Overview
Indus Select Current Account offers a delightful blend of scale and convenience to help businesses create more value. In addition, it allows access to curated lifestyle privileges and offers.
Best Suited for medium size business with an Average Quarterly Balance requirement of Rs. 1 Lac (at single/group level)
Features of Indus Select Current Account
Dynamic Cash Deposit Limit
Anywhere free cash deposit of up to 8 times of previous month’s maintained AMB or Rs 20 Lacs, whichever is higher
DD & Pay orders issuance
Free DDs/ POs up to 200 lacs p.m. at IndusInd Bank and 40 Lacs p.m. at Correspondent Bank Locations.
Waiver on Outward Cheque return charges
Nil charges up to 5 Outward cheque returns per month.
Auto Sweep Deposit
Automatic transfer of excess balance from current account into sweep FD.
Grouping of accounts
To extend the Program Benefits to Family members & Group Businesses at no incremental balance requirement.
Doorstep Banking
Enjoy Free Cheque pickup & Cash pickup/delivery services right from your doorstep.
Preferential Trade Charges
For all your cross border Business requirements.
Free Visa Signature Select Debit Card
Indus Select Current Account Fee & Charges
Schedule of Charges for Indus Select Current Accounts
| Program Criteria to be maintained at Group Level | Any one of the criteria mentioned below |
| AQB (in combination of Current and Savings Accounts) | Rs. 1 Lac |
| Total Relationship Value (CA+SA+FD) ^ | Rs. 10 Lacs with minimum AQB Rs. 50,000 (in combination of Current and Savings Accounts) |
| Charges for Non-Maintenance | 10% of the shortfall in required AQB as per program, subject to max of Rs. 900 |
| Cheque Leave Issuances (Payable At Par) | 250 cheque leaves free per month |
| Charges on Additional Usage | Rs. 2 per leaf |
| Outstation Cheque Deposit | |||||||||||
Outstation Cheque Collection, payable at Non-IndusInd Bank Locations
|
|
| Cash Deposit at Home+Non Home Locations | |
| Free Limit per month | 8 times of previous Month's AMB or Rs. 20 Lacs, whichever is higher |
| Additional Charges | |
| Charges on Additional Deposits | Rs. 4/1000, Min Rs. 50/- Per transaction. |
| Cash Withdrawal | |
| Cash Withdrawal Non IndusInd ATMs * | Free |
| Cash Withdrawal Limit by Debit Card | Refer Standard Schedule of Charges for Debit Card |
| DD/PO (At IndusInd Bank locations) | |
| Free Limit | Rs. 200 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. 40 lacs per month |
| Charges on Additional usage | Rs. 2/1000, Min Rs. 100, Max Rs. 15000 |
| DD/ PO (Non-Correspondent Bank) | |
| Charges on usage | Rs. 3/1000, Min Rs. 100, Max Rs. 15000 |
| Stop Payment | |
| Cheque | Single cheque Rs. 100,Series cheque Rs. 150 Nil charges if requested through Indus Net /Indus Mobile/ IVR |
| Cheque Return | |
| Inward For Financial Reasons | Upto 2 instruments per month- Rs. 350 per instrument On 3rd & 4th instrument - Rs. 500 per instrument 5th instrument onwards - Rs. 750 per instrument |
| Outward | Nil Charges upto 5 cheques per month, thereafter Standard charges $ |
| NACH / ECS | |
| NACH / ECS Return | Rs. 200 |
| Debit Card | |
| Visa Signature Select/Master Card World Select | Free |
| ATM/POS Limit on Debit Card | Limit As per Debit Card Taken, Refer Standard Schedule of Charges for Debit Card |
| Account Statement | |
| Adhoc Statement printed | Rs. 10 per page |
| Charges | |
| Cheque Pickup (On call) | Free Once in a day |
| Cheque Pickup (Beat) Per month | Free |
| Door Step Cash upto Rs. 2 Lacs (Per Call) | Free once in a day |
| Door Step Cash above Rs. 2 Lacs (Per Call) | Standard Charges - from Rs. 2 to 5 Lacs - Rs. 250, from Rs. 5 to 10 Lacs - Rs. 400,from Rs. 10 to 20 Lacs - Rs. 800, contact branch for cash above Rs. 20 Lacs |
| Doorstep Cash up to Rs. 1 Lac (Beat) per month | Free once in a day |
| Doorstep Cash above Rs. 1 Lac (Beat) per month | Standard Charges - from Rs. 1 to 2 Lacs - Rs. 3,000, from Rs. 2 to 5 Lacs - Rs. 5500, from Rs. 5 to 10 Lacs - Rs. 9,000, from Rs. 10 to 20 Lacs - Rs. 16,000,contact branch for cash above Rs. 20 Lacs |
+Available in Select Location Only
| Collections | Local Cheque Deposit | Cheques deposited at any location of IndusInd Bank for clearing in the same location | Funds Transfer within IndusInd Bank | Outstation Cheque Deposit on IndusInd Bank Location |
| Payments | Anywhere Payment - Cheques paid at any location of IndusInd Bank | Cash Withdrawal - any IndusInd Bank Branch or ATM |
| Other Services | Non-financial Transactions - Other Bank ATMs in India^ | Email Statement (Daily) | Dormant Account Activation | Internal Transfer Return Charges | Account Closure Charges |
| NEFT / RTGS / IMPS | Branch | Online (through Indus Net) |
| Remittances | |
| Inward Remittances | Free |
| Non Trade Outward Remittances | Rs. 250 |
| FIRC Issuances | Free |
| Exports | |
| Export Bills for Collection & under LC | Rs. 500 |
| Advance Export Bills | Rs. 500/bill |
| Export LC Advising | Rs. 600 |
| BRC issuances for allexport transactions | Free |
| Imports | |
| Advance Payments for Imports | Rs. 500 Flat |
| Direct Import Bills | Rs. 500 Flat |
| Import Bills for Collection | Rs. 500 Flat |
| Miscellaneous Charges | |
| Swift Charges | Rs. 250 |
| International Courier Charges | Rs. 1000 |
| Registered Post Charges | Rs. 250 |
| Commission in lieu of exchange | 0.125% |
| ^Total Relationship Value = Current Account AQB + Savings Account AQB + Fixed Deposits AQB (3 months rolling average) |
| *Free Monthly Cash Withdrawal Limit at Non-IndusInd Bank ATMs is capped at 50 transactions per month subject to Average Monthly Balance maintenance of Rs.10,000 in previous month. In case the Average Monthly Balance in previous month is less than Rs.10,000, then 5 transactions are Free. Cash Withdrawal transactions above the specified limits will be charged at Rs. 21 per transaction. | Cash Withdrawal outside India is Rs.125. |
| $Standard Cheque Return (Outward) Charges: Rs. 50 per cheque for IndusInd Bank Location & Rs. 100 per cheque + out-of-pocket expenses for Other Locations |
| ^W.e.f. 20th December 2023, number of Non-financial ATM transactions i.e. Balance Enquiry, Mini-statement, PIN Change, Mobile Banking Registration, Cheque Book Request, Statement Request and Aadhar Number Seeding, etc. on Non-IndusInd Bank ATM is limited to 5 transactions per day. |
| +Available in Select Locations only |
| PAP - Payable at Par | GST and FX conversion tax would be applicable as per current regulations. |