CURRENT ACCOUNT FEATURES
NO AVERAGE MONTHLY BALANCE (AMB)
REQUIREMENT
FREE CASH DEPOSIT UPTO 15 TIMES OF
PREVIOUS MONTH AMB
UNLIMITED FREE PAYABLE-AT-PAR
CHEQUE BOOK
UNLIMITED FREE RTGS/NEFT TRANSFERS
THROUGH BRANCH & NET BANKING
FREE CASH DEPOSIT AND CASH
WITHDRAWAL AT HOME AND NON-HOME
BRANCH LOCATIONS
UNLIMITED FREE DEMAND DRAFTS AND
PAY ORDERS AT EQUITAS BRANCH
LOCATIONS.
FREE PHYSICAL AND EMAIL ACCOUNT
STATEMENTS.
FREE QR FOR CASHLESS COLLECTION
SEAMLESS POS WITH BEST MDR RATES
EARN REWARDING INTEREST WITH SWEEP
IN AND SWEEP OUT FD
DEDICATED RELATIONSHIP MANAGER
CHOICE ACCOUNT NUMBER
DIGITAL SOLUTIONS
COLLECTIONS
UNIFIED PAYMENT INTERFACE (UPI) BASED
COLLECTIONS
QR CODE BASED SOLUTIONS
COLLECT REQUEST BASED SOLUTIONS
UPI AUTO PAY
INTERNET PAYMENT GATEWAY
POINT OF SALE (POS) DEVICE
NATIONAL AUTOMATED CLEARING HOUSE(NACH)
BHARAT BILL PAY SYSTEM (BBPS)
VIRTUAL ACCOUNTS
IMPS & UPI
CASHLESS CAMPUS
LINK PAY/SMS & MAIL
CASHLESS CAMPUS
PAYMENTS
CORPORATE INTERNET BANKING
NACH
FASTAG
API BANKING
VIRTUAL ACCOUNTS
IMPS & UPI
PFMS (PUBLIC FINANCE MANAGEMENT SYSTEM)
DEBIT CARDS (VISA AND RUPAY)
PREPAID CARDS
UPI AUTO PAY
SWEEP-IN AND
SWEEP-OUT FIXED
DEPOSITS (FLEXI
DEPOSIT)
Sweep-out and Sweep-in facility is available in the following
Current account product. variants – Advance Current account,
Trade-in Current account, and WINGS Current account.
The minimum Current account balance required for Sweep out
to Fixed Deposit is Rs. 10 Lakhs*
Default tenure of Flexi Deposit can be fixed from 181 day (or)
365 days (or) 444 days as agreed.
All Fixed Deposits by default will be on ‘Auto Renewal’ mode.
No Interest compounding will be offered in Flexi deposits.
Deposit Interest rate will be as applicable from time to time.
No interest will be paid on deposits withdrawn before 7 days.
Fixed Deposit will be booked in the name of the Institution.
Minimum amount of Sweep into Fixed Deposit allowed is Rs.
10,000/- and in multiples of Rs. 10,000/- thereon
Maximum amount of sweep into Fixed Deposit allowed per
instance per account Rs. 1.99 Crores.
Frequency of Sweep out to Fixed Deposit will be ‘Weekly.’
Sweep in from Fixed Deposit will be on Last In First Out (LIFO)
basis
Redemption of Fixed Deposit will also be in multiples of Rs.
10,000/- only
In the event of closure of current accounts, customers can
continue with the Deposits that have been booked and are in
force. In case current account is closed without any
instructions the Deposits will continue to be in force.
POA holders will not be allowed to sign requests for booking
or premature redemption.
Tax Deductible at Source (TDS) as applicable will be deducted.
Threshold amount for Sweep-out will depend on the Current
account variant opted.
POINT OF SALE
(POS)
Merchant Acquiring Solutions
POS stands for Point-of-Sale terminal which is also known as EDC
(Electronic Data Capture) machine that is kept at the merchant’s
outlet.
It facilitates acceptance of payment from customers through their
debit/credit/pre-paid cards towards sale proceeds of goods/services.
We have GPRS Digital POS and GPRS Paper POS Models to offer,
Vendor – Bijlipay
Benefits to Merchant
Ease of transaction and Increased Sales volume
Direct credit to Savings (or) Current Account
No one time set up fee and No Processing Fee
No statement charges/Non transacting charges/Settlement charges
Addresses Loose Change / Cash related Problems.
Faster Payment processing
Remote Management / Faster TAT of Deployment
Merchant Settlement
All settlements happen on a T+1 basis (next working day), to the
Equitas Savings (or) Current Account, where T is the date of the
transaction.
MDR (Merchant Discount Rate)
MDR is the fee, the store/shop (merchant) accepting the card has to
pay to the bank when a consumer swipes the card for making
payment.
The MDR compensates the bank issuing the card, the bank which puts
up the swiping machine (Point-of-Sale or PoS terminal) and card
network providers such as MasterCard or Visa or Rupay etc., for their
services.
In India, the RBI specifies the maximum MDR charges that can be
levied on card transactions
POINT OF SALE (POS)
WILL LOOK FORWARD TO A
CONVERSATION IN PERSON SO THAT
WE CAN EXPLORE WHAT BEST WE
CAN DO FOR STARTING A BANKING
RELATIONSHIP WITH YOUR
ESTEEMED ORGANIZATION.
THANK YOU
