip to Content
I am a
Current Account
Indus Grain Merchant
Compare(1)

Overview

Indus Grain Merchant current account

We at IndusInd Bank are pleased to present to you - Indus Grain Merchant & Grain Merchant Flexi, a current account which has been designed especially for your business needs in the agricultural trading market. While you tend to your customers, leave all your banking requirements to our team of specialised professionals, thereby giving you the freedom to grow your business and take it to the next level.

Explore the options of fixed transactions limit and flexible transaction limits under two options: Indus Grain Merchants and Indus Grain Merchants Flexi. Choose your product basis the seasonal requirement and experience hassle free banking.

Check the benefits and refer schedule of charges for more details.

Click here to know more about our USPs.

Benefits

Indus Grain Merchant current account benefits

Key benefits of Indus Grain Merchants Account:

  • Free* at par payable cheque book
  • Freedom to withdraw cash* from any of our branches across India
  • No AMB chargesin the off season (July to September of any calendar year)
  • Payable at par cheque books are treated as 'local clearing' across 450+ branches in 300 locations in India
  • Collect your fundsat any of our 300 locations by depositing cheque at the same location
  • Easy accessto your account through our electronic access points:Net Banking, Phone Banking and Mobile Alerts
  • Save time by opting forDoorstep Banking** and experience the difference of new age banking services

Key benefits of Indus Grain Merchants Flexi Account:

  • AMB of Rs. 1 lac
  • Flexible cash deposit limit based on previous month AMB
  • Fungible cash deposit between Home and Non-Home location
  • Platinum Debit Card with cash withdrawal limit of Rs. 2 lacs per day
  • Free cheque pickup once a day at all DSB approved locations

Specialised Services

Specialised services of Indus Grain Merchant current account

IndusInd Bank offers, various services associated with your current account to cater to your growing business requirements.

  • Trade Services: IndusInd Bank offers a range of Trade Services to suit your specific requirements and structure solutions for your business needs including Letter of Credit, Bank Guarantee and Inland Trade Services.
  • Indus EEFC Account: Specialised account in leading currencies (USD, Euro and GBP), to enable you to hedge adverse exchange rate fluctuations.

SOC Grain Merchant

Schedule of charges Indus Grain Merchant current account

Schedule of Charges: Indus Grain Merchants w.e.f 1st April 2015

AMB & CHEQUE BOOK CHARGES
Average Monthly Balance Requirement Rs. 1,50,000/-
Charges for Non-Maintainance of AMB (Monthly) Rs. 4000 per month
Waiver of NMC Charges July to September
Cheque Book Issuances (Payable At Par)
(50 leafs Book)
2 cheque books free per month
Charges of Cheque Book on additional usage1 Additional charge Rs. 2 per leaf
COLLECTIONS
Local Cheque Deposit Free
Cheques Deposited at Any location of Indusind bank for clearing in same location Free
Outstation Cheque Deposit on Indusind Location (inclusive of all charges and service tax)2 Free
Outstation Cheque Deposit on Non-Indusind Location
Instrument Value Charges (Inclusive of all Charges)
Up to and including 5,000 Rs. 25/-
Above 5,000 and up to and including 10,000 Rs. 50/-
Above 10,000 and up to and including 1,00,000 Rs. 100/-
Rs 1,00,000 Rs. 200/- per instrument
Funds Transfer (Between any Indusind Bank Branches) (Online/through Branch)2 Free
PAYMENTS
Funds Transfer (Between any Indusind Bank Branches) (Online/through Branch)2 Free
Payments through payable at par cheque Free
DD/PO (At Branch Locations)
Free Limit Rs. 100 lacs per month
Charges on Additional usage Rs. 1/1000 Min Rs. 25 Max Rs. 10,000
DD/PO (Correspondent Bank Location)
Free Limit Rs. 10 lacs per month
Charges on Additional usage Rs. 2/1000 Min Rs. 100 Max Rs. 15000
DD/PO (Non-Correspondent Bank) Rs. 3/1000, Min Rs. 100 Max Rs. 15000
NEFT (NATIONAL ELECTRONIC FUNDS TRANSFER)5 Free
RTGS (REAL TIME GROSS SETTLEMENT)6 Free
CASH TRANSACTIONS
Cash Deposit at Home Location
Free Limit per month (Home Location)3 Rs. 25,00,000 per month
Additional Charges on incremental deposits Rs. 3/1000 ( Minimum Rs. 50/- per transaction)
From July to September No Free limit: Rs. 3/1,000
Free Limit per month (Non-Home Location)3 Rs. 2,00,000 free per month, exceeding that 4/1000 (Minimum Rs. 50/- per transaction)
From July to September No Free limit: Rs. 4/1000 (Minimum Rs. 50/- per transaction)
Cash Withdrawal
Cash Withdrawal (Home Location) Free
Cash Withdrawal (Non-Home Location)4 Free
Cash Withdrawal (ATM's) IndusInd Network Free
Cash Withdrawal Other ATMs Free unlimited for balance above Rs. 10,000 in previous month
If balance in previous month is less than Rs. 10,000 then 5 transactions
Free, beyond which charges of Rs. 20 per transaction
Cash Withdrawal Outside India ATM's Rs. 125/-
Cash Withdrawal Limit by ATM Cardd Gold Card Rs. 50000, Platinum Business Card Rs. 1,00,000. (Per Day Basis)
OTHER FEATURES & CHARGES
Stop Payment (Single Cheque) Rs. 100
Stop Payment (Series Cheque) Rs. 150
Cheque Return (Inward) For Financial Reasons Rs. 750 per cheque
Cheque Return (Outward) IndusInd Location Up to 5 cheques, Rs. 50 per cheque,
beyond which Rs. 100 per cheque
Cheque Return (Outward) Other Locations Rs 100 per cheque + Out of pocket expenses
Internal Transfer Return Chargess NIL
ECS Returns Rs. 200
Debit Card
Business Gold CHIP Debit Card (Issuance, Annual Charges, Replacement & Supplementary Card) Rs. 199 p.a.
Platinum Business CHIP Debit Card (Issuance, Annual Charges, Replacement & Supplementary Card) Rs. 299 p.a.
Balance Inquiry at Other ATMs within India Free
Balance Inquiry Outside India Rs. 20/- per transaction
POS Limit on Debit Card Gold Card Rs. 100,000, Platinum Business Card Rs. 2,00,000. (Per Day Basis)
Email Statement (Daily) Free
Adhoc Statement printed Rs. 10 per page
Inoperative account charges (Per Quarter)^ Rs. 100
Dormant Account Activation Free
Account Closure Charges
Before Six Months Rs. 200
After Six Months NIL
DOORSTEP BANKING
Cash Delivery / Pickup (Per call)
Till 2 lacs Free
2 - 5 lacs Rs. 250
5 - 10 lacs Rs. 400
10 - 20 lacs Rs. 800
> 20 lacs Contact Branch
Cash Delivery / Pickup (Beat delivery) per monthh
Till 1 lacs Free
1 - 2 lacs Rs.Free
2 - 5 lacs Rs. 5,500
5 - 10 lacs Rs. 9,000
10 - 20 lacsh Rs. 16,000
> 20 lacs Contact Branch
Cheque Pickup (On call)+ Free
Cheque Pickup (Beat) per month+ Free
PAP- Payable At Par
Service Tax as applicable on charges
**Services available on request at select locations
Schedule of Standard Charges
IMPORTANT: If Average Monthly Balance is maintained less than 60% of the product selected, free limits will not be applicable and below mentioned Standard charges will apply.
1 Standard Charges per cheque leaf is Rs. 2/-
2 Standard Charges for funds transfer trasaction is Rs. 15/- per cheque
3 Standard Charges for Cash deposit at Home location: Rs. 3/1000 minimum Rs. 50/-, Non-Home Location:Rs. 4/1000 minimum Rs. 50/-.
4 Standard Charges for cash withdrawal at Non-Home Location is Rs. 2.5/1000 minimum Rs. 50
5 Standard Charges for NEFT: Upto Rs. 1 lac Charges of Rs. 2.5/- per transaction –From Rs. 1 lac to 2 lac Charges of Rs. 15/- per transaction- Rs. 2 lakh and above Rs. 25 per transaction
6 Standard Charges for RTGS: From Rs. 2 lac to 5 lac Charges of Rs. 25/- per transaction – Rs. 5 lakh and above Rs. 50 per transaction
+Available in Select Locations only
PAP- Payable At Par
^ No Customer Induced Transaction for 1 Year
Taxes as applicable on charges

SOC Grain Merchant Flexi

Schedule of Charges: Indus Grain Merchants Flexi w.e.f 1st April 2015

AMB & CHEQUE BOOK CHARGES
Average Monthly Balance Requirement Rs. 1,00,000/-
Charges for Non-Maintainance of AMB (Monthly) Rs. 4000 per month
Cheque Book Issuances (Payable At Par)
(50 leafs Book)
2 cheque books free per month
Charges of Cheque Book on additional usage1 Additional charge Rs. 2 per leaf
COLLECTIONS
Local Cheque Deposit Free
Cheques Deposited at Any location of Indusind bank for clearing in same location Free
Outstation Cheque Deposit on Indusind Location (inclusive of all charges and service tax)2 Free
Outstation Cheque Deposit on Non-Indusind Location
Instrument Value Charges (Inclusive of all Charges)
Cheques collection Up to and including 5,000 Rs. 25/-
Above 5,000 and up to and including 10,000 Rs. 50/-
Above 10,000 and up to and including 1,00,000 Rs. 100/-
Above 1,00,000 Rs. 200/-
Funds Transfer (Between any Indusind Bank Branches) (Online/through Branch)2 Free
PAYMENTS
Funds Transfer (Between any Indusind Bank Branches) (Online/through Branch)2 Free
Payments through payable at par cheque Free
DD/PO (At Branch Locations)
Free Limit Rs. 100 lakh per month
Charges on Additional usage Rs. 1/1000 Min Rs. 25 Max Rs. 10,000
DD/PO (Correspondent Bank Location)
Free Limit Rs. 10 lacs per month
Charges on Additional usage Rs. 2/1000 Min Rs. 100 Max Rs. 15000
DD/PO (Non-Correspondent Bank) Rs. 3/1000, Min Rs. 100 Max Rs. 15000
NEFT (NATIONAL ELECTRONIC FUNDS TRANSFER)5 Free
RTGS (REAL TIME GROSS SETTLEMENT)6 Free
CASH TRANSACTIONS
Cash Deposit at Home+Non-home Location
Free Limit per month3 15 times of previous month AMB
Additional Charges on incremental deposits Rs. 4/1000 (Minimum Rs. 50/- per transaction)
Cash Withdrawal
Cash Withdrawal (Home Location) Free
Cash Withdrawal (Non-Home Location)4 Free
Cash Withdrawal (ATM's) IndusInd Network Free
Cash Withdrawal Other ATMs Free unlimited for balance above Rs. 10,000 in previous month. If balance in previous month is less than Rs. 10,000/- then 5 transactions Free, Beyond with charges of Rs. 20 per transaction
Cash Withdrawal Outside India ATM's Rs. 125/-
Cash Withdrawal Limit by ATM Card Gold Normal/CHIP Card: Rs. 50,000/- & Platinum CHIP Debit Card: Rs. 1,00,000/- per day basis
OTHER FEATURES & CHARGES
Stop Payment (Single Cheque) Rs. 100
Stop Payment (Series Cheque) Rs. 150
Cheque Return (Inward) For Financial Reasons Rs. 750 per cheque
Cheque Return (Outward) IndusInd Location Upto 5 cheques, Rs. 50 per cheque, beyond which Rs. 100 per cheque
Cheque Return (Outward) Other Locations Rs 100 per cheque + Out of pocket expenses
Internal Transfer Return Charges NIL
ECS Returns Rs. 200
Debit Card
Business Gold CHIP Debit Card (Issuance, Annual Charges, Replacement & Supplementary Card) Rs. 199
Platinum Business CHIP Debit Card (Issuance, Annual Charges, Replacement & Supplementary Card) Rs. 299
Balance Inquiry at Other ATMs within India Free
Balance Inquiry Outside India Rs. 20/- per transaction
POS Limit on Debit Card Gold Normal/CHIP Card: Rs. 1,00,000/- & Platinum CHIP Debit Card: Rs. 2,00,000/- per day basis
Email Statement (Daily) Free
Adhoc Statement printed Rs. 10 per page
Inoperative account charges (Per Quarter)^ Rs. 100
Dormant Account Activation Free
Account Closure Charges  
Before Six Months Rs. 200
After Six Months NIL
DOORSTEP BANKING
Cash Delivery / Pickup (Per call)
Till 2 lacs Free
2 - 5 lacs Rs. 250
5 - 10 lacs Rs. 400
10 - 20 lacs Rs. 800
> 20 lacs Contact Branch
Cash Delivery / Pickup (Beat delivery) per month
Till 2 lacs Free
2 - 5 lacs Rs. 5,500
5 - 10 lacs Rs. 9,000
10 - 20 lacs Rs. 16,000
> 20 lacs Contact Branch
Cheque Pickup (On call)+ Free
Cheque Pickup (Beat) per month+ Free
Schedule of Standard Charges
IMPORTANT: If Average Monthly Balance is maintained less than 60% of the product selected, free limits will not be applicable and below mentioned Standard charges will apply.
1 Standard Charges per cheque leaf is Rs. 2/-
2 Standard Charges for funds transfer trasaction is Rs. 15/- per cheque
3 Standard Charges for Cash deposit at Home location: Rs. 3/1000 minimum Rs. 50/-, Non-Home Location:Rs. 4/1000 minimum Rs. 50/-.
4 Standard Charges for cash withdrawal at Non-Home Location is Rs. 2.5/1000 minimum Rs. 50
5 Standard Charges for NEFT: Upto Rs. 1 lac Charges of Rs. 2.5/- per transaction –From Rs. 1 lac to 2 lac Charges of Rs. 15/- per transaction- Rs. 2 lakh and above Rs. 25 per transaction
6 Standard Charges for RTGS: From Rs. 2 lac to 5 lac Charges of Rs. 25/- per transaction – Rs. 5 lakh and above Rs. 50 per transaction
+Available in Select Locations only
PAP- Payable At Par
^ No Customer Induced Transaction for 1 Year
Taxes as applicable on charges
Download Print Google+
QUICK SERVICES
CREDIT CARD PAYMENT

Rate this product

3.0 Rating

Average rating based on 289 ratings

0 out of 0 (0%) reviewers recommend this product

Write Review

I would recommend this product

Type the text shown in the image

Retype the characters from the picture:

  • SAVINGS RATES

  • Daily balance upto 1 lac 4 %
  • Daily balance above 1 lac and upto 10 lac 5 %
  • Daily Balance above 10 lac 6 %
  • DEPOSIT RATES

  • 1 year to 1 year 2 months 7.15 %
  • Indus Tax Saver Scheme - 5 years (upto Rs 1 lac) 7 %

Virtual ATM tour

Close

COPYRIGHT © 2013 INDUSIND BANK. ALL RIGHTS RESERVED.