Overview
Merchant Plus Basic Account provides a set of essential features required to operate and grow your day-to-day business. Ideal for small businesses with 0 Average Monthly Balance (AMB) requirement.
Feature of Merchant Plus Basic Account
- Open your current account and become a merchant via completely digital and paperless flow
- No minimum account balance requirement to be maintained
- Free cash deposit upto Rs 3 Lakhs allowed at the base location, upto Rs 1 Lakh at non-base location
- Enjoy benefits such as Free NEFT/RTGS/IMPS; Free 50 cheque leaves per month
- Completely digital POS activation
- All-in-one payment collection platform: DC/ CC, QR, UPI, Link based payment, wallets
- POS machines suitable for all your needs: GPRS enabled, wifi, Android POS
- Accept contact and contactless cards
- Generate send receipts to your customers via SMS/ email
- Free QR Code upon subscription
- Say goodbye to daily cash flow challenges!
- Now you don’t have to wait for 2-3 days for transaction settlement
- Settle transactions* immediately at the click of a button even on bank holidays
- Easy availability of cash 24x7
*Nominal charges applied; get in touch with RM for details
- Get easy, flexible access to credit on your terms
- Choose from a comprehensive suite of loan products: loan against card receivables, small ticket instant business loan, Loan Against Property or working capital loans
- End to end Digital loan application process
- India’s only all-in-one merchant app with banking, loan, payment acceptance, servicing and value added functions all combined in one top-of-the-line platform
- Use the app in your local language
- Manage your credit transactions with built-in Khatabook functionality
- Customizable business performance dashboard which shows you sales and volume trends, settlements details and helps you take better business decisions
- Bill payments and recharges
- Service requests and real-time tracking through the app
- Trustworthy and transparent service support enabled by a 12x7 dedicated service desk
- Omnichannel Service Support – dedicated helpline (022-66238000), mobile app and RM
- Real-time tracking of all service issues through the app
Merchant Plus Basic Account Eligibility
Eligible Customer types for Merchant Plus Basic Account are:
- Individual
- Sole Proprietorship
- Partnership
- Limited Company / Limited Liability Partnership
- Trust / Association / Club / Society
Fee & Charges of Merchant Plus Basic Account
Schedule of Charges for Indus Merchant Plus Basic Account
| Average Monthly Balance Requirement | Nil |
| Charges for Non-Maintainance (NMC) of AMB | NA |
| Cheque Book Issuances (Payable At Par: 50 leaves Book) |
1 cheque book Free per month |
| Charges of Cheque Book on additional usage 1 | Rs. 2 per leaf |
| Funds Transfer (Between any Indusind Bank Branches) (Online/through Branch) | Free |
| Payments at Any Location of IndusInd Bank for clearing in same location through PAP cheque | Free |
| DD/PO (At Branch Locations) | |
| Free Limit | Rs. 25 lacs per month |
| Charges on Additional usage | Rs. 1/1000 Min Rs. 25 Max Rs. 10,000 |
| DD/ PO (Correspondent Bank) | |
| Free Limit | Rs. 5 lacs per month |
| Charges on Additional usage | Rs. 2/1,000, Min. Rs. 100 Max. Rs. 15,000 |
| DD/ PO (Non-Correspondent Bank) | Rs. 3/1,000, Min. Rs. 100 Max. Rs. 15,000 |
| NEFT/ RTGS/ IMPS (Online/ Branch) | Free |
| Local Cheque Deposit | Free | ||||||||||
| Cheques Deposited at any location of IndusInd Bank for clearing in same location | Free | ||||||||||
| Outstation Cheque Deposit on IndusInd Bank Location | Free | ||||||||||
| Outstation Cheque Deposit on Non-IndusInd Bank Location |
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| Funds Transfer (Between any Indusind Bank Branches) (Online/ through Branch) | Free |
Cash Transactions
| Cash Deposit at Home Location | |
| Free Limit per month | Rs. 300,000 |
| Additional Charges on incremental deposits | Rs. 3/1,000 (Min. Rs. 50 per transaction) |
| Free Cash Deposit at Non-Home Location per month | Rs. 100,000 |
| Additional Charges on incremental deposits | Rs. 4/1,000 (Min. Rs. 50 per transaction) |
| Cash Withdrawal | |
| Cash Withdrawal (Home Location) | Free |
| Cash Withdrawal (Non-Home Location) | Free |
| Cash Withdrawal (ATMs) IndusInd Bank 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 5 Transactions, Charges of Rs. 20 per transaction |
| Cash Withdrawal Outside India | Rs. 125 |
| Cash Withdrawal Limit at ATM | Refer Standard Schedule of Charges for Debit Card |
| Stop Payment (Single Cheque) | Rs. 100, Nil Charges if requested through Net banking/ Mobile banking/ IVR |
| Stop Payment (Series Cheque) | Rs. 150, Nil Charges if requested through Net banking/ Mobile banking/ 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 |
| Cheque Return (Outward) IndusInd Bank Location | Rs. 50 per cheque |
| Cheque Return (Outward) Other Locations | Rs. 100 per cheque + Out of pocket Expenses |
| Internal Transfer Return Charges | NIL |
| ECS Return | Rs. 200 |
| Debit Card# | |
| Titanium Debit Card | Rs. 249 (Issuance, Annual Charges, Replacement & Supplementary Card) |
| Platinum Business CHIP Debit Card | Rs. 699 (Issuance, Annual Charges & Supplementary Card), Replacement Rs. 249 |
| Balance Inquiry at Other ATMs within India | Free |
| Balance Inquiry Outside India | Rs. 20/- per transaction |
| POS Limit on Debit Card | Limit As per Debit Card Taken, Refer Standard Schedule of Charges for Debit Card |
| Email Statement (Daily) | Free |
| Adhoc Statement printed | Rs. 10 per page |
| Cash Delivery / Pick-up (Per call) | |
| Till 2 Lacs | Free once a day |
| 2 - 5 Lacs | Rs. 250 |
| 5 - 10 Lacs | Rs. 400 |
| 10 - 20 Lacs | Rs. 800 |
| > 20 Lacs | Contact Branch |
| Cash Delivery / Pick-up (Beat delivery) per month | |
| Till 1 Lacs | Rs. 2,000 |
| 1 - 2 Lacs | Rs. 3,000 |
| 2 - 5 Lacs | Rs. 5,500 |
| 5- 10 Lacs | Rs. 9,000 |
| 10 - 20 Lacs | Rs. 16,000 |
| > 20 Lacs | Contact Branch |
| Cheque Pick-up (On call)+ | Free once a day |
| Cheque Pick-up (Beat) per month+ | Rs. 500 |
| 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 | Funds Transfer within IndusInd Bank |
| Other Services | Balance Inquiry at Other ATMs within India | Email Statement (Daily) | Dormant Account Activation Charges | Internal Transfer Return Charges | Account Closure Charges |
| NEFT / RTGS / IMPS | Branch | Online |
| 1. Available in Select Locations only |
| 2. For other variant of Debit cards and further information, please refer Debit Card Schedule of Charges at www.IndusInd.com |
| 3. PAP- Payable At Par |
| 4. GST as applicable on charges |
| PAP- Payable At Par |
| GST as applicable on charges |