Overview
Merchant Premier Basic Account offers a unique blend of control and convenience through flexible limits which adjust itself to keep up with your ever-evolving business requirements. Best suited for medium-sized business with an Average Monthly Balance (AMB) requirement of Rs. 50,000 only.
Feature
- Open your current account and become a merchant via completely digital and paperless flow
- Minimum account balance requirement of 50K
- Interest bearing current account with auto sweep facility
- Enjoy best in class free cash deposit limits upto Rs. 10 Lakhs or 8 times of previous month AMB, whichever is higher
- Enjoy benefits such as Free NEFT/RTGS/IMPS; Free 100 cheque leaves per month
- Free* cash pick-up and cheque pick up at your doorstep
- *Unlimited cheque and cash pick-ups (upto 2L)Â in a month (once a day, on call)
- 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 Premier Basic Account Eligibility
Eligible Customer types for Merchant Premier Basic Account are:
- Individual
- Sole Proprietorship
- Partnership
- Limited Company / Limited Liability Partnership
- Trust / Association / Club / Society
Fee & Charges of Merchant Premier Basic Account
Schedule of Charges for Merchant-Premier Basic Account
| Average Monthly Balance Requirement | Rs.50,000/ - |
| Charges for Non-Maintainance of AMB | Rs. 1000 per month if AMB is >=50% but <100% & Rs. 1500 per month if AMB is <50% |
| Cheque Book Issuances ((Payable At Par: 50 leaves Book) |
2 cheque book Free per month |
| Charges of Cheque Book on additional usage 1 | Rs. 2 per leaf |
| DD/PO (At Branch Locations) | |
| Free Limit | Rs. 100 lacs per month |
| Charges on Additional usage | Rs. 1/1,000, 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 |
Outstation Cheque Collection - Payable at Non-IndusInd Bank Locations |
Instrument Value | Charges |
| Cheques collection up to and including Rs. 5,000 | Rs. 25 | |
Above Rs. 5,000 and up to and including Rs.10,000 |
Rs. 50 | |
Above Rs. 10,000 and up to and including Rs. 1,00,000 |
Rs. 100 | |
| Above Rs. 1,00,000 | Rs. 200 |
Cash Transactions
| Cash Deposit at Home+Non Home Locations | |
| Free Limit per month 4 | 8 times of previous month’s AMB or Rs. 10 Lacs, which ever 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 | Limit As per Debit Card Taken, Refer Standard Schedule of Charges for Debit Card |
| 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 up to 3 cheques per month, thereafter for IndusInd Bank Locations - Rs. 50 per cheque Other Locations - `Rs. 100 per cheque + Out of pocket expenses |
| NACH / ECS | |
| NACH / ECS Return | Rs. 200 |
| Debit Card | |
| Titanium Debit Card | Issuance, Annual Charges, Replacement & Supplementary Card - Rs. 249/- |
| Platinum Business Debit Card | Issuance, Annual Charges & Supplementary Card- Rs 699, Replacement Card Rs.-249/- |
| Balance Inquiry Outside India | Rs. 20/- per transaction |
| 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) | Up to 5 calls free in a month, thereafter Rs. 150 per call |
| Door Step Cash above Rs. 2 Lacs (Per Call) | Standard Charges: From 2 to 5 Lacs-Rs 250, From 5 to 10 Lacs-Rs 400, From 10 to 20 Lacs-Rs 800, Contact branch for cash above 20 Lacs |
| Door Step Cash (Beat) Per month | Standard Charges: Up to Rs 1 Lac- Rs 2000, From 1 to 2 Lacs-Rs 3000, From 2 to 5 Lacs-Rs 5500, From 5 to 10 Lacs-Rs 9000, From 10 to 20 Lacs-Rs 16000 Contact branch for cash above 20 Lacs |
| 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 | Funds Transfer within IndusInd Bank| Cash Withdrawal - Any IndusInd Bank Branch or ATM |
| 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 (Through Indus Net) |
| 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 transaction is Rs. 15 per cheque |
| 3. Standard charges for cash withdrawal at Non-Home Location is Rs. 2.5/1,000 minimum Rs. 50 |
| 4. Standard charges for cash deposit at Home Location/Non-Home Location: Rs. 4/1,000 minimum Rs. 50 |
| Cash Withdrawal Non IndusInd Bank ATM is unlimited Free 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 transactions | Cash Withdrawal outside India Rs. 125 |
| Available in Select Locations only |
| PAP - Payable at Par | GST as applicable on charges |