Overview
The IndusWE Current Account is a banking service provided as part of IndusInd Bank’s IndusWE program. With this program, the Bank offers Women Entrepreneurs a platform to Learn, Connect and Grow their business.
The IndusWE Current Account offers a unique blend of control and convenience through flexible limits which adjust itself to keep up with your ever-evolving business requirements. This account has an Average Monthly Balance (AMB) requirement of Rs. 50,000 only.
Some features that make managing your business account easier include:
- Dynamic Cash Deposit Limits
- Higher Transaction Limits
- Auto Sweep Deposit and Grouping of Accounts Facility
Eligible Customer types for the account are: Women Sole Proprietors, Partnership firms with a woman partner, Limited Company / Limited Liability Partnership promoted by women, or Business with woman focused products / services.
Features and Benefits IndusWE Current Account
Dynamic Cash Deposit limits
Anywhere free cash deposit of up to 8 times the previous month’s AMB or Rs 10 lacs, whichever is higher
Demand Draft
Free 100 Lacs Demand Drafts (DDs)/Pay Order (POs) issuance per month at IndusInd Bank and 10 Lacs at correspondent bank locations for secure and prompt payments
Auto Sweep Deposit
Automatic transfer of excess balance from Current account into sweep FD.
Grouping of accounts
Group your current account with your own or family members accounts (Savings/Current), and enjoy the flexibility of maintaining required group balances in one (or more) accounts.
Doorstep Banking Service
Free cheque pickups and up to 5 cash pickups (up to 2 Lacs) through on call facility for added convenience
IndusWE Current Account Eligibility Criteria
The IndusWE Current Account is only available to Women Entrepreneurs. Eligible Customer types for the account are:
Resident Business Women/ Women Sole Proprietors, Partnership firms with a woman partner, Limited Company / Limited Liability Partnership promoted by women or Business with woman focused products / services.
Fee & Charges of IndusWE Current 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 books Free per month |
| Charges of Cheque Book on additional usage 1 | Rs. 2 per leaf |
| Outstation Cheque Deposit | |||||||||||
| Payable at Non-Indusind Bank Locations |
|
| 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 |
| 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 |
| 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 3 cheques per month, thereafter for IndusInd Locations-Rs. 50 per cheque Other Locations-Rs 100 per cheque + Out of pocket Expenses |
| NACH / ECS | |
| NACH / ECS Return | Rs. 200 |
| Debit Card | |
| Gold/Titanium Debit Card | Issuance, Annual Charges, Replacement & Supplementary Card - Rs. 249/- |
| Platinum Business CHIP 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) | Upto 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 2 | 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 3 | Funds Transfer within IndusInd Bank 2 |
| 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 |
| 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 withdrawal at Non-Home Location is Rs. 2.5/1000 minimum Rs. 50 |
| 4. Standard Charges for Cash deposit at Home location/Non-Home Location:Rs. 4/1000 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 which charges of Rs. 21 per transaction will be applicable. | Cash Withdrawal outside Indis Rs. 125 |
| +Available in Select Locations only |
| PAP- Payable At Par |
| GST as applicable on charges |
Schedule of Charges for IndusWE Current Account